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ESG Ratings
Sustainalytics 18.5 MSCI AA Moody's ESG Solutions 51

Embedding ESG in everything we do

We take the same approach to ESG as we do to banking; it should be straight-up, heartfelt and relevant. Our approach is to make sure our principles are transparent, easy to understand, and are used to guide and inform how we do business every day.

ESG is firmly embedded in our decision-making frameworks, governance, targets and in the strategic and financial planning schedule. We believe ESG, just like Purpose, is central to everyone’s role and responsibility and that this approach will make us truly sustainable over the long term by empowering colleagues and enhancing our Purpose-led culture. We have enhanced the climate-related measures, and the ESG scorecard contributes a 15% weighting to the overall LTIP, achieving our 2030 aspiration of linking variable remuneration to ESG progress.

As a signatory to the United Nations Principles of Responsible Banking, we are committed to aligning our business with the Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change. We are taking steps to enable us to continually improve our impact and contribution to society and have outlined our progress within the FY23 ARA.

The Board plays an instrumental role in leading our ESG strategy, with individual members of the Leadership Team sponsoring our ESG goals. Through deep dive sessions, supported by external experts, Directors have been building their understanding of the financial risks and opportunities of climate change throughout the year.

We are committed to developing our disclosures in line with Taskforce on Climate-related Financial Disclosures recommendations and improving access to and transparency of our ESG principles. You can access our ESG Resource Hub for more information on our strategy, policies and statements.

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