Danske Bank launches UK's first carbon neutral mortgage

Pictured as Danske Bank launches UK’s first carbon neutral mortgage are (from left) Chris Martin, head of climate risk & strategy at Danske Bank; Aisling Press, managing director of personal banking at Danske Bank, and James Dunlop, senior engineer at the Carbon Trust

DANSKE Bank has launched the UK's first mortgage to be certified as carbon neutral by the Carbon Trust.

The Carbon Trust measured the carbon footprint of providing mortgages, which includes the emissions generated throughout the mortgage life cycle.

Physical paperwork forms the largest part of the footprint but other activities taken into account include energy consumption in Danske's offices, digital paperwork at each stage, paper waste generation and a welcome box provided to customers.

The Carbon Trust has calculated the emissions per mortgage at 96kg CO2e, equivalent to driving 241 miles driven in an average car, or charging 11,678 smartphones.

To achieve carbon neutrality for its mortgage service, Danske has committed to keep reducing this carbon footprint yearly and to offset any remaining emissions by investing in projects that reduce emissions by the same amount as those generated by providing our mortgages.

Danske will work with carbon reduction specialists ClimateCare to offset the environmental impact of the mortgage by supporting wind energy projects in India.

First time buyers, home movers, and switchers, with a home Energy Performance Certificate (EPC) or Predicted Energy Assessment (PEA) rating of A-C, are eligible to apply for the Danske Carbon Neutral Mortgage (

Aisling Press, managing director of personal banking at Danske Bank said: “We're already carbon neutral in the heating and electricity we use in our branches and offices. So the mortgages we'll provide on greener homes won't contribute to rising greenhouse gas emissions. That's certified by the Carbon Trust.

“Domestic homes generate an estimated 15 per cent of the UK's greenhouse gas emissions, so improving the energy efficiency of our homes is crucial in the fight against climate change.

“As a leading mortgage lender, we have a responsibility to support customers who choose a greener home. We've therefore made the Carbon Neutral Mortgage our most competitively priced mortgage and launched a new cashback offer of up to £2,000.”

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