Three building societies – Norwich & Peterborough, Ecology and Kent Reliance – are aiming to become “carbon-neutral” in a campaign to ease global warming.
As part of the campaign, in partnership with environmental organisation Future Forests, the societies plan to plant trees to compensate for the carbon dioxide they produce. They are also encouraging customers to reduce carbon dioxide in their day-to-day living.
The West Yorkshire-based Ecology Society was set up in 1981 and has 7,000 members. It offers three savings accounts as well as renovation and self-build mortgages.
The volume of carbon dioxide created by its operations has been assessed by Future Forests and the Edinburgh Centre for Carbon Management. The society will be planting trees to offset this level.
Norwich & Peterborough has launched carbon-neutral mortgages as part of its Green Mortgage product range. For every carbon-neutral mortgage sold, it will be planting enough trees to offset 1.64 tonnes of carbon a year, the amount generated by a typical home, for the first five years of the mortgage.
Kent Reliance is planting trees in White Horse Wood in Kent to counteract the carbon dioxide produced from its 13 branches.
Future Forests founder Dan Morrell says: “Businesses from across an industry sector are now demonstrating their belief that we need to be responsible for the future and that we need to act now.”