Danske Bank launches UK’s first carbon-neutral mortgage
Danske Bank has launched the UK’s first carbon-neutral mortgage, to tackle emissions generated throughout the mortgage life cycle.
The mortgages, certified as carbon neutral by the Carbon Trust, will ensure physical paperwork is limited and recycled in Danske’s offices.
The Carbon Trust calculated that each mortgage produces around 96kg of carbon, equivalent to driving 241 miles driven in an average car or charging 11,678 smartphones.
The trust found that physical paperwork forms the largest part the footprint.
“Domestic homes generate an estimated 15 per cent of the UK’s greenhouse gas emissions, so improving the energy efficiency of our homes is crucial in the fight against climate change,” managing director of personal banking at Danske Bank, Aisling Press said.
“The mortgages we’ll provide on greener homes won’t contribute to rising greenhouse gas emissions.”
Energy consumption in the Danish bank’s offices will also be considered, as digital paperwork is encouraged at each stage to avoid too much paper waste.
Carbon emissions are sometimes inevitable, which has pushed Dankse to invest in projects that reduce emissions by the same amount as those generated by providing its mortgages.
Press added that the bank’s branches and offices are “already carbon neutral in the heating and electricity” it uses.
“We have a responsibility to support customers who choose a greener home. We’ve therefore made the Carbon Neutral Mortgage our most competitively priced mortgage and launched a new cashback offer of up to £2,000.”