Working towards a sustainable future

The impact we have on our people and partners isn’t just about numbers, it’s about care and stewardship too. We’re building climate-confident teams, so we can be a catalyst for good.

Supporting tomorrow’s generations

Climate change is a global issue, and we all have a part to play in protecting our future.

In 2019, we proudly became one of the pioneering banks to achieve carbon neutrality for Scope 1 and 2 emissions. We accomplished this through genuine emission reductions, as well as carbon offset credits usage. Since then, we’ve consistently maintained this status.

Wind turbine against blue sky

Our journey to net zero

  • We’re targeting to be net zero for all our Scope 1, 2 and 3 emissions, including those we finance, by 2035.
  • We’re driving for a 60% reduction in Scope 3 financed emissions from our loan book by 2030 (down from a 2022 baseline).
  • We’re aiming to achieve net zero for all our Scope 1, 2 and 3 emissions from our UK supply chain, including purchased goods and services, by 2028.
  • We’re also working towards making sure all our new property financing loans have a path to an EPC rating of at least B by 2030. Today, 83% of OakNorth-funded property investments have an EPC rating of C or above.

We’re taking a proactive approach to our emission targets, pledging our commitments ahead of many other businesses and setting ambitious targets for ourselves. You can read more in our TCFD report.

Supporting our customers in their transition to net zero

We’re proud to support businesses that are building greener futures and leading sustainable innovation in their industry.

We want to support at least 75% of our business trading customers in adopting a net zero target of their own. Over 20% of our current loans support businesses that place sustainability at the heart of their offering. Examples include Verto Homes, the UK’s first ever housebuilder to specialise in the design, build and sale of smart homes which produce zero carbon emissions; LNT Care, a carbon zero care home developer; and Deliciously Ella, a family-run plant-based food and beverage business.

Working with the wider industry to take climate action

We’re committed to working together with our peers to bring about positive change in our industry. Keeping ourselves accountable, we’ve become members of industry-wide commitments and groups, including, Tech Zero, the Partnership for Carbon Accounting Financials (PCAF), and Bankers for Net Zero.