Climate Action and Risk
Our Focus
We aim to understand the risks to our business associated with climate change so that we can maintain a strong credit discipline, capital allocation and risk management capabilities that support our specialised lending.
We also aim to minimise the harmful impact of our business on the environment by reducing Scopes 1 and 2 CO2e emissions from our operations, understand better Scope 3 emissions associated with our lending activities, and to use less and re-use more.
Measures, Disclosures and Progress
Report annually on our operational energy use and carbon emissions
Progress in 2024: We continue to disclose our operational energy and carbon emissions annually and full details can be found in our 2024 ARA.
Scope 1 and 2 CO2 emissions from our operations reduced by 50% from 31 December 2021 to 31 December 2025
Progress in 2024: By the end of 2024, STBG had achieved a total reduction of 55.5% Scope 1 and 2 operational emissions, meeting this target one year ahead of plan.
Compliance with the Task Force for Climate-related Financial Disclosures (‘TCFD’) requirements and related PRA regulations/Listing Rules
Progress in 2024: We continue to make Climate-related financial disclosures in line with the recommendations of the TCFD, latest disclosures are within our 2024 ARA .
Solar Powered Offices
In support of our CO2e emissions reduction target, we invested in energy-saving solar panels at our head office in Solihull in 2024, following the successful installation of solar panels in the Cardiff office in 2023.
By generating our own power, we save circa19 tonnes of CO2 annually, equivalent to planting 1,140 trees. Around 94 MWh of solar energy will be produced from the solar-powered system, which will help to power the day-to-day electricity for our offices, dramatically reducing the cost of energy bills. This comes in addition to us having already moved to renewable energy sources in these office locations.
Our Cardiff and Solihull offices also have electric vehicle chargers installed, which are free to use by colleagues.
In 2024, extra vehicle chargers were installed to meet demand in Solihull. In the same year, as part of our Green Car Scheme employee benefit, 27 electric vehicles were delivered to employees who opted for environmentally friendly travel via this scheme.
If you would like to know more, we'd love to hear from you.
For further information or to send notifications regarding the share capital or your shareholding in Secure Trust Bank, please email the Company Secretary.