Lloyds TSB to cut carbon footprint

Banking group Lloyds TSB has vowed to slash its carbon footprint by a third within the next six years.

In a move designed to "set an example" to the corporate world, the group unveiled the targets at its annual general meeting.

Lloyds said that it aimed to make the 30 per cent reduction by the end of 2012 - timed to coincide with the London Olympic Games, which is set to be the first "green" Games.

Any of the group's carbon emissions that cannot be eliminated will be offset, with plans for the entire business to be carbon neutral by the end of the year.

Lloyds TSB chairman Sir Victor Blank said: "As one of the UK's top companies, we believe that we have a responsibility to take a lead in reducing our carbon footprint.

"Rather than just offsetting we are committing to reducing our carbon emissions by cutting out unnecessary travel, buying renewable energy and better energy management."

Lloyds has progressively reduced its carbon footprint since 2002, cutting almost 36,000 tonnes of carbon dioxide by improving energy management in the company's buildings and buying renewable energy.

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