Lloyds Banking Group
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OVERALL |
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Owned |
UK |
Rating |
N/A |
Banking and financial services
One of the UK's largest banks. Formed by the 2009 merger of UK banks Lloyds TSB and HBOS. Operates under the brands Lloyds TSB, Halifax, and Bank of Scotland.
Lloyds Banking Group plc | UK | website |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Lloyds Banking Group plc | ||||
In 2023, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change score of A-.
Source: CDP (2023)
This company is a Carbon Trust Standard Bearer, signifying they have certified reductions in the environmental impact of their operations and supply chain
Source: Carbon Trust (2021) |
In 2015 the Fair Finance Guide ranked the top financiers of selected fossil fuels companies (loans & underwriting) and compared it to their financing of renewable energy. This bank appeared 25th in the list of top 25 fossil fuel funders, after providing US$10 billion for fossil fuels and only US$2.7 billion for renewable energy between 2009 and 2014.
Source: Fair Finance (2015)
The Insure Our Future campaign by a group of NGOs has ranked the world's leading insurance companies on fossil fuel insurance, fossil fuel divestment, and other climate leadership. This company was among the worst performers.
Source: Insure Our Future (2020)
Forest 500 identifies the 350 companies and 150 financial institutions with the greatest exposure to tropical deforestation risk, and annually assesses them on the strength and implementation of their deforestation and human rights commitments. This financial institution received a score of 19%.
Source: Forest 500 (2022)
The 2018 update of the International Campaign to Abolish Nuclear Weapons' (ICAN) global report, "Don't Bank on the Bomb" showed that 329 financial institutions from around the world invested into 20 companies involved in the production, maintenance and modernization of nuclear weapons. Since 2014 this financial institution invested over US$2 billion into 11 of the 20 nuclear weapons producers named in the report.
Source: ICAN (2018)
This bank is the world's 21th largest provider of loans and underwriting for single-use plastic polymer production, according to Minderoo Foundation's 2021 Plastic Waste Makers Index. Institutional asset managers and global banks are providing billions of dollars to companies that produce polymers from fossil fuels, as much as 100 times more than they provide to companies trying to shift to a circular economy. Plastic pollution is one of the biggest, most urgent threats facing our planet and our health.
Source: Minderoo Foundation (2021) |
This company has been criticised by ActionAid for having subsidiaries in tax havens. One of the main reasons companies have subsidiaries in tax havens is to dodge their taxes. Developing countries lose more to tax dodging than they receive in aid each year.
Source: ActionAid (2011)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: commit to 100% renewable power; commit to smart energy use; commit to electric vehicles.
Source: We Mean Business (2021)
This company appears on the 2021 Bloomberg Gender-Equality Index, signifying a commitment to supporting gender equality through policy development, representation, and transparency.
Source: Bloomberg (2021)
This bank is a member of the Banking Environment Initiative, which was created in 2010 by the chief executives of some of the world's largest banks. Its stated mission is to lead the banking industry in collectively directing capital towards environmentally and socially sustainable economic development.
Source: University of Cambridge (2018)
The Equator Principles (EPs) are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to assess and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
Source: Equator Principles (2018)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: company website (2018)
This company received a score of 59/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
This company received an S&P Global ESG Score of 52/100 in the Banks category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 21 Oct 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #38/400, with a total score of 28.9/100.
Source: World Benchmarking Alliance (2022)
This company is listed on the Facing Finance website as a financial institution which invests in companies that manufacture weapons or profit from violations of human rights, pollution, corruption, or international law. Follow link for further details.
Source: Facing Finance (2015)
BankTrack is a global network of civil society organisations and individuals tracking the operations of the banking sector and the activities they finance. BankTrack aims to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices. Follow the link to see this bank's profile.
Source: BankTrack (2018) |
Company Details
Type | Public company |
Revenue | 66 billion USD (2011) |
Employees | 98,538 (2011) |
Subsidiaries | Lloyds TSB Development Capital
Private equity firm Investment firm that targets midsized UK-based companies. Its activities span the construction, financial services, retail, industrial manufacturing, and information technology industries. Part of Lloyds Banking Group. Lloyds International Pty Ltd Banking and financial services Operates in Australia under three customer facing brand names: BOS International; Capital Finance and Lloyds Bank Corporate Markets. |
Contact Details
Address | London, United Kingdom |
Website | www.lloydsbankinggroup.com |