ActiveThis profile is actively maintained
ActiveThis profile is actively maintained
25 Gresham Street
EC2V 7HN London
Executive Director and Group Chief Executive
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.
Banks and Climate
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.
Banks and Human Rights
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.
Global Human Rights Benchmark 2022
Lloyds Banking Group's human rights policies, processes and reporting were assessed as part of the BankTrack Global Human Rights Benchmark 2022. The bank is assessed as a Follower, with a total score of 4 out of 14.
Due dilligence: 1/5
The bank was also assessed on its responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations, for which it received an average score of 0/3. See the Response Tracking section of this profile for more details.
Tracking the Net Zero Banking Alliance
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.
Banks and Putin's war in Ukraine
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.
Throwing fuel on the fire: GFANZ members provide billions in finance for fossil fuel expansion
Europe’s largest banks falling short on climate and biodiversity action
European financial institutions heavily invested in companies involved in illegal Israeli settlements
New human rights assessment of banks shows slow progress and lack of action to address key gaps on reporting and remedy
Lloyds Banking Group commits to not directly finance new oil and gas fields
Jackdaw shows once again Shell is failing on climate. So why are its bankers failing to act?
New report: Largest European banks bankroll high-risk arms traders
Climate groups call on Shell’s bankers to stop Jackdaw gas field
New report: Despite ‘net zero’ rhetoric, world’s biggest banks continued to pour billions into fossil fuel expansion in 2021
What the war in Ukraine teaches us
Banks failing to address severe human rights impacts transparently, finds BankTrack research
Glasgow wrap-up: updates from banks and civil society at COP26
Climate groups call out banks lobbying for watered down Net Zero Commitments
Meet the banks funding the owners of the Cambo oil field
Banks due at UK’s ‘Green’ Investment Summit ‘financed £700 billion in fossil fuels since Paris Agreement’
Banks and biodiversity: are banks moving towards Kunming?
New report exposes billions in European financial support to companies in illegal Israeli settlements
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
Letter from ClientEarth to 17 banks regarding the Cambo oil field
North Sea oil field development shows banks’ hypocrisy over climate
New research puts big banks’ sustainability claims in doubt
Banks called upon to take action to protect biodiversity ahead of UN Biodiversity Conference in Kunming
UK banks’ support for coal industry has risen since 2015 Paris climate pact
The City of London, home of coal finance
New bank climate initiative fails to grasp urgent need to end finance for fossil fuels
Leading finance firms sign up to Mark Carney forum on low-carbon investment
More than half of Europe’s bank directors too compromised to end fossil fuel finance
Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement
Banking beyond deforestation
Six years of the Soft Commodities Compact failed to slow bank finance for deforestation
Equator Banks fail communities on consultation and grievance mechanisms, new study finds
Calls for Lloyd's of London to rule out insurance for Adani coal mine
New BankTrack Equator Principles reporting tracking tool launched
Equator Principles: New BankTrack database sheds light on patchy project name reporting
Yet another global bank rejects Arctic Refuge drilling
Lloyds set to halve carbon emissions it finances in 10 years
4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows
BankTrack 2019 Human Rights Benchmark: criteria and scope announced
Dirty Profits 7 - Out of Control: Irresponsible weapons transfers and future weapon systems
New report: HSBC a ‘crucial link in the chain’ of Palestinian oppression says War on Want
Banks provide billions for Dirty Diesel traders while failing to act on human rights, says new briefing
- Of 26 banks contacted, not one has pressured companies over toxic fuel exports to Africa
Europe’s biggest banks register €25 billion profit in tax havens
Fossil fuel divestment campaign grows as protesters target UK banks
New report calls for smaller, greener banking in post-referendum Scotland
Protestors to target Lloyds AGM over coal investments
Dirty Money - an interactive documentary
UK banks financing coal boom destroying Borneo rainforests
Seven of Bloomberg’s Top Ten “Greenest Banks” Are Climate Killers
Equator Principles goes beyond project finance, improves transparency
While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning
Time to Improve the Equator Principles, BankTrack Says
BankTrack to Equator Principles banks; ‘get the Outside Job done’
Financiers search for sustainable future
Sudanese president may have $9 billion with Lloyds bank
Equator Principles: Action, not words needed
Background briefing: Just 7% of global banks' energy financing goes to renewables, new data shows
Responses received to letters sent to signatories of the Glasgow Financial Alliance for Net Zero
Letter from BankTrack, 350.org, Bank on our Future and Uplift to 25 banks on Shell's proposed Jackdaw gas field
Banking on Climate Chaos 2022
A practitioner's guide for banks
Banking beyond deforestation
The Banking Environment Initiative (BEI) & the Consumer Goods Forum (CGF)’s ‘Soft Commodities’ Compact
Letter from BankTrack to Lloyds Bank on Lloyds Bank's Future Relationship with the Fossil Fuel Industry
Banking while Borneo burns
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.