Lloyds Banking Group has committed to reduce its direct carbon emissions by 90% by 2030 compared to a 2018/2019 baseline.
Its previous goal aimed to reduce emissions by 75%.
Lloyds will also aim to divert a minimum of 90% of operational and technology waste from landfill and incineration, in line with the Zero Waste International Alliance’s definition of a zero-waste business.
Lloyds’ new carbon pledges also include reaching water neutrality across all operations by the end of the decade.
The banking group will focus on water efficiency in all its UK buildings, investing in water technology solutions and supporting projects in the community to offset residual water consumption.
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Pledges also include commitments to biodiversity and nature to ensure the bank’s operational green spaces support healthier ecosystems and a more sustainable future.
Lloyds will promote biodiversity in its own spaces by supporting nature in urban spaces, by delivering smaller habitats on rooftops, balconies and patios using UK native and pollinator-friendly plants to create stepping-stone habitats for urban wildlife.
Future ways of working director David Blott said: “We are proud to be leading the way in making our places even better for our people and the environment.
“As we launch these new climate pledges, we are aware that the journey ahead will be challenging but immensely rewarding and our initial focus is laying the groundwork for their successful implementation.
“These new environmental pledges, alongside our long-term ambition to reach net zero carbon operations by 2030 demonstrates our commitment to creating a more sustainable and responsible future for all.”
