You’ll find our green banking ratings on some our banking pages. We assess the banks behind these products using a system of 1 to 5 stars.
★★★★★ – Excellent
★★★★★ – Good
★★★★★ – Average
★★★★★ – Subpar
★★★★★ – Poor
How it works
To create our green banking ratings, we scored each bank on 3 key areas:
- Position on fossil fuel financing (30% of overall score). We think a key aspect to consider when assessing the sustainability credentials of a bank is where your money could end up. It’s a little known fact that many of the world’s best known banks provide financing to significant contributors to the climate crisis like the fossil fuel industry. We assessed each bank’s position on financing fossil fuels and how well they report on financed emissions more broadly. Banks report on financed emissions in different ways, making it tricky to do exact comparisons. We hope banks will find a way to do more comparable reporting so consumers can make a more informed choice. Where we refer to PCAF, this is the Partnership for Carbon Accounting Financials, which is an industry body that harmonises reporting of emissions.
- Operational emissions (35% of overall score). Greenhouse gas emissions are the best overall indicator of a company’s environmental impact and operational emissions are related to the day-to-day operations of the business. Think electricity used in the branches or the cars driven by the executives. For the sustainability experts among you, we assessed each bank based on absolute location-based Scope 1 & 2 emissions using revenue as a denominator to help us compare big and small banks fairly.
- Net zero targets (35% of overall score). We also assessed the future ambition of each bank when it comes to sustainability by looking at the net zero targets. The UN defines “net zero” as “cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests”. The earlier the bank is aiming to achieve net zero emissions the better it scored.
Position on fossil fuel financing | |
---|---|
Position | Score |
No financing acivities in fossil fuels sector with financed emissions fully disclosed according to PCAF | 10 |
No financing acivities in fossil fuels sector with financed emissions committed according to PCAF | 9 |
No financing acivities in fossil fuels sector with financed emissions not/partially disclosed | 8 |
Some financing activities in fossil fuel sector and financed emissions fully disclosed or committed according to PCAF | 6 |
Some financing activities in fossil fuel sector with financed emissions not/partially disclosed | 5 |
Significant financing activities in fossil fuel sector and financed emissions fully disclosed or committed according to PCAF | 4 |
Significant financing activities in fossil fuel sector with financed emissions not/partially disclosed | 3 |
Very significant financing activities in fossil fuel sector and financed emissions fully disclosed or committed according to PCAF | 2 |
Very significant financing activities in fossil fuel sector with financed emissions not/partially disclosed | 1 |
Operational emissions | |
---|---|
Emissions revenue intensity | Score |
Less than 1.5 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 10 |
Between 1.5 and 2.25 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 9 |
Between 2.26 and 3.0 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 8 |
Between 3.01 and 3.75 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 7 |
Between 3.76 and 4.25 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 6 |
Between 4.26 and 5.0 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 5 |
Between 5.01 and 5.75 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 4 |
Between 5.76 and 6.25 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 3 |
Between 6.26 and 7.0 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 2 |
More than 7.0 tonnes scope 1 & 2 CO2e emissions per £1m of revenue | 1 |
Emissions targets | |
---|---|
Target | Score |
Net zero by 2040 or earlier, SBTI approved near term target | 10 |
Net zero by 2040 or earlier | 9 |
Net zero by 2050. Net zero operations by 2030, SBTI approved near term target | 8 |
Net zero by 2050. Net zero operations by 2030. Near term financed emissions target | 7 |
Net zero by 2050. Net zero operations by 2030 | 6 |
Net zero by 2050. Near term target in place | 5 |
Net zero by 2050 | 4 |
Net zero by later than 2050 | 3 |
No net zero target | 2 |
More guides on Finder
-
The average price of a coffee in the UK and around the world
We’ve analysed data on the average price of a pint of a coffee in the most populated cities around the world and across the UK.
-
Finder Green Banking Awards 2024
These awards cut through the greenwash and recognise the banking brands in the UK which are sustainable and making a difference.
-
The ‘single tax’ revealed: What’s the true cost of being single?
Recent estimates suggest that over 8 million people live alone in the UK, so we’ve crunched the numbers to find the cost of being single.
-
Your survival guide to bank account switching deals
Are switching deals worth the stress these days? Here’s how to bag the most cash and keep your cool in the process.
-
Cost of living in the UK: Calculator to compare cities
Compare the cost of living in cities around the UK and discover the salary you would need to rent a 1-bedroom flat in each location.
-
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.
-
What is the average spend on holidays abroad?
We look at the average cost of a holiday abroad from the UK and how much Brits are spending on holidays per year.
-
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.
-
Disposable income in the UK: What’s left over after living costs?
Our analysis shows how much UK residents have left after paying for food and rent. Which are the best and worst cities for disposable income?
-
Current account switching statistics
We look at the latest current account statistics, including how many people are switching and the top reasons for doing so.