|Date joined:||16 February, 2021|
|Initiatives:||Principles for Responsible Banking|
Coventry Building Society was founded over 130 years ago and operates exclusively in the United Kingdom, offering retail customers a range of savings and mortgage products. With total assets in excess of £50 billion and 2200 colleagues, the Coventry is one of the UK’s leading financial services organisations. Their purpose, as agreed by the Board of Coventry Building Society, is to give people the power to be better off through life. Coventry Building Society seeks to achieve this purpose through offering customers good value products that are simple, fair and transparent. As an organisation owned by its members Coventry Building Society further seeks to place customers at the heart of everything they do.
Summary of Sustainability Strategy
Coventry Building Society’s commitment to sustainability comprises the following pillars:
- Environmental – Coventry Building Society is working to reduce their own carbon footprint and broader environmental impacts. Coventry have committed to being carbon neutral for Scope 1 and 2 emissions by the end of 2021. The Society is also looking to utilise its position as a major provider of housing finance to bring forward products for lending customers which will encourage more environmentally sustainable outcomes.
- Social- Coventry Building Society has an inclusive model which places customers at the centre of everything they do. They also have an ambitious range of activities designed to support colleagues and the communities in which they serve.
- Governance- As a mutual business Coventry Building Society naturally has a strong governance framework with each eligible member having a single vote, which can be exercised annually at the Annual General Meeting.
Coventry Building Society is committed to advancing the sustainability agenda in a material way. Becoming a member of UNEP FI will serve both as a public demonstration of this commitment as well as provide a way of holding themselves to account to excel in the area of sustainability over the long term.