Environmental Reporting Guidelines
Scope of data
The reporting period for emissions corresponds with Virgin Money’s financial reporting year, which is 1
January to 31 December 2016. The data included within this report encompasses all reporting for Virgin
Money Holdings (UK) plc and its subsidiaries (The Group).
How we gather our data
GHG Reporting
We have a centralised Environmental team who gather and
review the data included within our environmental statements.
In order to calculate our emissions (measured in tonnes CO₂e)
we follow the environmental reporting guidelines and calculation
methods as prescribed by DEFRA/ DECC (Environmental
Reporting Guidelines: including mandatory greenhouse gas
emissions reporting guidance - June 2016).
Where possible, we utilise automated methods of data gathering.
All information is subject to internal quality checking, internal
auditing processes and, for Greenhouse Gas (GHG) reporting,
external assurance is also sought.
All information contained in our reporting documents is subject to
review and approval by the Board prior to publication.
For scope 1 and 2 disclosures we gather energy data (Kwh),
fugitive emissions data (Kg), and other fuel data (Litres or Miles).
For scope 3 disclosures we gather travel related data (Miles).
Appendix 1 provides full details of our data collection methods for
GHG reporting.
Environmental targets
We are committed to taking positive action to eliminate the impact
our activities have on the broader environment and aim to
achieve Net Zero Greenhouse Gas Emissions by 2030.
Emissions by scope 2016
Total 7,685.6 tonnes CO₂e
Throughout 2016, we have continued to review and understand
the key components of our impact on the environment, and how
we measure our corporate carbon footprint. We continue to make
good progress in reviewing and understanding how we use our
resources.
Omissions
The data gathering process for figures within our scope 1 and 2
reporting is continuous and calculated using the most accurate
information available, at the time. If more accurate data becomes
available or updated CO₂ emission factors are applied, this may
lead to a restatement of data. As a result of a comprehensive
energy consumption review at our Gosforth site, we have restated
prior period scope 2 reporting.
% of total
Carbon
Emissions
External Assurance
We engaged PricewaterhouseCoopers LLP to provide limited
assurance over our Scope 1 GHG emissions, as presented within
our 2016 Annual Report and Accounts (page 43).
A full copy of their independent limited assurance report can be
downloaded from http://uk.virginmoney.com/virgin/investor-
relations/corporate-governance/environmentalreporting.jsp
Scope 1
Scope 2
Scope 3
23%
64%
13%
Data for additional reporting
Energy
The emissions disclosed within the Annual Report and Accounts
cover all usage of electricity and natural gas within Virgin Money's
property estate. The figures disclosed reflect actual consumption
where known but an estimate has been included for Scope 2
emissions for the current and prior years.
Where the provision of this service is not controlled by Virgin
Money we look to obtain actual usage information from the
service owner and validate this information using a separate sub
metering arrangement where this is allowable. If a sub meter
arrangement cannot be used, Virgin Money is charged an
apportioned billing estimate based on floor area of the property.
Currently we have seven properties within our portfolio which are
subject to landlord recharge, five of these have sub-metering
arrangements in place to identify our direct usage, and charges
for the two remaining properties are apportioned by floor area.
All air travel is converted to tCO₂e at source by our travel provider
using DEFRA conversion factors.
Details of air travel conducted outside of our corporate travel
provider is gathered via our personal expenses process, this is
then converted to tCO₂e by use of the same conversion factor.
Rail travel
Information in relation to reported rail travel is provided by our
corporate travel provider or from our colleagues via our personal
expenses system. Information is gathered in relation to distance
travelled and the class of travel.
All rail travel is converted to tCO₂e at source by our travel
provider by use of the DEFRA conversion factors.
Business mileage claims in private vehicles
This category covers all travel incurred by our colleagues for
business purposes when using their own vehicle.
We currently purchase electricity from renewable (100% green
certified) sources for all sites within our contractual control. We
are continuing to engage with the landlords of the above seven
sites where we pay electricity through recharge invoices to
ascertain if they purchase renewable electricity. This remains a
key priority for our organisation to ensure all properties utilise
renewable energy wherever possible.
All data within this category is gathered from colleague expense
claims. Data gathered includes the distance travelled, journey
start and end point, actual miles travelled and the size and type of
vehicle engine.
Our energy suppliers record energy data through Automated
Meter Readings (AMR) for electricity and loggers for natural gas.
If this data is unavailable we look to use invoice data which is
validated in most cases by the provision of sub metering
arrangements within the estate.
Waste
In cases where financial year data is not available within our data
collection timescales, we will include estimated consumption
figures based on the readings from either the metering data or an
estimate calculated from previous consumption.
All energy information is loaded onto analysis software where it is
subject to a number of automated validation checks. The output is
then multiplied by the relevant emission factors (DEFRA) to attain
a tonnes CO₂e figure for our GHG reporting.
The data is then converted to tCO₂e by use of the DEFRA
conversion factors
Currently all reporting for waste is restricted to the “additional
reporting” category and is not reported as a voluntary disclosure
within our Scope 3 emissions.
There are two classifications of waste produced within our
business operation:
Secure (confidential) waste
Secure waste data covers all locations within our property
portfolio (stores, offices, lounges and other buildings). All secure
waste is collected at source via a third party contractor using
sealed waste bins. All secure waste is recycled for all locations.
Business Travel
Trade waste
All of the data gathered in relation to business travel is included
within our GHG emissions reporting. Information is gathered via
automated reporting from our corporate travel provider or
gathered at source from the submission of personal expense
claims by our colleagues.
Our trade waste data includes all locations within our property
portfolio and covers our day-to-day operational waste. Waste
from major construction or refurbishment projects is excluded.
Air Travel
Information in relation to reported air travel is provided by our
corporate travel provider. Information is gathered on a variety of
metrics which include actual distance travelled, whether the flight
was short-haul or long-haul and the class of travel.
Our data uses the methodology specified by the International Civil
Aviation Organisation (ICAO) in the classification of short haul /
long haul flights, where short haul is defined as anything less than
3000km.
The cabin class correction factor is used only on equivalent
aircraft types that support such differentiation and on long haul
flights. This provides a more accurate assessment of the actual
environmental impact of our travel decisions.
The collection of trade waste is carried out through a third party
contract and includes the provision of a picking process to
guarantee that a minimum of 85% will be recycled.
Water
Around 80% of our sites have meters to measure water
consumption. It is not currently possible to install meters at the
other sites. Our water consumption data is taken from all sites
with a metered supply. This is currently 79.51% of our network.
We have investigated installing meters at all other sites however
it has either been uneconomical or geographically impossible to
progress.
Appendix 1 GHG Reporting
The following table outlines the data collection methods used for each of the component parts within the GHG calculations:
Scope
Sub Category
Natural Gas
Scope 1
Emissions
Corporate
Vehicle fleet
(Direct travel)
Included/Excluded
in GHG Reporting
Included
Included
Unit of
Measure
Kwh
Litres/Miles
Fugitive
Emissions
Included
Kg
Generator Fuel
(Gas Oil)
Included
Litres
Electricity
Included
Kwh
Scope 2
Emissions
Data gathering method
Data from all properties which are managed / owned by the Group is
obtained via the use of automated metering arrangements. The meter
provides details of actual resource usage on ½ hourly basis. Where the
provision of this service is not controlled by the Group we obtain actual
usage information from the service owner and validate this information
via the use of a separate sub metering arrangement. Currently this
only applies to one property.
We currently operate two methods of data gathering for this section.
Pool Car & Van Fleet
All fuel data for these vehicles is obtained via the use of fuel card
arrangements.
Corporate Vehicle Fleet
Mileage data for these vehicles is gathered via our automated process
for personal expense claims. During 2016 our corporate fleet was
disbanded in favour of a colleague car allowance, information on all
miles travelled will continue to be gathered via our expenses system.
Information in this category is gathered via our maintenance provider as
part of a routine inspection for our plant equipment. If gas escaped
from the equipment it is assumed that the volume of gas used to
replenish it is also the volume which has been lost. The volume of gas
lost is converted into kg before converting to a tCO₂e equivalent.
The data for fuel is gathered via purchase of replacement, it is assumed
that usage of this fuel equates directly to the volume required to replace
supply.
Data from all properties which are managed / owned by the Group is
obtained via the use of Automated Meter Reading (AMR). The meter
provides details of actual resource usage on ½ hourly basis. Where the
provision of this service is not controlled we look to obtain actual usage
information from the service owner and validate this information via a
separate sub metering arrangement where this is allowable. If a sub
meter arrangement cannot be used we are charged an apportioned
billing estimate based on floor area. Currently this only applies to
seven properties within the portfolio. Where actual invoices have not
been received, consumption has been estimated based on the previous
month’s actual billing.
Following an investigation at our site in Gosforth, we have restated our
scope 2 energy emissions for 2014 and 2015. The estimate used to
restate the emissions was calculated using an uplift factor based on the
average of the original recorded usage for January 2014, January 2015
and January 2016 compared with the actual usage recorded in January
2017 from the repaired meter. The differential in consumption was
applied to previously recorded usage for 2014, 2015 and 2016 to arrive
at a revised figures for these years.
Steam
Generation
Air
N/A
Kwh
Included
Miles
Included
Miles
Scope 3
Emissions
(Voluntary
disclosures
for indirect
travel)
Rail (including
tube, tram and
metro)
Currently we do not use this method of energy production within any of
our operations.
We currently operate two methods of data gathering for this section.
Corporate travel provider
Data gathering for all flights within the category is provided via
automated reporting directly from our travel provider. Data is gathered
by both distance and class of travel to ensure the correct conversion
factor can be applied. All data from this method is included within our
calculation (100%).
Privately booked flights
The information for flights booked outside of our travel provider is
currently gathered via our corporate financial system. If the flight is
procured via third party invoicing the details are logged and then
manually overlaid onto our flight calculations. Items where the specific
travel details are not gathered at source (i.e. procured by corporate
credit card and reclaimed via the expenses system) are collected
centrally as part of our colleague expense claim and overlaid on to our
calculation.
We currently operate two methods of data gathering for this section.
Corporate travel provider
Data gathering for all journeys within the category is provided via
automated reporting directly from our travel provider. Data is gathered
by both distance and class of travel to ensure the correct conversion
factor can be applied. All data from this method is included within our
calculation (100%).
Private
Business
Mileage
Taxi Business
Mileage
Included
Included
Miles
Miles
Privately booked rail
The information for journeys booked outside of our travel provider is
currently gathered via our corporate financial system. Items where the
specific travel details are not gathered at source (i.e. procured by
corporate credit card and reclaimed via the expenses system) are
collected centrally as part of our colleague expense claim and overlaid
on to our calculation.
Details for all business travel conducted in private vehicles are
gathered via the use of our personal expenses system. Information
gathered consists of a distance, engine size and engine type.
We currently operate 2 methods of data gathering for this section.
Corporate Travel Providers
Data gathering for all journeys within this category is provided via the
companies operating corporate taxi accounts. Data is gathered by
distance and cost to ensure the correct conversion factor can be
applied. All data from this method is included within our calculation.
Privately booked taxis
The information for journeys booked outside of corporate accounts (i.e.
procured personally and reclaimed via the expenses system) are
collected centrally as part of our colleague expense claim and overlaid
on to our calculation.
Appendix 2 Restatement of Previously reported GHG figures
The following tables contain the previously reported and revised position for prior year GHG emissions following the attainment of
additional reporting data:
Table 1: GHG Emissions tonnes CO₂e
Scope 1 Emissions
Natural Gas
Travel
Fugitive Emissions
Generator Fuel (Gas Oil)
Total
2016
1,395.3
87.5
251.2
19.7
1,753.8
Restated
2015
1,445.0
105.0
313.4
5.3
1,868.7
Original
2015
1,445.0
105.0
313.4
5.3
1,868.7
Restated
2014
1,241.8
104.4
357.5
77.3
1,781.0
Original
2014
1,241.8
104.4
357.5
77.3
1,781.0
4,933.0
5,720.7
4,913.9
6,729.6
5,815.2
998.8
1,188.7
1,188.7
1,329.4
1,329.4
7,685.6
8,778.1
7,971.3
9,840.0
8,925.6
Scope 2 Emissions
Electricity
Scope 3 Emissions
Indirect Travel
Total Emissions
Indicates figures which have been restated
Table 2: Use of resources
2016
Energy
Restated
2015
Original
2015
Stated in Gwh
19.6
20.2
18.5
% from renewable sources
56%
51%
52%
Restated
2015
Original
2015
Restated
2014
Original
2014
3.11
2.61
3.67
3.33
Table 3: Intensity ratio
2016
GHG emissions per average FTE
2.66