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Lloyds TSB – Leading CO2 reduction commitment

May Day Network

Lloyds TSB has committed to the biggest company-wide CO2 reduction target of any FTSE top 20 company. To achieve this target, the company is reducing its own footprint while encouraging and empowering staff and customers to take action. Planned activity will reduce CO2 emissions by up to 150,000 tonnes over 5 years and result in almost £15 million of financial savings.

Process

Lloyds TSB is a leading UK-based financial services company with a turnover of £11 billion, providing a comprehensive range of banking and insurance services through its three core divisions.  Lloyds TSB is committed to reducing its carbon footprint and leading by example in encouraging and inspiring nearly 70,000 employees to join the environmental journey.

The company is carbon neutral but wants to go beyond offsetting by making a real commitment to reducing its carbon footprint. Lloyds TSB has set a stretching target of a 30% reduction in CO2 emissions by 2012 (based on 2002 levels).  As this target will present a challenge for business leaders and require a significant change in people’s behaviour, Lloyds TSB has secured personal commitment from the company Chairman, and executive board directors.

A Carbon Reduction Committee directs the reduction process:

  • CO2 calculations for all major property, procurement and IT projects
  • Implementation of a carbon management plan
  • Target reductions in energy consumption and travel

One of the key objectives of the committee is to engage and inspire staff.  Lloyds TSB has developed targeted communications via a range of channels to tell staff what they are doing and why, and to encourage them to join in.  This has led to the creation of a ‘Sustainability Network’ of staff from all levels and areas of the business who are committed to tackling climate change.

Impact

  • 220 people signed up to the sustainability network in 6 weeks and around 100 attended the first event.
  • Internal initiatives will save up to 150,000 tonnes of CO2 over 5 years and result in almost £15 million in financial savings.
  • Since 2002, over 64,000 tonnes of CO2 have been saved.
  • In 2007 almost 300,000 teleconferences were held in Lloyds TSB which would otherwise have involved travelling to meetings.

See also