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12/07/22

Yorkshire Building Society has today (12 July 2022), published its first Environmental, Social and Governance (ESG) report providing an in-depth update on the progress it is making against the Society’s purpose ambitions and responsible business priorities.

Pauline Giroux, senior manager for Social Purpose and Sustainability, said:

Over the last few years, we’ve made significant progress in supporting our colleagues, customers and communities. We’ve been working towards fostering an inclusive workplace and have ensured we offer a competitive benefits package to attract and retain the best talent. We’ve always put customers at the forefront of our decision making, and we pride ourselves on excellent customer service.

Likewise, we’ve always given back to the communities we live and work in, through fundraising and volunteering for charities and good causes. We recognise the impact our operations have on the environment and have made significant investments over recent years to help reduce this.

In 2021 we’ve re-focused our priorities. We’ve continued delivering our purpose ambitions of helping people have a place to call home and improved financial wellbeing, underpinned by the delivery of value to our members. But we’ve also identified three additional areas of focus, which form our responsible business priority areas. These are: investing in our people, building a greener society, and operating responsibly.

The report reflects activities undertaken from 1 January to 31 December 2021.

Report highlights:

A place to call home

  • Helped 85,000 people to have a place to call home
  • Supported a record 42,000 people into their own home for the first time
  • Supported 144 homeless young people into their own home

Financial wellbeing

  • 127,000 people supported towards greater financial wellbeing
  • £1.8m investment into community programmes and charitable giving
  • 1,400 older people supported through a partnership with Age UK

Member value

  • Passed back an extra £41m to savers through a member loyalty programme and by increasing savings rates
  • £297m core operating profit
  • Delivered savings rates which consistently beat the rest of the market on average by 0.32%

Environment

  • 5% carbon footprint reduction
  • 5% of waste diverted from landfill

People

  • £1.09m investment in colleague training
  • 2,700 hours of colleague volunteering

Responsible operations

  • £104.1m tax paid

To read the full report please visit Our Reports | Your Society | YBS

All information correct at time of publication.

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