HBOS's climate change action plan
HBOS continues to deliver against the key commitments set out in its climate change action plan. HBOS's second annual Climate Change Report is available here.
In 2007, HBOS became carbon neutral in the UK. We achieved this through energy efficiency measures, purchasing 100% green electricity and carbon offsetting. Our primary concern has been and remains to reduce the emissions we make in the first place.
Measuring our emissions:
HBOS's carbon footprint is established by measuring the following operational CO2 emissions:
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Direct emissions from our premises e.g. our consumption of natural gas and our car fleet.
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Indirect emissions from the electricity we buy and from colleague business air and rail travel.
Our carbon footprint in the UK in 2007 was 53,577 tonnes.
How have we achieved this?
We have:
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Reduced our CO2 emissions by over two thirds (67%), from 163,000 tonnes in 2004 to 53,161 tonnes in 2007
- Purchased 100% renewable energy to power our entire estate
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Launched "Green Miles", our initiative to reduce the rate of business travel growth in the UK
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Offset remaining emissions by purchasing 100% "Kyoto Compliant" Certified Emissions Reductions. This strategy is endorsed by DEFRA's Code of Best Practice
We are the only bank to produce a standalone Climate Change Report, detailing our performance and targets and plans for the year ahead and beyond.
In addition, we are the first financial institution in Europe to carbon label one of its products, Halifax Web Saver, showing people how much CO2 each account produces.
Our commitments in 2008:
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We will reduce our use of resources - including energy, paper, water and waste. Detailed three-year targets are published in our Climate Change Report.
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We will launch a green mortgage.
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We will seek ways to further reduce the environmental impact of our estate.
For more information on our programme, please see our latest Climate Change Report 
and Environmental Policy .
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