Business news

Bank of Ireland invests £600,000 in energy-efficient LED lighting across UK buildings and branches

Posted By:
Bank of Ireland UK

12th Mar 2024

Bank of Ireland is investing over £600,00 to retrofit energy-efficient LED lighting in its Northern Ireland branches and offices across the UK to enhance energy efficiency, reduce its carbon footprint and contribute to a more efficient and sustainable operation.

Work is already underway to replace 5,500 energy efficient light fittings across the Bank’s 13 Northern Ireland branches and wider office estate across Belfast and Bristol.  When complete, the project will reduce the Bank’s lighting energy consumption by around 60%.

The retrofitting of LED lighting aligns with the ISO 50001 standard on energy management, which sets out how organisations can improve their energy use and conserve resources.

This announcement follows the Bank’s recent investment of £3m to deliver a new fleet of energy efficient ATMs to replace its existing network which will see its ATM energy usage more than halved.

Gail Goldie, Chief Executive Officer, Bank of Ireland UK said: “We are investing in a more sustainable future, and our energy-efficient LED lighting programme is a further example of this. This programme will help us to significantly cut our lighting energy consumption, further reducing our environmental impact. All of this is helping us make progress in meeting the ambitious green targets we have set for our business.”

In December 2022, The Science Based Targets initiative (SBTi) validated Bank of Ireland’s target of a 49% reduction in GHG from its own operations (Scope 1 and 2) by 2030, which supports its broader aim of net zero emissions by 2030. Overall, Bank of Ireland has made significant progress in reducing scope 1 and 2 emissions, reaching absolute emissions reductions of 90% since 2011, and a 42% reduction on the 2020 baseline.

Eamonn Hughes, Chief Sustainability and Investor Relations Officer, Bank of Ireland, commented “Energy efficiency is an important pillar of our ESG strategy and we believe that this investment not only benefits our bottom line but also underscores our commitment to reducing our environmental impact and contributing to a more sustainable world.”

Bank of Ireland has initiated a range of initiatives to minimise its environmental impact, including  planning a phased electrification of its fossil-fuel based space heating systems, further decarbonising operations.