In 2024, Lloyds Banking Group completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Lloyds Banking Group has also provided a category-level breakdown for 8 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 20,441a | 21,727a | 27,473a | |
Total Scope 2 | ||||
Market-Based | 4a | 11a | 2a | |
Location-Based | 50,704a | 53,767a | 58,777a | |
Total Scope 3 | 664,022a | 81,728,101a | 84,622,365a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.8756a | 0.888a | 1.4207a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Lloyds Banking Group amounted to 71,145 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Lloyds Banking Group decreased by 5.76%, showing that the company has made progress in taking action to reduce the climate impact of its operations.a
In 2024, the total Scope 1 emissions of Lloyds Banking Group were 20,441 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, Lloyds Banking Group's Scope 1 emissions have decreased by 52.07%, reflecting a declining long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Lloyds Banking Group's Scope 1 emissions decreased by 5.92%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2024, Lloyds Banking Group reported Scope 2 greenhouse gas (GHG) emissions of 4 tCO₂e using the market-based method and 50,704 tCO₂e using the location-based method.a
Since 2019, Lloyds Banking Group's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 52.88%, reflecting a declining long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Lloyds Banking Group's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Lloyds Banking Group's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Lloyds Banking Group reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Lloyds Banking Group reported 664,022 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Lloyds Banking Group includes a breakdown across 7 of the 15 Scope 3 categories defined by the GHG Protocol, down from 8 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, Lloyds Banking Group reported total Scope 3 emissions of 664,022 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 100% of these emissions originated from upstream activities such as purchased goods and capital goods, while 0% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, Lloyds Banking Group's Scope 3 emissions have decreased by 97.96%, reflecting a declining long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2023), Lloyds Banking Group's Scope 3 emissions decreased by 99.19%, highlighting the company's efforts to lower indirect emissions from its value chain.a
In 2024, Lloyds Banking Group reported emissions for 7 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Lloyds Banking Group's Scope 3 emissions were:a
In 2024, Lloyds Banking Group reported Scope 1 greenhouse gas (GHG) emissions of 20,441 tCO₂e and total revenues of USD 23,345 millions. This translates into an emissions intensity of 0.88 tCO₂e per millions USD.a
In 2024, Lloyds Banking Group reported a Scope 1 emissions intensity of 0.88 tCO₂e per millions USD. Compared to the peer group median of 0.78, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Lloyds Banking Group ranked 15 out of 25 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Lloyds Banking Group is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Lloyds Banking Group reported a total carbon footprint of 735,167 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 99.1% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.a
The largest contributor to Lloyds Banking Group's total carbon footprint was Scope 3 emissions, accounting for 90.32% of the company's total carbon footprint, followed by Scope 2 emissions at 6.9%.a