Awards for Excellence 2018
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Lloyds Banking Group’s ‘Helping Britain prosper’ plan, launched four years ago, has put corporate responsibility at the top of the UK bank’s priorities. It was a bold initiative, addressing Britain’s housing needs, helping people plan for the future, helping businesses to start up and grow, championing diversity, supporting clean energy and tackling social disadvantage. It earns Lloyds the award for western Europe’s best bank for corporate responsibility.
The bank is a leader in terms of diversity and inclusion. In February, it became the first FTSE100 company to make a commitment to increase representation of black, Asian and minority ethnic colleagues, targeting 8% of senior management and 10% of the total workforce by 2020. The bank has previously been ranked number one in the Stonewall top 100 Employers for LGBT people, is currently the top financial services company in the list and ranked as a top trans-inclusive employer.
Social mobility has been one of the bank’s key areas of focus. During 2017, Lloyds created more than 1,200 apprenticeship positions within the group, almost half of which were taken up by external candidates from some of the UK’s most disadvantaged areas.
It has also taken large steps in financial inclusion in the UK.
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| Fiona Cannon, group director of responsible business and inclusion, Lloyds Banking Group |
“More than 16 million people have less than £100 in a savings account in the UK,” says Fiona Cannon, group director of responsible business and inclusion. The bank has established a customer vulnerability steering committee to better ensure it is serving low-income customers.
One way of stabilizing the financial system has been through supporting smaller credit unions. Lloyds has pledged £5 million to this sector over five years, with 66 credit unions to date receiving funding to help them grow. In addition, it is supporting credit unions through its employee volunteers, who advise them on managing a sustainable business. In making banking more supportive for all, Lloyds also led the UK in changing overdraft fees, working with local charities for advice.
Finally, the bank is a champion in the transition from fossil fuels to clean energy, launching a £2 billion clean growth commitment and issuing a £1 billion green loan for sustainable real estate.
In sustainable finance, it is often the case that what is not financed shows a bank’s commitment to sustainability just as much as what is financed. BNP Paribas is committed to both sides of this coin and it wins the award this year for western Europe’s best bank for sustainable finance.
In 2017, for example, the bank announced it will no longer do business with companies whose principal business activity is the exploration, production, distribution, marketing or trading of oil or gas from shale or tar sands – nor is it financing any oil or gas projects in the Arctic region. It also ceased financing related to tobacco companies.
But the bank is also spearheading the financing of new areas of industry that have a sustainable future and are in line with the UN Sustainable Development Goals (SDGs), with €155 billion committed as of end 2017.
