Skipton Group releases annual responsible business report as focus sharpens on strong environmental and social credentials in financial sector.

We’re really pleased to be releasing our Group Responsible Business Report today, covering Skipton Building Society as well as the wider Skipton Group .

It sets out our environmental, social and governance targets, as well as in-depth detail about the progress we’ve made towards them over the last 12 months. The report also includes the Society’s disclosures under the Taskforce for Climate-related Financial Disclosures [TCFD] framework.

Unsurprisingly, more of our customers than ever before [60% in 2022 vs 50% in 2021] are telling us that a commitment to reducing carbon emissions is now non-negotiable for them, as is a commitment to help tackle major societal issues. That echoes the wider financial sector, where recent industry research has revealed that environmental and sustainable credentials are important to more than half of consumers [55%] when it comes to choosing or changing bank account.

Across environmental, social, and corporate impact, some of the highlights from 2022 include:

· Skipton’s Charitable Foundation donated more than ￡1.3 million, while we’ve also made a commitment to donate 1% of Skipton Group’s profit before tax to charity in 2022.

· We’ve diverted 99.6% of our waste from landfill, as well as reducing the Society’s Greenhouse Gas emissions by nearly 20% compared to the previous year.

· We appointed EcoVadis to assess our the environmental, social, ethical, and sustainable credentials of our supply chain partners.

Head of ESG for Skipton Building Society, Stacey Dickens, said: “More than ever, we’re committed to help build a better society for our colleagues, our members, and their families, and a huge part of that commitment is making sure we’re as sustainable as we can be.

“2022 was a year that was supposed to see the return of some normality, but it instead brought fresh challenges, as well as evolutions of existing ones. From the continuing ripples of the pandemic, to the rocketing cost of living, to a worsening climate crisis, it’s absolutely incumbent on us to do what we can to support society when we can, and where we’re able to.

“We’re delighted with the progress we’ve made against our targets and ambitions, but there’s no getting away from the fact there is still so much work to be done. I’m looking forward to seeing the extent of Skipton’s positive social and environmental impact over the next 12 months and beyond.”

In reading the report, you’ll notice we’ve also included some facts and figures from other businesses in the Skipton Group for the first time. We don’t have to include them, but as the profile of the Skipton Group and its individual businesses grow, we feel it’s important to be transparent and up-front about the impact of the Group as a whole. We’ll be reporting on the progress of every Skipton Group business every year from now too.

To view or download the full report, you can click here.

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