The Co-operative Bank leads the banking industry with its ambitious sustainability agenda

Today, The Co-operative Bank has launched its externally-assured Sustainability Report alongside its 2021 financial results, providing an insight into The Bank’s market-leading ethical position in the banking industry.

The Co-operative Bank continues to champion its sustainability agenda following its 2021 leading Environmental, Social and Governance (ESG) risk rating from specialist agency Sustainalytics who named the Co-operative Bank as the best ESG-rated high street bank, with a negligible risk rating of 9.2.

The Bank’s biggest sustainability successes over the past year, highlighted in its second annual Sustainability Report, include:

• celebrating 14 years of being carbon neutral
• campaigning for our planet as proud ambassadors of the Climate and Ecological Emergency Bill
• consulting c.50,000 customers on ESG issues through its unique values and ethics poll

In 2022 the Co-operative Bank is celebrating its 150th year of providing ethical banking services, and is strongly positioned to have ambitious ESG targets for the future. Delivering positive change to communities and the environment is at the fore of its thinking, and the go forward plans for The Bank this year include:

• launching an updated Ethical Policy shaped by the views of thousands of its customers
• embedding ESG in the Bank’s governance by linking Executive Pay to ESG performance
• enhancing its ethical product base through products which tackle financial exclusion; promote energy efficiency in UK households and allow for ethical investment through ESG labelled bonds.

More of The Co-operative Bank’s future-focused commitments can be found here.

Commenting on the launch of the Sustainability Report, Maria Cearns, Managing Director of Customer and People at The Co-operative Bank, said:
“In our 150th anniversary of ethical banking, I am extremely proud of the way in which our Bank remains true to our co-operative heritage and values in everything that we do. Our unwavering commitment to these values has made us a natural leader in environmental and social issues today. The Bank’s 2021 Sustainability Report highlights our important work and achievements in promoting sustainable and ethical business in what was a pivotal year for our bank and we’re now looking forward to continuing to support our local communities and champion positive change in the face of the climate emergency as we move through 2022 and beyond.”