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18 Annual Sustainability Report 19

ENVIRONMENT ENVIRONMENT 2019 2020 2021 2022 2023

Investors In the Scope Activity tCO e tCO e tCO e tCO e tCO e
2
2
2
2
2
Environment Scope 2 & 3 Leicester – electricity 14.52 8.83 7.34 8.45 9.54
Green Level generation and T&D
Ethos Scope 2 Sub Total 14.52 8.83 7.34 8.45 9.54
92.84 Home-workers n/a 44.05 44.36 15.75 35.63
The structure of Cambridge & Counties Bank’s
business model results in operations that have a tonnes of emissions Grey Fleet 31.21 3.18 16.67 32.33 36.90
naturally minimal direct impact. However, they in 2023 Scope 3 Sheffi eld site 1 n/a 2.77 10.97 9.07 8.17
remain important, so we continue measuring and
striving to reduce them. 0.80 Bristol site 1 n/a 0.94 0.31 1.99 2.17

Our indirect impacts, particularly arising from tonnes of CO e per £m Water (and wastewater) n/a n/a n/a 0.29 0.43
the assets we help customers finance, are 2

Scope 3 Sub Total 31.21 50.94 72.31 59.43 83.30

more significant and we consider these in the Off set
Governance section of this report. Total tonnes of CO e 45.73 59.77 79.64 67.88 92.84
140
2
2
tonnes of CO Tonnes of CO e per employee 0.28 0.32 0.40 0.32 0.42
2 *
(540 over last 5 years) Total Energy Consumption (kWh) – – – 178,058 253,742
* Total Energy Consumption includes UK Electricity, UK Site Gas, Company Owned Vehicles and Employee-owned vehicles (grey fleet).

2023 Highlights

Achieving the Green Level certification from Investors We expect to see the positive effects of our reduction We partnered with Octopus Electric Vehicles

in the Environment with an 80% score was a deserved initiatives in 2024, notably our employee electric in 2022 and now 5% of our staff drive electric

reward for our team’s dedication to enhancing our vehicle salary sacrifice scheme launched in November vehicles under the salary sacrifice scheme.

environmental practices. This recognition highlighted 2022. As we incorporate further components of Scope
our leadership commitment and progressive plans, An area of emissions that is difficult to assess 3 emissions, we will adjust our reporting accordingly to

while also pointing out opportunities for further is our financed emissions. To help us navigate offer meaningful year-on-year comparisons.
advancements in our actions and objectives. Our and manage our impacts we have joined the We’ve proactively invested in reducing atmospheric Part of our drive to increase efficiency and

most significant direct environmental impact is our Partnership for Carbon Accounting Financials. greenhouse gas levels by participating in the Gold reduce impacts is to print less. We have achieved

Greenhouse Gas Emissions. a 28% reduction in paper use since 2022.

Standard verified Zambia Western Province Safe
In 2023, our company’s carbon footprint totalled Water Project (Reference: GS11010 and GS11011).
92.84 tonnes, equating to 0.80. Notably, we While this technically renders us carbon neutral for

operate without gas heating or company vehicles. Whilst we have seen a reduction in our emissions the fifth year in a row, our focus has evolved towards
Consequently, our emissions inventory for the year per million pound of income, there has been a rise developing a Net Zero plan while maintaining our
primarily comprised Scope 2 emissions from our in employee emissions per capita since 2022 (rising commitment to investing in projects that yield positive Given the constraints of our business model and the
head office operations, along with Scope 3 emissions from escalating from 0.32 to 0.42 tCO e). This environmental outcomes.

2 nature of our premises, our direct impact on local
originating from leased facilities, remote workers, grey increase is due to an improvement in methodology biodiversity is limited. However, we actively offset this

fleet activities, and water consumption. that allows us to capture data for individual Reducing our impact by supporting biodiversity through charitable activity.

employees, rather than making a flat assumption

We are currently in the process of incorporating on emissions per employee. Even with this Our engagement with TCV (Conservation Volunteers)
our most significant Scope 3 emissions, notably our enhancement, we have a 50% error margin (17.82 We have partnered with demonstrates our dedication to enhancing biodiversity

financed emissions, into our overall environmental tonnes of CO e) in home-workers. This is due to a another B Corp, Treedom within our community.
2
impact assessment. To tackle this challenging task in 70% response rate from employees (which has been to celebrate colleague
a meaningful way, we have joined the Partnership for scaled up to 100%) and limitations in the data we achievements and show Community activity
Carbon Accounting Financials (PCAF). our appreciation with trees

collect around energy tariffs. We also have an error
This initiative has prompted us to reevaluate our margin of 10% (3.69 tonnes of CO e) in our grey planted in their name. Part of our community support includes active
2
data collection and quality assurance practices fleet. This is due to assumptions made over vehicle Though our organisational impact on waste is relatively involvement from our colleagues, dedicating time to

across all Scope 3 categories, with a particular focus and fuel type and does not recognise the impact small, we recognise the importance of responsible conservation efforts. This is a great example of how

on enhancing accuracy and completeness in areas of our introduction of electric car salary sacrifice waste management. Our ongoing efforts include the activities in our different focus areas overlap and

such as business travel, commuting, and remote scheme in 2022. Our challenge for 2024 is to measurement of all waste produced, distinguishing interact as conservation work has colleague wellbeing,

work arrangements. further enhance our data and reduce error margins. between landfill-bound waste and recyclables. community support and biodiversity benefits.