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Our ESG Strategy

Environmental, Social and Governance Strategy

Our ESG Strategy

Environmental, Social and Governance Strategy

Our organisation wants to deliver value for all stakeholders and we have a vision, a purpose, and a business strategy that sets out how we will do this.  Our business strategy includes a commitment to:

“Always act with integrity and transparency to deliver value for all our stakeholders”

And our ESG strategy shows how we plan to do that.  Take a look at our short video to find out more.

Our ESG Focus areas

Our ESG strategy sets out the key issues or focus areas that we’ve identified as being important to our stakeholders.

These are linked to our business strategy and our core strengths, as well as being underpinned by our high standards of governance which run through all of our business processes.

Our focus areas also link to the United Nation’s sustainable development goals or SDGs.

It’s all summarised here:

Circular chart summarising STB’s ESG strategy in the context of its business strategy – the grow, sustain, care business strategy is shown at the centre. The next layer in the chart shows STB’s strengths – specialist, expert, diverse, ambitious. The next layer shows the ESG strategy’s five focus areas- climate action/risk, charity, customer trust, education and skills, ED&I. These are also listed separately to the side of the circular chart. The outermost layer - shows the business purpose – helping more consumers and businesses to fulfil their ambitions as well as the responsible business commitment -always acting with integrity and transparency to deliver value for all our stakeholders. Each focus area is also coupled with relevant sustainable development goals
Table with two columns headed ESG focus issue and measures/disclosures. Each focus issue is accompanied by a formal approach to how success in that area will be measured.

How we will measure progress

So that we can track our progress we’ve set out a series of measures and disclosures for each of our key issues and we’ve promised to publish our progress against these annually.  Our commitment is set out below:

Climate action/risk

Key focus areas

We aim to minimise the harmful impact of our business on the environment by reducing Scope 1 and 2 emissions from our operations and to use less and re-use more.

Measures/Disclosures

  • Reduce Scope 1 and 2 emissions by 50% from 31 December 2021 to 31 December 2025.
  • Compliance with the Task Force for Climate-related Financial Disclosures (‘TCFD’) requirements and related PRA regulations/Listing Rules.

Customer trust

Key focus areas

Build the trust of our customers through the way we treat them, by enhancing their experience, achieving high standards of customer service excellence and through the outcomes we enable for them.

Measures/Disclosures

  • Accreditation with the Government backed Customer Service Excellence quality mark.
  • Feefo Trusted Awards.
  • Awards from Moneyfacts.
  • HM Government Cyber Essentials Plus certificate.

Equality, Diversity & Inclusion

Key focus areas

Our vision is to be a successful inclusive business where all our people feel respected, can confidently be themselves and fulfil their potential. 

Measures/Disclosures

  • Maintaining/improving Great Place to Work® rankings for large companies, women and wellbeing.
  • HM Treasury Women in Finance Charter published targets.
  • Annual Gender Pay Gap reporting.
  • Maintaining/improving our Employer Network for Equality and Inclusion (‘ENEI’) TIDE Mark.
  • Maintaining our Disability Confident accreditation.

Education and skills

Key focus areas

Help all our colleagues through a wide range of skills and development opportunities to build their specialisations, increase their confidence, plan their career progression and make it happen.

Measures/Disclosures

  • Maintaining/ improving Great Place to Work® scores for career development.

Communities and charities

Key focus areas

Make a positive contribution to the communities in which we work and conduct our business.

Measures/Disclosures

  • Bi-annual report on supplier payment period in days.
  • Annual modern slavery statement setting out steps taken to eradicate modern slavery in our businesses and
    supply chains.
  • Total charities supported and annual fundraising for charity by colleagues and matched by the Group £-for-£.

There’s more about our ESG strategy and how we are delivering value for all of our stakeholders in our 2022 Annual Report and Accounts.

And find out about the pledges we’ve made, as a signatory of HM Treasury’s Women in Finance Charter, to promote gender diversity.