Home Commercial Property TSB to offset carbon footprint of home moves

TSB to offset carbon footprint of home moves

by LLP Finance Reporter
13th Aug 20 3:08 pm

TSB has launched a new environmental initiative – the ‘Plant a Tree’ pledge. For every home move where a TSB mortgage is provided, the bank will plant a tree to help offset the carbon footprint of the house move for the customer, with around 1,500 trees planted every month.

In partnership with eForests, a not-for-profit organisation which aims to help combat climate change and through restoring woodlands, TSB will plant a variety of species of tree in three woodlands across England, Scotland and Wales.

When moving home, a typical removal lorry/large van emits up to 1.3kg of carbon dioxide per mile. For a house move that takes place over a distance of 100 miles (taking into account the journey to the old property, the move to the new property and finally the return to the depot), that’s a total carbon emission of 130kgs just for the transport alone.

Over its lifetime (typically around 100 years) each tree will absorb on average 500kgs of CO2 – enough to offset the transport carbon footprint linked to the house move and possibly more.

Nick Smith, head of mortgages at TSB said, “We know our customers want to reduce their carbon footprint and look for products that help them do that. This pledge offers this at no extra cost to our customers. It’s the first step of our ‘Do what matters’ plan to lower our environmental impact and help others do the same – and we look forward to doing more.”

Andrew Haining, founder of eForests said, “Every day, each of us contributes to the UK’s carbon footprint through activities like moving home. We all have a part to play in protecting the planet and now TSB customers can move home knowing they’re playing their part in reducing the impact of climate change. I’m really looking forward to working with TSB to grow more trees right across the UK.”

Sara Lom, CEO of The Tree Council added, “Whether it’s a single tree planted and cared for by an individual, or many thousands supported by forward-thinking companies like TSB, every tree matters to help tackle climate change, provide precious habitats for wildlife, and secure a green and healthy future for ourselves and our planet.”

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