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

Bank of Ireland Commits to Energy Efficiency with £600,000 LED Lighting Retrofit

Bank of Ireland is making a significant investment of over £600,000 to retrofit energy-efficient LED lighting in its Northern Ireland branches and offices across the UK. This move aims to enhance energy efficiency, reduce the bank’s carbon footprint, and contribute to a more sustainable operation.

The project is already underway, with 5,500 energy-efficient light fittings being replaced across the Bank’s 13 branches in Northern Ireland and its office estate in Belfast and Bristol. Once complete, the project is expected to 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 guides organizations on improving energy use and resource conservation.

This announcement comes on the heels of Bank of Ireland’s recent investment of £3m to introduce a new fleet of energy-efficient ATMs to replace the existing network, resulting in a more than halved energy usage for ATMs.

Gail Goldie, Chief Executive Officer of Bank of Ireland UK, stated, “We are investing in a more sustainable future, and our energy-efficient LED lighting program is a further example of this. This program will significantly reduce our lighting energy consumption, further diminishing our environmental impact and helping us progress towards our ambitious green targets.”

In December 2022, The Science-Based Targets initiative (SBTi) validated Bank of Ireland’s target of a 49% reduction in greenhouse gas emissions from its own operations (Scope 1 and 2) by 2030, supporting the broader aim of achieving net-zero emissions by 2030. The bank has made substantial progress in reducing scope 1 and 2 emissions, with a 90% decrease in absolute emissions since 2011 and a 42% reduction from the 2020 baseline.

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

Bank of Ireland has also implemented various initiatives to minimize its environmental impact, including planning a phased electrification of its fossil-fuel-based space heating systems to further decarbonize operations.