Secure Trust Bank PLC (STBG) is pleased to announce that it achieved its carbon emissions reduction target for its operations a full year ahead of the original deadline of December 2025. This milestone underscores STBG's commitment to addressing climate risk in support of its corporate strategy.
As part of its environment strategy, STBG focuses on reducing the climate impact of its operations. Despite the relatively modest scale of its emissions, typical of the financial services sector, STBG set an ambitious target to reduce Scope 1 and 2 operational emissions* by 50% by the end of 2025, compared to its baseline year of 2021. By the end of 2024, STBG had successfully achieved a total reduction of 55.5%.
Key initiatives that contributed to this achievement include:
- Introduction of solar panels at STBG's two main offices in Cardiff and Solihull
- Office space rationalisation and implementation of more efficient building energy management systems in these two offices
- Removal of gas appliances from the head office in Solihull
- Complete phase-out of all petrol and diesel company cars
- Transitioning many drivers from plug in hybrid cars to electric vehicles
David McCreadie, CEO of Secure Trust Bank PLC, said: "This achievement is a testament to our strategic initiatives in energy efficiency and cost control. I would like to extend my appreciation to the STBG employees for their dedication to supporting our environmental strategy."
* Scope 1 and 2 refer to emissions generated from a company's own operations. At STBG, these include a number of component factors including;, electricity for premises, fuel for business mileage completed by company cars natural gas for premises, emergency generator fuel and heating ventilation and air conditioning (HVAC) system coolant leakage (fugitive emissions)..