Tandem Bank's ESG Report for 2024 highlights real-world successes supporting consumers to transition to a lower carbon lifestyle.
The bank has delivered £572 million in green and ‘pathway to green’1 lending, enabling over 94,000 customers to cut an estimated 70,000 tonnes of CO₂ through energy-efficient upgrades to their homes.
The report is the green lender's most detailed ESG disclosure to date, and exceeds regulatory reporting requirements by aligning with the Task Force on Climate-related Financial Disclosures (TCFD) and the FCA’s anti-greenwashing rules, including detailed climate risk modelling and flood exposure assessments – setting out its strategy to reach net zero by 2050.
“We believe ESG is not just a reporting requirement — it’s core to our mission,” says Alex Mollart, Tandem’s CEO. “By funding green lending through our savings deposits and aligning our products with that green mission, we’re not just talking about impact — we’re enabling it.”
Key announcements:
A practical framework for sustainable lending
Tandem, which has seen significant success since re-positioning to focus on supporting the green transition, including sustained profit and a 40% growth YoY, has set up a comprehensive framework to underpin its green proposition:
This approach enables Tandem to offer clear, auditable definitions that prevent greenwashing while supporting a just and inclusive transition for UK households.
It’s also ensured a clear, set out purpose through every level of the bank.
This has meant further development of the proposition, including its revolutionary Green Hub which re-launched last year.
The Hub offers customers and non-customers alike a one-stop shop for support with their green transition – insight, expertise, helpful tools and finance options to enable consumers to make informed, greener choices.
Beyond compliance – full-scope ESG governance
Tandem’s ESG governance has been strengthened since the appointment of James Streeter as its Head of ESG.
Visit www.tandem.co.uk.
James Streeter, Head of ESG, said: “This report marks yet another milestone for Tandem.
1 Inclusive of green lending defined as aligning to EU Green Taxonomy, and 'Pathway to Green' lending, defined as Tandem's above average sustainability, relating to greenhouse gas emissions.
2 Ibid
We’re working closely to support our customers on their lower carbon journey too – so watch this space.”
If you save, borrow or spend with Tandem, you’re banking for a greener future.
From low emission motor loans, to lending for greener home improvements, to EPC discount mortgages and savings, its products make it easier for more people to choose a greener lifestyle – helping save money, whilst reducing carbon.
Together, we’ll leave the planet in better shape, because banking shouldn’t cost the Earth.
Visit www.tandem.co.uk.
Sources/references
1 Inclusive of green lending defined as aligning to EU Green Taxonomy, and ‘Pathway to Green’ lending, defined as Tandem’s above average sustainability, relating to greenhouse gas emissions.
2 Ibid
3 Blackpool’s estimated population ~140,000, UK average per capita emissions ~4.5 tonnes/year; best practice assumption that each mature tree absorbs about 60 kg CO₂ over a decade.
