Our approach to ESG
ESG is short for Environmental, Social and Governance and refers to a set of standards or principles that manages Sainsbury’s Bank's environmental and social impacts in a transparent way.
We know our customers care about a wide range of complex issues that impact them and our wider world. They trust us to be a responsible business, whether that’s by supporting the communities we serve and source from, managing our environmental impacts or contributing to a healthier, more inclusive society.
We strive to do the best for our customers and business, addressing key ESG issues and living up to our Sainsbury’s values. We’re committed to driving improvements across the ESG agenda. We’re working across Sainsbury’s to get to Net Zero 2035 and driving bank-specific initiatives for E, S and G. We’re leveraging Sainsbury’s environmental agenda, and focusing on social and governance where we can add the most value. We’ve aligned our business to the principles of doing the right thing in how we make decisions and approve products for our customers.
We’re also part of Sainsbury’s Plan for Better initiative which sets out to tackle climate change by reducing carbon, food waste and plastic. This underlines the importance of climate-related issues and actions and highlights commitments the business is undertaking. Central to this is our core target to become a Net Zero operation by 2035. The Bank is part of this core commitment which includes making sure that our Scope 1 and 2 emissions, covering our direct and indirect emissions are appropriately monitored, measured, and aligned to this target.
David Wishart, Chief Risk Officer and Bank Executive sponsor for ESG
“Financial services have an important role to play when it comes to ESG, making sure that we act to help protect the environment, build a sustainable future for all, and deliver on our responsibilities to our society. The Bank is part of Sainsbury’s commitment to become a Net Zero operation by 2035 in a bid to limit global warming and we collaborate across boundaries and embrace difference to deliver the best customer and colleague outcomes. This is an ongoing project but we have good momentum and look forward to more great progress in the months ahead.”