Gatehouse Bank achieves carbon negative status

Jake Carter

October 21, 2021

carbon neutral

Gatehouse Bank has taken steps to lessen its environmental impact, and has now become carbon negative.

This means it offsets more greenhouse gas emissions than it is responsible for producing.

The Shariah-compliant bank has, for example, introduced paper saving measures in paper intensive processes, saving up to 30,000 sheets of paper per year.

It has also donated its unwanted IT equipment since 2020, saving 74,506kg of CO2 emissions.

In addition, to support other likeminded businesses, the bank has introduced a sustainable procurement policy.

Looking ahead, Gatehouse plans to lock in the reduction of carbon emissions related to business travel seen during the pandemic, encouraging colleagues to virtually connect with each other and clients, and be mindful about the necessity of carbon intensive journeys.

Charles Haresnape, chief executive at Gatehouse Bank, said: “At Gatehouse we recognise that severe changes to the climate will impact the economy and society in negative ways.

“We’re proud to have moved fast, becoming operationally carbon neutral a year after first measuring our emissions.

“We know that our biggest environmental impact is connected to the activity we finance, which is why becoming operationally carbon neutral is just a first step for us.

“Next in the pipeline are climate targets for our financed emissions.

“This kind of initiative strikes right at the heart of the ethical standards that underpin the bank.”

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