Vanquis Banking Group named as one of Europe’s Climate Leaders for the Third Year in a Row

An independent study carried out by the Financial Times and Statista recently named Vanquis Banking Group as one of Europe’s Climate Leaders for the third successive year.

The companies that are included in the study’s 2024 listing have achieved the greatest reduction in their Scope 1 and 2 greenhouse gas (GHG) emissions intensity over a five-year period (2017-2022).

Scope 1 and 2 GHG emissions come from company operations and from the energy it uses – last year Vanquis Banking Group again reduced these GHG emissions by 23%.

The research considers other factors too, such as transparency on Scope 3 GHG emissions, which arise elsewhere in their value chains, and collaboration with sustainability assessors, such as CDP (we currently hold a B-) and the Science Based Targets initiative (SBTi) that validated and approved our carbon reduction targets in January 2024. These factors are assigned a score, which is combined with the reduction in GHG emissions intensity figure, to produce an overall total for each company.

“It’s brilliant to get recognition for the work we’ve delivered over the past five years to reduce our GHG carbon emissions. By focusing on this work, we can continue to take decisive action on climate change which aligns with our Purpose and underlines our commitments to support the UN’s Sustainable Development Goals.”

Muhrah Al Sultan, Corporate Responsibility Manager