Atom Bank Acquires 25-Acre Woodland in Northumberland to Tackle Climate Change

Atom Bank, the UK’s first app-only bank, is charting new territory in sustainability by purchasing 25 acres of newly planted broadleaf woodland in Northumberland. This bold move makes Atom the first UK bank to pledge to become carbon-positive by 2035—a significant milestone in the banking sector’s sustainability journey.

The woodland, composed of species like willow, sycamore, birch, alder, and rowan, is expected to sequester 7,000 tonnes of CO2 as it matures. With annual operational emissions ranging between 500 and 700 tonnes, this initiative represents a substantial step toward offsetting Atom’s carbon footprint while supporting business growth. Remarkably, the land’s past as an open-cast coal mine makes its transformation into thriving woodland a dual victory—addressing both climate change and ecological restoration.

Unlike traditional carbon credit purchases, Atom has chosen to own the woodland outright, retaining control over carbon offsets and holding the asset on its balance sheet. This strategy reduces costs and ensures greater transparency and efficiency in achieving its sustainability goals.

Additionally, Atom plans to expand its efforts, with 100 hectares of additional land earmarked for acquisition or lending in the current financial year to deepen its environmental impact.

Atom’s ambitions align with the government’s push for net biodiversity gain, which requires new developments to enhance natural habitats. While the Northumberland woodland, registered under the England Woodland Creation scheme, doesn’t qualify for biodiversity credits, Atom is actively exploring projects that could generate these credits. Such initiatives could enable the bank to support housing development while mitigating its environmental impacts by fostering nature-rich ecosystems.

Atom has been measuring its carbon footprint for three years, achieving a 2.2% reduction in operational emissions last financial year despite a 600% surge in operating profit. This year, Atom will disclose the financed emissions linked to its lending activities, further advancing transparency and accountability in its sustainability efforts.

Atom’s approach to integrating sustainability directly into its operations sets a new benchmark for the banking industry. By combining innovative carbon offset strategies, biodiversity support, and measurable impact reporting, Atom Bank is reshaping banking and demonstrating how financial institutions can lead the charge in combating climate change.