Tag: Lloyds Banking Group

Scotland wants to cut the carbon – but it’s a struggle

  • Research by Lloyds Banking Group shows 65% of people in Scotland see the environment as a top priority for post pandemic recovery.
  • However, nearly a quarter (23%) were unable to reduce their own carbon footprint in the second lockdown.
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Carbon emissions in Scotland dropped by 13% during the pandemic compared to the year before, according to analysis compiled by Lloyds Banking Group in partnership with the Carbon Trust.

The analysis considered the impact on carbon emissions resulting from changing consumer spending behaviour across six categories: food and drink, fuel, commuting, airlines, electrical stores and clothing stores. 

Restrictions on international and domestic travel as well as the increase in working from home have been significant factors in the drop in carbon emissions. Emissions from commuting reduced by almost two thirds (65%) and emissions from fuel fell by a fifth (20%) compared to the year before the pandemic.

At the same time, international travel restrictions meant that the carbon emissions from airlines dropped by more than three quarters (79%) compared to the previous year.

As the country prepares to emerge from lockdown, public support for the environment remains strong in Scotland, with 65% of the public ranking the environment as a top priority for post pandemic recovery.

However, it appears that ‘going green’ is a struggle as nearly a quarter (23%) were not able to reduce their carbon footprint in the second lockdown, the research revealed.

How the pandemic has impacted behaviour change

Many Britons are planning to make greener choices once restrictions lift, with seven in 10 (72%) saying they will make a conscious effort to cut their carbon footprint after lockdown.

Environmental reasons are also a factor for people thinking about a return to work, with almost three in 10 (29%) full-time employees citing this as a reason in their plans to work from home at least two to three times a week.

Generational differences can be seen in these emerging environmental behaviour changes. Nearly half (49%) of over 55s are planning to continue shopping locally compared to just 27% of younger generations (18–24 year olds). Older generations are also more likely to limit their car use than younger generations (36% and 23% respectively) and make improvements to their home’s energy efficiency (16% and 7% respectively).

Thrifty under 25s are planning to buy more items second-hand or upcycle them than older generations (35% and 22% respectively) and are focused on changing their diets to reduce emissions (23% and 13% respectively).

Philip Grant, Chair of Scottish Executive Committee at Lloyds Banking Group said: “Our research shows that the people of Scotland want the environment to be at the heart of our post-pandemic recovery.

“Lockdown’s have changed the way we live and work, and shown us how we can do our bit to help tackle climate change and live more sustainably.

“We all have a part to play which is why we are working with businesses, the government and communities to help make a positive impact on the environment.”

Myles McCarthy, Director at the Carbon Trust, said: “It is encouraging to see that the environment remains top of mind for two thirds of people in post pandemic recovery.

Lockdown has disrupted our lives in many aspects, challenging people from turning aspirations into action, while encouraging more sustainable habits like homeworking and local shopping.

“As lockdown eases, and in the run-up to COP26, it is time for consumers, citizens, businesses and governments to come together and build the enabling environment that will help turn climate ambitions into long-term impact.”

Lloyds Bank’s tech hub boosts digital spotlight on Scotland

Lloyds Banking Group has unveiled the next stage of its plan to boost Scotland’s fintech workforce in the fastest-growing digital economy outside London.

As part of the launch of its new tech hub in Edinburgh in March 2019, Lloyds announced a recruitment drive to create a new 500-strong team tasked with helping transform the digital experience for Bank of Scotland, Lloyds Bank, Halifax and Scottish Widows customers.

As part of the next stage in the development of the digital innovation centre, it has now joined forces with Fintech Scotland on the hunt for the country’s most exciting start-ups and young businesses for a new partnership.

The new incubator programme – Launch* – based out of the Edinburgh hub – will bring together start-ups and scale-ups to tackle the challenges of digital services and sustainability, with plans for its first industry showcase next year.

In addition to the tech hub’s team of software engineers and other digital roles which is more than 50% complete, – the first specialist mobile quality engineering team was created, adding an additional 16 roles to the tech-based talent pool in Scotland.

The Edinburgh hub was set up with the aim of transforming how the bank operates behind the scenes, creating new services and tools for customers, as well as enhancing Scotland’s thriving tech community.

Philip Grant, Chair of Lloyds Banking Group’s Scottish Executive Committee, said: “We’re putting lots of energy into shaping the financial services of the future to meet customers’ changing needs, and having cutting-edge fintech talent in action behind the scenes is key to keeping customers connected to their finances.

“We have just launched a pilot Scottish Widows mobile app to help reinvent saving for workplace pensions customers. Using digital features built by our engineers in our innovation labs, it will enable millions of people to start engaging with their pension in a similar way to their everyday banking by helping them see a clearer picture of their financial future.”

Nicola Anderson, Acting Chief Executive, Fintech Scotland, said: “Creating opportunities for collaboration across Scotland’s competitive tech scene will drive innovation as start-ups work together with established financial firms on how to trailblaze the industry’s future in partnership.

“The Launch innovation labs highlight Lloyds’ commitment to developing talent in fintech. It provides a boost in confidence for the industry and shows the power of collaboration for mutual benefit – we’re looking forward to seeing the results in next year’s industry showcase.”

The Group continues to be an active member of the wider technology scene in Scotland, hosting more than 5000 delegates at events and training sessions at its city centre hub last year as well as regular online webinars and courses.

At the start of the year – before the pandemic – it hosted more than 500 delegates at a number of events, including Queercode, the first LBGTQ+ coding meet up in Scotland. As well as working in partnership with Fintech Scotland and SQA-accredited digital skills academy CodeClan, the bank has also invested in providing training for colleagues who want to diversify into careers in technology.

It launched its own coding academy in 2018 which has now expanded from Edinburgh across the UK, as well as the WomenConnecTech network, to help provide opportunities and support to women looking to build careers in computer science. Graduates of the coding academy are now established software engineers working within the digital labs.