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A low impact business

Paragon is mainly engaged in mortgage, consumer and commercial finance and therefore its overall environmental impact is considered to be low.

Specialist Fleet Services (‘SFS’), a division of Paragon Asset Finance, leases refuse collection vehicles to local authorities throughout the UK. SFS undertake additional aftersales activities that include servicing, maintenance and breakdown support, hence has the most significant potential environmental impacts. The main environmental impacts of our other operations are limited to universal environmental issues such as resource use, procurement in offices and business travel.

Environmental risk management

Paragon’s environmental commitment is included within the Health, Safety and Environmental policy that is approved by the Chief Executive and the People Director and which is publicly displayed in its buildings. Energy data is collated by Group Services, the division responsible for managing the Group’s properties. Consumption figures for all the premises occupied whether directly owned or tenanted are actively monitored. This is reported to the business upwards to Board level.

SFS operates from several workshops around the UK and has exposure to several waste streams (oils, vehicle parts etc) that come from their own workshop activities. These are effectively managed under an environmental management system that is certificated to an International Standard – ISO14001:2015. SFS has a dedicated Health and Safety Manager with direct responsibility for environmental issues at all of its sites.

Environmental risk is considered within the Paragon’s operational risk management framework and is monitored by the second line Operational Risk function and the Operational Risk and Compliance Committee (’ORCC’).

Paragon complies with the Energy Savings and Opportunities Scheme (‘ESOS’). This is a UK Government initiative, under an EU Directive, and requires Paragon to identify and reduce its energy consumption. We are actively engaged in the data collection phase for the next Environment Agency compliance submission under ESOS due in 2019. We have implemented an Energy Working Group which reports to the Property Steering Group to prioritise and drive forward key recommendations for the more efficient use of energy.

Environmental policy

Paragon complies with all applicable laws and regulations relating to the environment. It operates a Green Charter to raise employees’ awareness of recycling and campaigns are also run to reduce various forms of waste such as food, consumables or energy.

Paragon’s Green Charter:

  • Ensures all buildings occupied by the Group are managed efficiently by its Facilities Team
  • Encourages employees to conserve energy
  • Promotes recycling by negotiating contracts and providing facilities to enable employees to re-cycle office waste and other used products
  • Controls business travel by promoting video conferencing between sites when appropriate and provides opportunities for employees to travel to work in various ways; such as providing cycle racks
  • Ensures liaison with the local community
  • Ensures that redundant IT equipment is disposed of within current directives / regulations (WEEE - Waste Electrical and Electronic Equipment)
  • Ensures that all fluorescent light tubes are disposed of in a safe manner, compliant with appropriate regulations
  • Arranges for paper waste products to be recycled, securely, by third parties

To find out more about our current environment initiatives, read our 2018 Annual Report

Environmental performance

Paragon’s environmental key performance indicators have been determined having regard to the Reporting Guidelines published by the Department for Environment, Food and Rural Affairs (‘DEFRA’) in June 2013.

Due to the nature of our business activities, we don’t consider that we have a significant environmental impact under the headings ‘Resource Efficiency and Materials’, ‘Emissions to Land, Air and Water’ or ‘Biodiversity and Ecosystem Services’ set out in the Guidelines, due to the nature of its business activities.

To find out more and follow our environmental performance, read our 2018 Annual Report

Paragon Banking Group PLC.  Registered in England number 2336032.  Registered office 51 Homer Road, Solihull, West Midlands  B91 3QJ.