Lloyds TSB announces target for reducing carbon footprint

At its Annual General Meeting on Wednesday 9 May, Lloyds TSB Chairman, Sir Victor Blank, confirmed the Group’s ongoing commitment to tackling the problems relating to climate change. The Group has been progressively reducing its carbon emissions over recent years but has now announced a firm target that by the end of 2012, it will have reduced its carbon footprint by 30 per cent. In addition to this reduction target, it will also offset those emissions that it cannot eliminate so that the business becomes carbon neutral by the end of this year.

Sir Victor Blank said: “As one of the UK’s top companies, we believe that we have a responsibility to take a lead in reducing our carbon footprint. Rather than just offsetting, we are committing to reducing our carbon emissions by cutting out unnecessary travel, buying renewable energy and better energy management.”

“Reducing our carbon footprint by 30 per cent by 2012 is a stretching target that will require significant reductions to our energy consumption but we are committed to setting an example. We have chosen 2012 as our target timing as it supports our sponsorship of the London 2012 Games which are set to be the first ‘green’ Games with a focus on sustainability.”

Since 2002, Lloyds TSB has progressively reduced its carbon footprint by almost 36,000 tonnes of CO2. This was achieved by improving energy management in our buildings and buying renewable energy. In 2006, the use of over 230,000 teleconferences helped reduce car and train travel by 20 million kilometres or the equivalent of 500 round-the-world trips.

The Group is keen to build on this track record and is using 2002 as the baseline for the target of reducing its carbon footprint by 30 per cent by 2012.