TSB is a retail bank which provides banking services across Great Britain to over 5 million customers. This includes personal banking, mortgages and loans, as well as banking services for Britain’s smallest businesses.
In January 2021 TSB unveiled its plans to achieve net-zero carbon emissions from their own operations by 2030, a key commitment in its responsible business strategy, the Do What Matters Plan. To date, TSB has already implemented several initiatives to reduce its carbon footprint, including:
- Purchasing 100% renewable energy;;
- Implementing an electric vehicle company car scheme;
- Installing LED lighting across the office and branch estate; and
- Launching the TSB Green Team to help drive the net zero agenda across the organisation.
TSB is now setting plans in place to address wider aspects of its emissions, including decarbonising its estate and setting Science Based Targets.
As part of its overall climate strategy, TSB is committed to investing in Nature Based Solutions through a partnership with Forest Carbon. This partnership enables TSB to invest in projects that capture CO2 and also provide wider climate mitigation benefits such as flood alleviation, habitat creation, employment, sustainable timber and cleaner air.
TSB colleagues are also given the opportunity to volunteer at these sites and learn more about the positive impact these projects have on nature and biodiversity.
TSB is also looking at ways to support nature based solutions through its products and services. In late 2021 TSB ran a pilot scheme to incentivise customers to use digital banking for the first time, planting a tree for every login linked with this campaign. 1,000 trees were planted at the Hawkshaw project as a result of this.
One of the projects TSB is supporting is Forest Carbon’s ArBolivia Gold Standard agroforestry project, in Bolivia. The dashboard below sets out the total CO2, including the Gold Standard carbon credits, that TSB's investment in Nature Based projects will deliver.