Potential offtaker

Lloyds Banking Group

www.lloydsbankinggroup.com

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Which other companies from United Kingdom are actively involved in decarbonization initiatives?
  • Clifford Chance LLP
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  • Amey UK plc
  • KPMG Europe LLP
  • International Game Technology PLC
  • Lloyds Banking Group is a leading financial services provider in the United Kingdom, offering a wide range of retail and commercial banking services to its customers. The company has a strong presence in the UK, with over 1,000 branches and more than 30,000 employees. Lloyds Banking Group is committed to driving sustainable growth and is actively working towards decarbonisation and renewable energy.

    Decarbonisation is a key priority for Lloyds Banking Group, and the company has set ambitious targets to reduce its carbon footprint. The company has committed to reducing its operational carbon emissions by 50% by 2025, and to achieve net-zero emissions by 2030. To achieve these targets, Lloyds Banking Group is implementing a range of measures, including energy efficiency improvements, renewable energy investments, and the use of low-carbon technologies.

    One of the key ways in which Lloyds Banking Group is driving decarbonisation is through its corporate energy strategy. The company is working to reduce its energy consumption and increase the use of renewable energy sources across its operations. Lloyds Banking Group has already made significant progress in this area, with 100% of its electricity consumption now coming from renewable sources.

    In addition to using renewable energy sources, Lloyds Banking Group is also exploring the use of corporate power purchase agreements (PPAs) to support the development of new renewable energy projects. Corporate PPAs are long-term contracts between a company and a renewable energy developer, which provide a stable revenue stream for the developer and help to accelerate the deployment of new renewable energy projects.

    Lloyds Banking Group has already signed several corporate PPAs, including a 10-year agreement with ScottishPower Renewables for the purchase of 100% of the electricity generated by the 350 MW Whitelee wind farm in Scotland. This agreement will help to support the development of one of the largest onshore wind farms in Europe and will provide Lloyds Banking Group with a reliable source of renewable energy.

    In addition to its corporate energy strategy, Lloyds Banking Group is also working to reduce its carbon footprint through a range of other initiatives. The company is investing in energy-efficient technologies, such as LED lighting and building automation systems, to reduce its energy consumption and improve its operational efficiency. Lloyds Banking Group is also encouraging its employees to adopt more sustainable practices, such as using public transport or cycling to work, and reducing paper usage.

    Overall, Lloyds Banking Group is a leading example of a company that is committed to driving sustainable growth and reducing its carbon footprint. The company's focus on decarbonisation, corporate energy, corporate PPAs, and renewable energy is helping to accelerate the transition to a low-carbon economy and is setting an example for other companies to follow.

    ✓ Current offtaker under Corporate PPA's
    ✓ Re100 member
    ✓ Declared Net Zero commitment