Coventry Building Society has published its annual Sustainability Report, revealing its progress towards its ambition to be entirely Net Zero – after being a carbon neutral business for scope 1 and 2 emissions since 2021.
The report is a commitment to make its progress on sustainability goals clear and transparent and gives a summary of Environmental, Social and Governance (ESG) commitments and achievements to date.
At the core of the Society’s approach is a commitment to deliver against the United Nations Sustainable Development Goals.
The Society is committed to making a positive contribution to the challenge of climate change by reducing the environmental impact of its business activities.
At the heart of this commitment is their decarbonisation strategy which aims to make the Society entirely Net Zero.
The report also details the Society’s cost of living crisis support for its members, colleagues, and the wider society – including over £1m donated to partner charities that provide direct support to many of the most vulnerable in society.
Steve Hughes, chief executive at Coventry Building Society, said: “I’m really energised and motivated by what we’re doing to make the Society a sustainable organisation in the context of today’s challenges, not just looking internally but bringing together our skills, knowledge and resources to support others too.
“It can be easy to think that sustainability is just about environmental matters, and whilst it’s an important part of the picture, it’s not all of the picture. We’ve set ambitious goals to transform local communities, achieve Net Zero and change the way we do business, and we’re delivering.
He added: “Since 2021, we have been a carbon neutral business for our Scope 1 and 2 emissions. But we know we must go further along our value chain. We have opportunities which we will take to reduce emissions – for example, by encouraging our supply partners and customers to reduce their environmental impacts too.
“We need action from governments and regulators to create clear and fair rules for companies to make progress. But we must first lead by example. It is only by taking tangible actions that we can convince others to do the same. And it is only together that we can make a positive difference.”
