Friday 14 August 2020

TSB Bank launches tree-planting programme to offset impact of house moves

TSB Bank has launched a new programme where for every mortgage provided, the bank will plant a tree to help offset the carbon footprint of the house move for the customer.

It expects the scheme will see around 1,500 trees planted every month in three woodlands across England, Scotland and Wales as a result of its partnership with not-for-profit eForests.

When moving home, a typical removal lorry or large van emits up to 1.3 kilogrammes of carbon dioxide per mile - if a move results in 100 miles being driven, including the trip to the old property, the move to the new property and the return to the depot, total carbon emissions of 130 kilogrammes would be generated.

Over a 100-year lifespan, each tree will absorb approximately 500 kilogrammes of carbon dioxide, enough to offset the environmental impact of the house move.

Nick Smith, Head of Mortgages, 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, the 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”.