CO2 emissions 14% lower than the same period in 2019

Carbon emissions remain 14% lower than the same period in 2019, according to recent research conducted by Carbon Trust. 

Carbon Trust analysed consumer spending data from Lloyds Banking Group’s customer accounts across the six key categories of food and drink, fuel, commuting, airlines, clothing and electrics.

Based on this analysis, Carbon Trust has estimated carbon emissions fell by 4.3 million tonnes during lockdown, this is a 14% decline from 2019.

The major disruptions to travel and commuting are a key factor behind this fall in emissions.

Emissions from airlines and commuting both dropped by 83%, resulting in a saving of 1.34 million tonnes and 1.32 million tonnes of CO₂ respectively.

Myles McCarthy, director at the Carbon Trust said: ‘The changes in spending were driven by a global pandemic not by choice, but our analysis of Lloyds Banking Group customer spending does demonstrate the link between the actions we take in our everyday lives and the impact these have on the level of carbon emissions, a major cause of climate change.

‘We have an opportunity to build on this increased awareness and create the low carbon businesses and infrastructure to help people reduce their impact on the environment.’

Fiona Cannon, business director at Group Sustainable at Lloyds Banking Group added: ‘Each of us has seen the devastating impact of the coronavirus pandemic, whether it be to our families, communities, businesses or livelihoods. We must play our part in helping Britain recover.

‘As part of our commitment to financing a green future together, Lloyds Banking Group has partnered with the Carbon Trust to better understand the link between the environmental impact of changing patterns of consumer spending. The analysis highlights that there is still the opportunity to build back better.

‘We must help our nation invest in tackling climate change, which is why we have provided over £6bn in green finance to businesses since 2016 through our sustainable finance initiatives.’

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