|Date joined:||31 October, 2019|
|Initiatives:||Net Zero Banking Alliance and Principles for Responsible Banking|
|Reports:||Apr 21, Nov 21|
Virgin Money UK PLC is a United Kingdom-based company that operates through Clydesdale Bank PLC (Clydesdale Bank), Yorkshire Bank, B and Virgin Money brands. It offers a range of banking services or both retail and business customers through retail branches, business banking centers, direct and online channels, and brokers. Clydesdale Bank provides the United Kingdom retail and small and medium enterprises (SME) banking services. Clydesdale Bank’s products and services include mortgages, current accounts, deposits, term lending, personal loans, working capital solutions, overdrafts, credit cards and payment and transaction services. The Bank consists of approximately 160 branches.
Summary of sustainability strategy
The company’s ambition is to drive its sustainability ambitions through its business practices so that it can capitalise on the opportunities from being a more sustainable business and to mitigate the risks that will affect its business in the long-term.
Virgin Money UK PLC is focused on three material themes: improving financial well-being and inclusion; removing barriers business and community success; and protecting and nurturing the environment. These are the areas where Virgin Money can make the biggest impact, using its unique business assets to make a real and lasting difference. It has mapped these against the Sustainable Development Goals (SDGs) so it can identify how the company is supporting the Goals and driving a more sustainable future.
Virgin Money UK PLC recognises its wider business responsibilities – such as inclusion, employee well-being, and tax transparency. Virgin Money UK PLC holds itself to a high bar on these and will improve its performance year on year. The company has also begun to engage with a wide range of investor indices and is committed to improving its performance and disclosures, including TCFD, CDP and DJSI.