Carbon Footprint — Operations: How does Halifax score?

Lloyds Banking Group (parent of Halifax) reports comprehensive Scope 1 (20,441 tCO2e) and Scope 2 market-based (4 tCO2e) emissions for 2024 using GHG Protocol methodology. Scope 2 location-based was 50,704 tCO2e. Emissions have been tracked since 2009, with Deloitte providing independent assurance. Multi-year granular breakdown by category is publicly available in annual sustainability reports and data sheets.

Carbon Footprint — Supply Chain: How does Halifax score?

LBG reports operational Scope 3 supply chain emissions of 664,022 tCO2e in 2024 across 7 of 15 GHG Protocol categories, with Purchased Goods and Services as the largest source at 72%. Financed emissions (the major Scope 3 for a bank) were reported at 32.8 MtCO2e in 2022, using PCAF methodology with sector-specific targets for 10 sectors. However, reporting granularity declined from 8 to 7 Scope 3 categories in 2024, and financed emissions represent the bulk of physical impact which remains subst

Emissions Trajectory: How does Halifax score?

LBG's operational Scope 1+2 emissions decreased 5.76% year-on-year in 2024, with an 85% reduction in direct emissions over the past five years from a 2018/19 baseline. The operational target was increased from 75% to 90% reduction by 2030. However, financed emissions remain substantial at tens of millions of tonnes, and a 2024 Rainforest Action Network report showed fossil fuel financing increased by £500M in 2023. The operational trajectory is strong but the financed emissions picture (the real

Energy Source: How does Halifax score?

LBG is a member of the Climate Group's RE100 initiative and purchases 100% renewable electricity. The group has signed two corporate PPAs: a 10-year agreement with Low Carbon for 50 GWh annually from UK solar farms, and a CPPA with SSE Renewables covering ~25% of electricity demand from onshore wind. The near-zero market-based Scope 2 (4 tCO2e in 2024) confirms effective renewable energy procurement. Additionally, LBG has pledged to reduce total energy consumption by 50% by 2030 and is over half

Nature & Biodiversity Impact: How does Halifax score?

LBG has active engagement on nature and biodiversity: TNFD-aligned nature risk assessment across 46,000 agricultural clients using Earth Blox; co-chairing the Deforestation Workstream of the Sustainable Markets Initiative Financial Services Task Force; a 10-year partnership with Woodland Trust to plant 10 million native trees by 2030; £250,000 founding partnership with Projects for Nature for three UK nature recovery projects; and a dedicated Head of Nature and Nature Manager. The group has comp

Resource Use & Waste: How does Halifax score?

LBG has pledged to achieve zero-waste status by 2030 using the Zero Waste International Alliance definition (diverting 90%+ of operational waste and used technology from landfill/incineration). The group had an earlier target to reduce operational waste by 80% by 2025 from a 2014/15 baseline. Practical initiatives include food redistribution through Olio at 18 locations and elimination of 7,800+ plastic milk bottles. Supply chain sustainability engagement through EcoVadis scoring (72/100) and th

Water Impact: How does Halifax score?

LBG is targeting water-neutral operations by 2030, with a plan to improve water efficiency through a mix of building-level interventions and innovative water reduction/reuse technologies. The earlier target was a 40% reduction by 2030 from 2009 baseline. Residual consumption will be offset through support for local watershed conservation and restoration projects. LBG also coordinated the UK's first sterling corporate Blue Bond advancing water-related environmental initiatives. As a bank, direct

Targets & Commitments: How does Halifax score?

LBG has set multiple targets: net zero operations by 2030 with 90% Scope 1+2 reduction from 2018/19 baseline; 50% reduction in financed emissions by 2030; net zero financed emissions by 2050; sector-specific targets for 10 high-emission sectors; 50% energy reduction by 2030. SBTi status is listed as validated by KnowESG (Feb 2026), though other sources conflict on this. The group is a founding member of the Net Zero Banking Alliance. Carbon offsetting principles align with ICROA and ICVCM standa

Transparency & Accountability: How does Halifax score?

LBG publishes a comprehensive annual Sustainability Report (2024 published), a Carbon Reduction Plan, sustainability metrics data sheets, and a sustainability metrics basis of reporting document. TCFD disclosure is implemented, and the group is preparing for TNFD. Deloitte provides independent assurance on emissions data. LBG has a Chief Sustainability Officer (Andrew Walton), a dedicated Head of Nature, and a Nature Manager. Sustainability is integrated into board-level governance. The group di

Controversies & Red Flags: How does Halifax score?

Starting at 8. Deduct 2 for the December 2024 ASA ruling that upheld a greenwashing complaint against a Lloyds LinkedIn ad for misleading consumers about its renewable energy focus while having 32.8 MtCO2e financed emissions. Deduct 1 for InfluenceMap's 2025 finding that Lloyds directed more financing to fossil fuel companies than green companies at a 3.1:1 ratio from 2020-2024, despite net zero commitments. Deduct 1 for Rainforest Action Network's finding of £16 billion in fossil fuel financing

Halifax Sustainability Score: 46/100

Recently scored: Dentsu, Omnicom, Publicis Groupe, WPP

507 companies scored·4 score updates this week

Halifax·Financial Services / Banking·Halifax, United Kingdom·Founded 1853·Last verified 25 April 2026

out of 100

Making progressPending Review

Halifax (Lloyds Banking Group) has cut operational emissions 85% since 2018 and secured 100% renewable electricity via PPAs. But financed emissions dwarf these gains: £16 billion in fossil fuel financing 2016–2023, with lending to fossil fuels outpacing green finance 3.1:1 in 2020–2024. A December 2024 ASA ruling upheld greenwashing complaints over misleading renewable claims.

No challenges currently filed

The calculation

Every score shows its working.

Same formula for every company. No curve. No private weighting.

SINK = (0.3 × Base + 0.7 × Performance) × Scale

Industry base impact

Financial Services / Banking sector ceiling.

50 / 100

Performance score

Sum of the 10 rubric questions, scored 0–10 each.

58 / 100

Raw score

Weighted average before scale penalty.

(0.3 × 50) + (0.7 × 58) = 55.6

Scale penalty

Multiplier based on absolute emissions volume — physics-first.

× 0.82

Final score

Rounded. Making progress.

46 / 100

The ten questions

Where Halifax is strong, and where it isn't.

Strongest on Carbon Footprint — Operations and Energy Source (8/10, 8/10). Weakest on Controversies & Red Flags and Targets & Commitments (4/10, 5/10).

Where the evidence comes from

Every document used, listed.

21 sources used in this assessment. All publicly available. Each row shows which rubric questions it informed.

[1]Third-party verified

DitchCarbon — Lloyds Banking Group Emissions Profile

Ongoing

Every score shows its working.

Where Halifax is strong, and where it isn't.

Every document used, listed.

Where Halifax sits among financial services / banking peers.

Halifax's score over time.

This score is not currently being contested.

Related companies worth a look.

We'll let you know when the score moves.

Which companies moved this week, and why.