Focused on the environment

As an office based financial services provider, we have a relatively low environmental impact.

This year, we continued to implement the objectives set out in our Environmental Policy and as a result, the Bank has introduced many initiatives to enhance our commitment to conducting our business in an environmentally responsible way.

As an office-based financial services provider, we have a relatively low impact on the environment. However, we aim to further promote awareness of the environmental issues amongst our employees in order to reduce consumption of resources and take measures to minimise our negative impact on the environment in which we operate.

In 2017, we appointed an independent consultant to undertake an environmental audit which, once complete, will highlight areas where we can improve and assist us in setting more effective objectives for becoming a greener organisation in 2018.

Activities in 2017

Some of the activities that we implemented during the year include:

  • Pro-active energy management and measures undertaken across our corporate real estate which resulted in a reduction of electricity and gas consumption in 2017
  • We now source all of our energy from green energy providers
  • Installation of a charging point for electric vehicles in our head office.

Greenhouse gas emissions:

  CO2e Tonnes
Emission type Location-based method Market-based method
Scope 1: Operation of facilities 12 -
Scope 1: Combustion 101 -
TOTAL SCOPE 1 EMISSIONS 113 -
Scope 2: Purchased energy (UK) 458 264
Scope 2: Purchased energy (rest of world) 452 -
TOTAL SCOPE 2 EMISSIONS 910 264
Total emissions 1,023 264

1 Location-based figure used where market-based not available

Greenhouse gas emissions intensity ratio:

  Total footprint (Scope 1 and Scope 2) - CO2e
  Previous year (2016) Current year (2017) Year on year variance
Turnover (£m) 201.4 238.1 18%
Intensity ratio - Scope 2 location-based method (tCO2e/£100,000) 0.004 0.004 -
Intensity ratio - Scope 2 market-based method (tCO2e/£100,000) 0.003 0.003 -

Notes

  • Our methodology has been based on the principles of the Greenhouse Gas Protocol, taking account of the 2015 amendment which sets out a ‘dual reporting’ methodology for the reporting of Scope 2 emissions. This means that UK electricity is reported using two methods
  • We have reported on all the measured emissions sources required under The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013, except where stated
  • CThe period of our report is 1 January 2017 to 31 December 2017
  • This includes emissions under Scope 1 and 2, except where stated, but excludes any emissions from Scope 3
  • Conversion factors for UK electricity (location-based methodology), gas and other emissions are those published by the Department for Environment, Food and Rural Affairs for 2017/18
  • Conversion factors for UK electricity (market-based methodology) are published by electricityinfo.org
  • The market-based methodology has only been applied to UK electricity supplies
  • Conversion factors for overseas electricity, gas and other emissions are those published by the International Energy Agency for 2016
  • Conversion factor used for R417A (F-Gas) is published by Linde Gas
  • Conversion factor used for R22 (F-Gas) is published by Department for Environment, Food and Rural Affairs for 2016/17
  • As the old office in India closed during the 2016 year, the following site and associated emission IDs have been retired and are not included within the 2017 report: India (Old Office)
  • The following sites have been added to the portfolio during the 2017 year: India Disaster Recovery Site (Hyderabad) and The Observatory
  • The addition of these two new sites into the portfolio has resulted in an increase in electricity usage and the associated Scope 2 Purchased Energy carbon figures
  • There has been a significant reduction in both diesel fuel usage and F-Gas recharges between 2016 and 2017
  • The reduction of reported diesel usage in 2017 is the result of increased usage in 2016 at the new India site where fuel purchased by OSB was used by contractors during the construction/refurbishment process
  • The reduction in F-Gas recharges is the result of no UK F-Gas refills occurring during the 2017 year.

Statement of exclusions

  • Global diesel/petrol use (for vehicles) has been excluded from the report on the basis that it is not material to our carbon footprint
  • It has been confirmed there is no LPG use within the estate either in the UK or overseas
  • It has been confirmed that there is no mains gas supply in relation to the India operations
  • Two UK sites: Heritable and InterBay, have been excluded from reporting as it has been confirmed that these are managed rented properties and are therefore considered to be Scope 3 emissions and are not readily available. An additional managed rented site has been added in the 2017 year – Newman Street. This has been treated as an exclusion in order to be consistent with the methodology applied to the Heritage and Interbay sites. We intend to collect data relating to managed rented properties during the 2018 year so that they can be reported as Scope 3 emissions in the 2018 report.

Focused on our community

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