Sustainable development and business practices
Managing our business in a sustainable way is good for the environment – It’s also vital for the long term growth and resilience of the Group. We have established long term ambitions to reduce our carbon emissions to net zero by 2030; and reduce our waste impacts to net zero by 2030.
Our environmental policy
Our commitment to managing our environmental impact is guided by our Environmental Standard which forms part of the Virgin Money policy framework.
- Our commitment - The standard recognises our commitment to meet key legislative compliance requirements and also covers our approach to environmental management and reporting.
- Taking action - The Group looks to act to reduce pollution, minimise greenhouse gas emissions and the use of natural resources by increasing recycling.
- Positive changes - In addition, the Group is looking to transition to lower emissions energy sources (where practicable).
- We report our Greenhouse Gas (GHG) emissions in accordance with the GHG Protocol, which sets a global standard for how to measure, manage and report GHG emissions. The Virgin Money Environmental Reporting Criteria outlines the methodologies and assumptions used in the Virgin Money UK PLC Group Environmental Reporting included in the Virgin Money Annual Report and Accounts. Virgin Money Environmental Reporting Criteria
- We set ourselves environmental performance targets to reduce our materials and resource consumption. The most recent UK environmental performance targets for greenhouse gas emissions, energy consumption and water consumption were set in 2022. Updates on performance against these targets are included in the Annual Report and Accounts within the section Strategic Report - Environmental, Social and Governance (refer to pages 30 to 32). Further targets have been set for 2023 and the period to 2025. Virgin Money UK PLC – 2022 Annual Report and Accounts
- KPMG LLP were engaged to undertake a limited assurance exercise using the assurance standards ISAE (UK) 3000 and ISAE3410 over the GHG data highlighted in the Annual Report and Accounts for 2022. KPMG issued an unqualified opinion over the selected GHG data. Virgin Money PLC – KPMG Signed Assurance Report