Lloyds Banking Group

InfluenceMap Score
for Sustainable Finance Policy Engagement
C-
Performance Band
54%
Organization Score
57%
Relationship Score

Sector:
Banks
Head​quarters:
London, United Kingdom
Brands and Associated Companies:
Lloyds Bank, Scottish Widows, Halifax, Bank of Scotland
Official Web Site:
Wikipedia:

Sustainable Finance Lobbying Overview: Lloyds Banking Group (Lloyds) appears to have had limited engagement on sustainable finance policy.

Top-line Messaging 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). In response to the UK’s Treasury in 2022, Lloyds supported the proposal to update the regulatory principles for financial regulators on sustainable growth and refer to "climate change" and "net-zero economy".

Position on Sustainable Finance Policies In response to the UK Department for Work and Pensions (DWP’s) consultation in 2020 on climate risk governance and disclosures by occupational pension schemes, subsidiary 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’ Securities and Exchange Commission (SEC) on climate change disclosures. In response to the global sustainability disclosures proposed by the International Sustainability Standards Board (ISSB) in 2022, Lloyds Banking Group offered support with some exceptions, including concerns about Scope 3 disclosure requirements.

Lobbying Transparency: Lloyds does not appear to publish an account of its sustainable finance positions and engagement activities. Lloyds has disclosed a non-exhaustive list of its industry association memberships on its website, excluding industry associations which are actively engaged on sustainable finance policy, such as the Institute of International Finance (IIF) and board membership of the Association for Financial Markets in Europe (AFME), as well as subsidiary membership to The Investment Association. In a different page on its website under "Public affairs and policy", it does disclose a different list of industry association memberships, which includes AFME.

QUERIES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
WEAK
 
54%
 
54%
 
71%
 
71%
 
41%
 
41%
 
60%
 
60%
 
60%
 
60%
 
54%
 
54%
 
53%
 
53%

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.