Doing what matters for the environment

Doing what matters for the environment is an increasingly important consideration for customers, colleagues, and other stakeholders we work with, including regulators. Our strategy focuses on reducing our impact on the environment and meeting the highest international standards.

Within this plan we consider emissions from our own operations - Scope 1 and 2 greenhouse gas emissions, as well as our downstream impacts. For example, from our mortgage products and supply chain, waste, paper and water - Scope 3 greenhouse gas emissions.

  • We’ve committed to reducing the environmental impact of our own operations by becoming net zero no later than 2030.

  • In 2021 we signed up to the Science Based Targets initiative, which requires us to set credible absolute and net zero targets by the end of 2022.

  • We have joined the Net-Zero Banking Alliance, an industry-led, UN-convened alliance of banks worldwide, committed to aligning their lending and investment portfolios with the goals of the UN Paris Agreement by 2050, or sooner. 

  • We've reduced our Scope 1 and 2 emissions by 74% from our 2019 baseline and reduced Scope 3 emissions (for waste, business travel, paper and water) by 78% since 2019.

Creating a more environmentally focused workforce at TSB

“I’m a member of the Green Team at TSB, a colleague environmental network which brings people together from across the business to support the environment pillar of our Do What Matters Plan.
“I love the idea of an active army of likeminded people working to help the environment in lots of different ways. It fits in perfectly with my values and means I can make a difference in my workplace as well as outside of work.
“I’m proud that TSB have taken steps in the right direction and committed to a pathway to net zero. And I look forward to being part of the solution, not the problem.
Steve Jones

Torquay Branch

Helping our customers reduce their impact on the environment

In June 2021, we launched our green additional borrowing mortgage products to help homeowners reduce their carbon footprint. We’ve designed them to encourage people to make their homes environmentally friendly. Customers benefit from cheaper rates for green home improvements.

Dr Rhian-Mari Thomas OBE, Chief Executive of the Green Finance Institute said:

“Innovation and transparency will be essential for scaling-up the green mortgage market and accelerating the decarbonisation of UK homes. Today’s announcement about the launch of TSB’s Green Additional Borrowing mortgages – which align with the industry-backed Green Home Finance Principles, established by the Green Finance Institute – is a welcome contribution to creating a thriving market for green mortgages in the UK.”

We’re planting thousands of trees to offset house moves. When it comes to the environment, moving home leaves a sizeable carbon footprint. For starters, a typical removal lorry emits up to 1.3kg CO2 per mile. Then there’s all the packaging.

So, we’re doing something about it. To help our customers offset their carbon footprint, we’ve asked Eforests to plant a tree for every home move where a TSB mortgage is provided. So far, we’ve planted more than 38,000 trees across England, Scotland, and Wales.