Lloyds Banking Group

InfluenceMap Score
D+
Performance Band
59%
Organisation Score
52%
Relationship Score
Sector:
Financials
Head​quarters:
London, United Kingdom
Brands and Associated Companies:
Lloyds Bank, Scottish Widows, Halifax, Bank of Scotland
Official Web Site:
Wikipedia:

Lloyds Banking Group appears to have had limited engagement on sustainable finance policy. In 2020, Lloyds CEO Antonio Horta Osorio signed and commented on a Corporate Leaders Group letter calling on the UK's economic recovery from Covid-19 to be aligned with its 2050 net-zero goal. The group also appears to support action to achieve net-zero by 2050 as a founding member of the Net Zero Banking Alliance (NZBA).

Subsidiary Scottish Widows has engaged on pension regulation in the UK. In 2018, Scottish Widows responded to the DWP's consultation on pension trustees' investment duties, in which they advocated against a requirement for ESG and climate change considerations to always be included as material in the Statement of Investment Principles (SIP) and articulated some concerns about the feasibility of engaging with members on their ESG preferences. In response to the DWP’s consultation in 2020 on climate risk governance and disclosures by occupational pension schemes, Scottish Widows appeared generally supportive but cautioned against the implementation timeline, highlighting that information requirements should be applied throughout the investment chain.

More broadly, in a 2021 website article, Lloyds appeared to state support for the EU taxonomy and the recent focus by the US’ SEC on climate change disclosures.

Lloyds has described some engagements with specific sustainable finance policies in its ESG and Climate Reports, but has not included further details on direct policy engagement. Lloyds has also disclosed some of its trade association memberships, and some examples of engagements with industry associations, however, it has excluded key memberships and has not clearly described the management of its indirect influence.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
49%
 
49%
 
40%
 
40%
 
53%
 
53%
 
49%
 
49%
 
47%
 
47%
 
81%
 
81%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.