Lloyds Banking Group Plc
Primary Climate Goal
Lloyds Banking Group Plc's target annual Scope 1 + 2 emissions for 2030 should be equal to 12 Kt = 75% * 49 Kt, according to the company's stated climate goal.
In order to achieve this goal, Lloyds Banking Group Plc would need to reduce its emissions at least by -2.8 Kt per annum over the period from 2022 to 2030:
-2.8 Kt = ( 12 Kt - 38 Kt ) / (2030 - 2021)
This translates into a -7.5% reduction in 2022.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Lloyds Banking Group Plc aims to reduce Scope 1 + 2 by 75% by 2030 from a base year 2019
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Lloyds Banking Group Plc reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 30 September 2021 at 38 Kt (-1.4 /-3.5% y-o-y). Also positively, carbon intensity plunged to 1.7 t (-0.8 /-32% y-o-y).
Lloyds Banking Group Plc's Scope 3 emissions plunged to 1,152 Kt (
The company is committed to reducing Scope 1 + 2 by 75% by 2030 from a base year 2019, which translates into the estimated reduction of -2.8 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.