UK bank TSB targets net-zero carbon emissions by 2030

TSB Banking Group PLC's new climate strategy aims to achieve net-zero carbon emissions by 2030, joining many global financial institutions in aligning their operations and business with climate goals.

The British bank, a unit of Spain-based Banco de Sabadell SA, said Jan. 13 that it will reduce emissions from its office buildings and business-related travel. It also entered into partnerships with suppliers to cut its carbon footprint.

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"The bank will deliver a net-zero carbon pathway that meets international standards, can be independently validated, and only offsets carbon as the last resort," TSB said.

The bank joins financial institutions in explicitly setting goals to adhere to climate policies. Just recently, U.K.-based Aviva Investors Global Services Ltd. said it aims to reach net-zero emissions across its entire £47.3 billion real assets platform by 2040.