We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
We know that lots of people are starting to think green with their money but it isn’t easy to cut through the greenwash and assess how sustainable the different banks in the UK really are. We created the Finder Green Banking Awards to solve that problem.
Watch our video of the awards announcement or continue reading below to reveal our winners!
Green Bank of the Year for 2023
In order to decide our Green Bank of the Year for 2023 we assessed the UK’s most popular banking brands’ sustainability credentials across 3 key areas:
- Operational emissions – This represents the carbon footprint of a bank’s physical footprint including any branches it runs, vehicles it owns or offices it uses.
- Net zero targets – This shows us the ambition from the bank for making sustainability improvements in the future.
- Position on financing fossil fuels – This helps us understand whether the bank is financing major contributors to the climate crisis like the fossil fuel industry.
If you want more detailed information on any of this you can find it our methodology section.
Based on these three categories, Triodos Bank is our Green Bank of the Year for 2023 as the only bank to get excellent scores across the board. It boasts low operational emissions and is leading the pack by aiming for net zero for all emissions including financed emissions by 2035. From a financed emissions perspective, not only does it have no exposure to fossil fuels but its lending and investment activities in 2022 actually had a net positive impact on the environment. Now we know that many of you won’t have heard of this small ethically focused bank but you might be surprised that it has over 70,000 customers in the UK and eligible deposits up to a total of £85,000 are protected by the Financial Services Compensation Scheme.
There’s also a number of more well-known alternatives that scored well in the Finder Green Bank Awards. Digital banks with a smaller operational footprint tended to score well with Monzo leading the pack and Starling Bank close on its tail. If you’re looking for a bank with a high-street presence then your best bets are either Nationwide Building Society or The Co-operative Bank.
| Bank | Operational emissions | Net zero targets | Position on fossil fuels | Green Bank Rating | |
|---|---|---|---|---|---|
| Triodos Bank | Excellent | Excellent | Excellent | ★★★★★ | Read our review |
| Monzo | Good | Excellent | Excellent | ★★★★★ | Visit Monzo |
| Starling Bank | Excellent | Average | Excellent | ★★★★★ | Read our review |
| Nationwide | Average | Average | Excellent | ★★★★★ | Read our review |
| Co-operative Bank | Average | Average | Excellent | ★★★★★ | Read our review |
Green Digital Bank of the Year 2023
Digital banks have proved popular in the UK by offering user-friendly smartphone-based banking services so we created a Green Digital Bank of the Year category as part of the Finder Green Bank awards.
This was a close run race but our Green Digital Bank of the Year for 2023 is Monzo. Monzo stood out for its ambitious target of getting to net zero by 2030 which puts it well ahead of the 2050 targets that are the norm in the banking sector. It also scored well for its policy to not invest in or lend to fossil fuel businesses and, like other digital banks, its operational emissions benefit from a lack of branches. We’d still love to see a clear plan from Monzo on how it hopes to get to net zero by 2030 and improved disclosure on its financed emissions to push its score even higher.
Starling Bank is very close behind when it comes to sustainable digital banking. It has exceptionally low operational emissions and it has a clear policy to not invest in the fossil fuel sector. It is behind the pack when it comes to net zero targets though. It would need to target net zero in a year before 2050 to improve in this area or set a nearer term net zero operational emissions target like some of its peers. Revolut also fell behind by not having an ambitious net zero target or clarity on its financed emissions.
It’s worth noting that some digital banks did not score so well when it comes to sustainability. These tended to be the digital banks backed by a larger banking group. First Direct is part of the HSBC group and Chase Bank is backed by JPMorgan – both of which are major financiers of the fossil fuel industry and their scores were impacted accordingly.
| Bank | Operational emissions | Net zero targets | Position on fossil fuels | Finder Green Bank Rating | |
|---|---|---|---|---|---|
| Monzo | Good | Excellent | Excellent | ★★★★★ | Visit Monzo |
| Starling Bank | Excellent | Average | Excellent | ★★★★★ | Visit Starling Bank |
| Revolut | Excellent | Poor | Average | ★★★★★ | See account |
| First Direct | Subpar | Average | Subpar | ★★★★★ | Visit first direct |
| Chase Bank | Poor | Subpar | Poor | ★★★★★ | See account |
Green High Street Bank of the Year 2023
We know that some people prefer a bank they can visit in person and a longstanding reputation that they can trust. Sustainability may still be a factor for these people and that’s why we created the Green High Street Bank of the Year for banks with at least 50 branches in the UK.
Our Green High Street Bank of the Year for 2023 is Nationwide. Nationwide stands out for its lack of investment in the fossil fuel sector and its impressive approach to reporting on the emissions from its financing activities which is in line with the Partnership for Carbon Accounting Financials methodology. Its operational emissions are also at the lower end for a high-street bank and it has committed to being net zero by 2050. It has also set out its plan to create targets with the Science Based Target Initiative so approval on this front would improve its score further.
The Co-operative Bank was very close behind with its unique customer-led ethical policy that prevents it from offering banking services to companies in the fossil fuel sector alongside a bunch of other ethical considerations. It also has low operational emissions for a high-street bank and net zero targets in line with the industry. We’d need to see better disclosure on the bank’s financed emissions for it to take the win in this category though. Metro Bank is also worthy of a mention although it scored less well for its operational emissions.
At the other end of the table Barclays, Santander, TSB and HSBC all score badly against our methodology with significant exposure to fossil fuels in their investing or lending activities.
| Bank | Operational emissions | Net zero targets | Position on fossil fuels | Finder Green Bank Rating | |
|---|---|---|---|---|---|
| Nationwide | Average | Average | Excellent | ★★★★★ | Read our review |
| Co-operative Bank | Average | Average | Excellent | ★★★★★ | Read our review |
| Metro Bank | Subpar | Average | Excellent | ★★★★★ | Read our review |
| Bank of Scotland | Average | Good | Average | ★★★★★ | Read our review |
| Halifax | Average | Good | Average | ★★★★★ | Read our review |
| Lloyds Bank | Average | Good | Average | ★★★★★ | Read our review |
| NatWest | Subpar | Good | Average | ★★★★★ | See account |
| Royal Bank of Scotland | Subpar | Good | Average | ★★★★★ | See account |
| Ulster Bank | Subpar | Good | Average | ★★★★★ | Read our review |
| Virgin Money | Subpar | Good | Average | ★★★★★ | Read our review |
| HSBC | Subpar | Average | Subpar | ★★★★★ | Read our review |
| TSB | Average | Poor | Subpar | ★★★★★ | Read our review |
| Santander | Average | Subpar | Poor | ★★★★★ | Visit Santander |
| Barclays | Average | Subpar | Poor | ★★★★★ | Read our review |
Full green bank ratings table
If you want to see how your bank scores against our methodology then please see the full table below.
| Bank | Operational emissions | Net zero targets | Position on fossil fuels | Finder Green Bank Rating | |
|---|---|---|---|---|---|
| Triodos Bank | Excellent | Excellent | Excellent | ★★★★★ | Read our review |
| Monzo | Good | Excellent | Excellent | ★★★★★ | Visit Monzo |
| Starling Bank | Excellent | Average | Excellent | ★★★★★ | Read our review |
| Nationwide | Average | Average | Excellent | ★★★★★ | Read our review |
| Co-operative Bank | Average | Average | Excellent | ★★★★★ | Read our review |
| Metro Bank | Subpar | Average | Excellent | ★★★★★ | Read our review |
| Bank of Scotland | Average | Good | Average | ★★★★★ | Read our review |
| Halifax | Average | Good | Average | ★★★★★ | Read our review |
| Lloyds Bank | Average | Good | Average | ★★★★★ | Read our review |
| NatWest | Subpar | Good | Average | ★★★★★ | See account |
| Royal Bank of Scotland | Subpar | Good | Average | ★★★★★ | See account |
| Ulster Bank | Subpar | Good | Average | ★★★★★ | Read our review |
| Virgin Money | Subpar | Good | Average | ★★★★★ | Read our review |
| Revolut | Excellent | Poor | Average | ★★★★★ | See account |
| First Direct | Subpar | Average | Subpar | ★★★★★ | Visit first direct |
| HSBC | Subpar | Average | Subpar | ★★★★★ | Read our review |
| Danske Bank | Subpar | Subpar | Subpar | ★★★★★ | Read our review |
| TSB | Average | Poor | Subpar | ★★★★★ | Read our review |
| Santander | Average | Subpar | Poor | ★★★★★ | Visit Santander |
| Barclays | Average | Subpar | Poor | ★★★★★ | Read our review |
| Chase Bank | Poor | Subpar | Poor | ★★★★★ | See account |
More resources on Finder
More guides on Finder
-
Can you pay money into your bank account at the Post Office?
Discover who can pay money in at the Post Office, how you do this and whether your bank is supported at Post Office Everyday Banking.
-
How long does a bank transfer take?
Need to send a payment fast? Find out how long it might take.
-
Best side hustle ideas for teens
We’ve compiled a list of side hustle ideas, so you can give your teenager a nudge in the right direction next time they come to you asking for money.
-
Euro business accounts
Find out how euro business accounts work and who they might suit.
-
Bank of England base rate predictions: When will interest rates go down?
The Bank of England (BoE) sets the official bank rate 8 times per year. Here at the latest base rate predictions, including expert analysis.
-
Banking statistics UK: Biggest banks by market share and customers
What are the biggest and most famous banks? Which banks are winning and losing customers? How are opinions about banks changing? We have collected all the latest banking statistics here.
-
What are the most popular subscription services in the UK?
Brits spend over £2 billion every single year on subscription services – but which are the most popular and how is the market growing?
-
Christmas statistics: What’s the average spend in the UK?
In 2023, Brits are projected to spend £602 each on Christmas gifts, with the nation planning to splash £27.6 billion overall.
-
Mobile phone and internet usage statistics in the UK
87% of adults in the UK have a smartphone, but how much are we using them and which apps are most popular? We explore the latest statistics.
-
Unwanted Christmas gifts: How many do we receive?
An estimated £1.3 billion has been spent on unwanted gifts in the UK, with around 31 million Brits receiving a gift they did not want.