| Website | http://www.lloydsbankinggroup.com |
| Headquarters |
25 Gresham Street
EC2V 7HN London
United Kingdom
|
| CEO/chair |
Charlie Nunn Executive Director and Group Chief Executive |
| Supervisor | |
| Ownership |
listed on London Stock Exchange & NYSE
Lloyds Banking Group's complete shareholder structure can be accessed here. |
Lloyds Bank was originally founded in 1765. In 1995 it merged with the Trustee Savings Bank and traded as Lloyds TSB Bank between 1999 and 2013. Lloyds Banking Group was formed in January 2009 after Lloyds TSB acquired HBOS. The group is currently the largest retail bank in the United Kingdom. The group’s main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. Lloyds Banking Group operates under numerous brands such as Lloyds Bank, Scottish Widows, Bank of Scotland and Halifax.
LLoyds Banking Group's most important sustainability commitments can be found at the website sections listed below.
Lloyds Banking Group is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of Lloyds Banking Group's link to these deals.
The 2022 Banking on Climate Chaos report showed that Lloyds Banking Group provided US$ 12.65 Billion in financing to the fossil fuel industry between 2016 and 2021. Find further details on Lloyds Banking Group fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.
Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of Lloyds Banking Group fossil fuel policy below.
BankTrack assessed Lloyds Banking Group in its 2022 Global Human Rights Benchmark, where it achieved 4 points out of 14 and was ranked as a follower. In addition, Lloyds Banking Group scored 0 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.
Lloyds Banking Group is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.
BankTrack is keeping track of the public response of Lloyds Banking group to Russia's illegal invasion of Ukraine. Lloyds Banking group's public position on the war is unclear. Lloyds Banking group is scaling back its operations in Russia. We consider its exposure to Russia as limited. Lloyds Banking group supports the Russian fossil fuel industry through loans and underwriting. For further details, see the table linked below.
Lloyds Banking Group does not operate a complaints or grievances channel for individuals and communities that may be adversely affected by the bank's finance.
Stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance).
This page evaluates Lloyds Banking Group's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Following the bank's response: The bank has not provided details on how it monitored the progress of specific companies or how the bank monitored the impact on rights-holders involved in raising the issue with the bank of its own action of updating the Agriculture sector policy. Therefore, the score remains unchanged.
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