Climate Change Data

Bank of London and The Middle East plc

Climate Impact & Sustainability Data (2020, 2023)

Reporting Period: 2020

Environmental Metrics

Total Carbon Emissions:7191 tCO2e/year
Scope 1 Emissions:75 tCO2e/year
Scope 2 Emissions:6984 tCO2e/year
Scope 3 Emissions:133 tCO2e/year
Total Energy Consumption:10,958,176 kWh/year
Water Consumption:3,830,091 m3/year
Carbon Intensity:3.8 MTCO2e per employee (2020)

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • 29% decrease in paper consumption
  • 38% decrease in plastic usage
  • 129 MTCO2e GHG savings from paper reduction

Social Achievements

  • 75.1% decrease in customer complaints
  • 98% Customer Satisfaction Index (CSI)
  • 72% Net Promoter Score (NPS)
  • 40.6% decrease in employee turnover
  • 173 new hires
  • 24 interns trained
  • 88 fresh university graduates employed
  • 520 total volunteering hours
  • 12 health-related initiatives implemented
  • 11 youth/educational initiatives implemented
  • 2 environmental initiatives implemented

Governance Achievements

  • Zero data leaks
  • Zero corruption, fraud, bribery, and money-laundering incidents

Climate Goals & Targets

Environmental Challenges

  • COVID-19 pandemic
Mitigation Strategies
  • Acceleration Program
  • Business Continuity Plan
  • Remote working
  • Digital services
  • Economic support and relief package

Supply Chain Management

Responsible Procurement
  • Focus on local procurement (81% of suppliers)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Third-party Assurance: RSM Consulting W.L.L

UN Sustainable Development Goals

  • Goal 1
  • Goal 2
  • Goal 3
  • Goal 4
  • Goal 5
  • Goal 6
  • Goal 7
  • Goal 8
  • Goal 9
  • Goal 10
  • Goal 11
  • Goal 12
  • Goal 13
  • Goal 16
  • Goal 17

Alignment with SDGs is detailed throughout the report

Awards & Recognition

  • Best Islamic Digital Bank - Global (2019, 2020)
  • 5th Safest Bank in GCC (2020)
  • Best Islamic Digital Bank - Middle East (2019)
  • Best Islamic Digital Bank - Kuwait (2019)
  • Best Islamic Bank - Kuwait (2019)
  • Most Innovative Digital Bank - Kuwait (2019)
  • Best Mobile Banking App - Kuwait (2019)
  • First Place Award in Customer Service - Kuwait (2019)
  • Best Islamic Bank in Customer Service - Kuwait (2019)
  • Best Islamic Bank in a Decade - Kuwait (2019)
  • Kuwait’s Best Islamic Bank in Customer Service (2020)
  • Best Islamic Bank in Kuwait (2020)
  • Best Social Humanitarian Initiative - Noor Boubyan (2019)
  • Replacement & Nationalization of Manpower - GCC (2019)
  • Best Internal Audit Group - Kuwait & GCC (2019)
  • Best Fixed Account Provider (BLME) (2019, 2020)

Reporting Period: 2023

Environmental Metrics

ESG Focus Areas

  • Sharia'a compliance
  • Sustainable finance
  • Diversity & Inclusion
  • Community Investment
  • Climate Change

Environmental Achievements

  • Provided £20.74 million facility for a sustainable office project in Richmond-upon-Thames, targeting an EPC rating of A and BREEAM rating of Excellent.
  • Provided £23.1 million to finance the development of an eco-friendly purpose-built student accommodation block in central Nottingham.

Social Achievements

  • Employee Engagement Index of 86% (up from 84%),
  • Welcomed 159 new people into the Bank during the year.
  • Enhanced employee benefits (gym membership, referral scheme, UNUM support, minimum London salary increase, Matchable volunteering partnership).
  • Hosted numerous staff gatherings and fundraising activities for charitable partners.
  • Hosted first Women in Banking event in London.
  • Continued Isma'a speaker series and partnered with Fitch Learning for apprenticeship training programs.
  • Maintained 30% female representation in senior leadership roles and 43% female representation across all employees.
  • 64% of promotions in 2023 were awarded to women.

Governance Achievements

  • Appointed Deloitte LLP as the Bank’s auditor for the year ending 31 December 2024.
  • Annual training on conduct, anti-corruption, and anti-bribery for all staff, including Board members.
  • Appointed Conduct Champions from front-office business areas.
  • Implemented new Consumer Duty dashboards to monitor customer outcomes.

Climate Goals & Targets

Environmental Challenges

  • Global economic stresses (Brexit, Covid-19, Russia-Ukraine conflict, Middle East conflict, disruption to international shipping lanes).
  • Impact of climate change on borrowers and underlying property valuations.
  • Inflation, rising interest rates, and their impact on recruitment and retention.
Mitigation Strategies
  • Cautious approach to managing assets and liabilities during periods of rising interest rates.
  • Competitive remuneration package and benefits to attract and retain key staff.
  • Ongoing monitoring and management of costs.
  • Reverse stress test assessments to demonstrate adequate capitalization and liquidity.
  • Building approach to climate risk, incorporating it into the wider risk management framework.
  • Progress in climate change risk identification and addressing data gaps.

Supply Chain Management

Responsible Procurement
  • Rigorous due diligence requirements

Climate-Related Risks & Opportunities

Physical Risks
  • Flood risk (river and sea)
  • Surface water flooding
  • Subsidence risk
  • Coastal erosion risk
Transition Risks
  • Changes in laws and regulations
  • Shifts in supply and demand for commodities
  • Changes in consumer behavior and investor demand

Awards & Recognition

  • Inspiring Workplace Awards - Top 50 Inspiring Workplaces
  • International Investor Awards - Best Ethical Bank nomination
  • Moneyfacts Consumer Awards - ‘Excellent’ rating on 18-month, 2 and 3 year Premier Deposit Accounts