Coventry Building Society signs The Climate Pledge 

Coventry Building Society has become the first UK bank or building society to sign The Climate Pledge.

Co-founded by Amazon and Global Optimism in 2019, The Climate Pledge is a commitment by companies to reach net-zero carbon emissions by 2040—a decade ahead of the Paris Agreement’s goal of 2050. 

Signatories to The Climate Pledge agree to:

●       Measure and report greenhouse gas emissions on a regular basis.

●       Implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.

●       Neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially-beneficial offsets to achieve net-zero annual carbon emissions by 2040 — a decade ahead of the Paris Agreement’s goal of 2050.

Coventry Building Society, the UK’s second largest building society, published its first annual Sustainability Report in March, announcing its ambitions to be entirely Net Zero by 2040. And at its AGM in April, members voted to endorse its Climate Action Plan. 

The Society has also implemented a range of measures to help it reduce the impact it has on the environment, including installing solar panels at its new head office building, only purchasing 100% renewable energy and making all its business operations carbon neutral. And it launched its Green Together Reward last year to incentivise borrowers to make green home improvements.

Sophie Mason, environmental and sustainability lead at Coventry Building Society, said: “We’re proud to join The Climate Pledge to reinforce our commitment to sustainability and join a community that will share knowledge, ideas, and best practices. Together, we can take collective action to achieve net-zero by 2040 and save the planet for future generations.”

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