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Lloyds to introduce carbon emissions app

Lloyds to introduce carbon emissions app

Lloyds Banking Group is to release a digital app to allow Commercial Banking clients to identify and make energy-efficient investments in their buildings.

Piloted in 2019, the energy efficiency app is one of a range of initiatives the bank is introducing to burnish its green credentials.

Efforts underway include a pledge to reduce the carbon emmissions it finances by more than 50% by 2030, the estimated equivalent of removing the emissions produced by almost a quarter of UK homes.

The bank is also sponsoring a social media campaign, asking customers to use the hashtag #YesBusinessCan to highlight the small and the big changes UK businesses are making to help build a low carbon economy. The top ten tweets will be promoted through a paid campaign on Twitter, to encourage other businesses to join the movement.

To help support customers on their sustainability journey, over 640 Lloyds Bank relationship managers have undertaken training on climate change and sustainability-related risks and opportunities in collaboration with the University of Cambridge Institute for Sustainability Leadership.

Elsewhere, Lloyds has struck a deal with the Woodland Trust to plant ten million trees over the next ten years. During the lifecycle of the trees planted, 2.5 million tonnes of carbon dioxide could be absorbed, equivalent to the harmful emissions produced from eight years of UK waste management, the Bank says.

Lloyds is also getting its own house in order, setting a long term target to reduce emissions by 80% by 2050.

António Horta-Osório, says: "The next decade will be crucial for protecting the planet for future generations, and financial services has a critical role to play. We are fully committed to supporting our customers, clients and colleagues to transition to a low carbon economy, working closely with other organisations and government to create the solutions that will accelerate progress."

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