Consumers warned by the first fossil-free certified bank that who they choose to bank with matters

• Switching to a Co-operative Bank current account from the least planet-friendly UK bank can reduce the carbon impact of your money by 86%.

• The Co-operative Bank’s new Sustainability Report is published in the context of banks worldwide pumping trillions into planet-harming fossil fuels.

New Sustainability Report from The Co-operative Bank highlights the progress made on reducing its environmental impact, and through supporting causes and communities across the UK. The report is published in the context of Europe’s banks failing to set credible net zero plans and the world’s 60 biggest banks committing $6.9 trillion to fossil fuels in the 8 years following the Paris Climate Agreement.

The bank was the first UK high street bank to be certified ‘fossil-free’ by consumer group Bank.Green, meaning they are committed to not investing in planet-harming fossil fuels, now or in the future.

Accompanying its report, The Co-operative Bank warns consumers that one of the most important things that they can do to reduce their own environmental footprint is to switch to a green bank.

By withdrawing money from banks who invest in fossil fuels, consumers can drastically reduce their own carbon footprint. According to MotherTree, switching to a Co-operative Bank current account from the least planet-friendly UK bank can reduce the carbon impact of an individual’s money by 86%. Not only that, but a current account with The Co-operative Bank generates the smallest carbon footprint from any current account available from a UK high street bank.

Throughout 2024, the Bank took significant steps to reduce its environmental impact, reducing its operational (Scope 1 & 2) carbon emissions by 14.8% in 2024. The progress supports its ambition to reach Net Zero on its operational carbon emissions by 2030.

Founded in 1872, The Co-operative Bank has proudly provided a real alternative to larger retail banks in the UK, and together with its customers, aims to make banking a force for good.

Angela Catlin, Head of Investor Relations, Corporate Affairs at The Co-operative Bank, said:

“All high street banks have a duty to stop funding fossil fuels which are rapidly contributing to global heating, but until they do, we’d urge consumers to consider the environmental impact of who they choose to bank with. Now, as part of the Coventry Building Society Group, the seventh largest lender in the country, we hope to influence our peers to join us and take meaningful steps towards protecting our planet.”

As well as managing its own environmental impact, The Co-operative Bank is dedicated to supporting communities to regenerate nature. Through its partnership with Friends of the Earth, 186 spaces have been transformed in some of the most nature-deprived areas of the country, with 19 community gardeners rallying communities to green their local area. By the end of 2026, the organisations are aiming to regenerate over 1,000 spaces across the country.

Jamie Peters, Interim Chief Executive Officer of Friends of the Earth, said:

"Our partnership with The Co-operative Bank has been transformative to the work of our Postcode Gardener Project. With their support, we can deliver this hugely important project nationwide.

We have projects across the country, most importantly in the most nature-deprived neighbourhoods, to bring back nature and bring communities together.

Thanks to our partnership, more people now have access to green space in their city – green space that is vital to overall mental and physical wellbeing”.

To read the report in full, visit: ESG and Sustainability Report - The Co-operative Bank (PDF).