- Increase in Scope 1 & 2 emissions due to in-housing mortgage processes and opening office space.
- Failure to achieve 75% operational waste recycling target.
- Delay in launching green mortgage products due to increasing interest rates and affordability pressures.
- Reduction in lending to the renewable energy sector due to repayment of historical loans.
The Co-operative Bank plc
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, The Co-operative Bank plc disclosed greenhouse gas emissions of 360.6K tCO2e/year (Scope 1 2 & 3 location-based). By scope: Scope 1: 684.7 tCO2e/year; Scope 2: 1.5K tCO2e/year (location-based); Scope 3: 358.4K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
360.6K tCO2e/year (Scope 1 2 & 3 location-based)
2023
Renewable Energy
69% of total energy use (direct procurement)
of total energy
Energy Use
10.1M kWh/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 684.7 tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 1.5K tCO2e/year (location-based) |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 358.4K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 360.6K tCO2e/year (Scope 1 2 & 3 location-based) |
| 2022 | 2.1K tCO2e (Location-Based) / 797 tCO2e (Market-Based) |
| 2021 | 3.1K tCO2e/year |
| 2020 | 4.0K tCO2e |
| 2017 | 15.5K tCO2e/year |
| 2016 | 19.6K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Partnered with Friends of the Earth to launch a Postcode Gardeners project to create 1,000 green spaces.
- Reduced total waste produced through operations by 3 tonnes.
- Maintained zero waste to landfill status.
- Recycled 73% of operational waste.
- Supported over 2,200 homeowners through the Home Energy Improvement Tool.
- Helped over 200 SMEs develop sustainability action plans, saving 85 tonnes of CO2 and identifying energy bill savings of around £100,000.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce Scope 1 & 2 emissions by approximately 10% by 2024.
- Ensure all electricity procured is renewable by end of 2024.
- Increase biodiversity in 300 spaces across 12 sites by 2024.
- Increase Community Directplus Accounts by 6% compared to 2023.
📅 Medium-term
- Achieve Net Zero status for Scope 1 & 2 emissions by 2030.
- Transition Scope 3 mortgage lending portfolios to Net Zero by 2050.
🔭 Long-term
- Achieve Net Zero status for Scope 3 emissions by 2050.
🌱 ESG Focus Areas
Climate ChangeSocial InequalityBiodiversityFairer RentingYouth HomelessnessFinancial InclusionHuman Rights