Lloyds Bank Ad Banned for Misleading Environmental Claims

UK advertising watchdog ruled that Lloyds misrepresented its climate efforts while continuing to finance high-emission industries.

The Advertising Standards Authority (ASA) banned a Lloyds Bank LinkedIn ad for omitting key information about its contributions to greenhouse gas emissions.
The ad presented Lloyds as a leader in renewable energy investments but failed to disclose its significant financing of fossil fuel industries.
Lloyds' 2023 Sustainability Report revealed that the bank's financed emissions totaled 32.8 million tonnes of carbon dioxide equivalent in 2022.
Campaign group Adfree Cities filed the complaint, accusing Lloyds of greenwashing and calling for stricter regulations on high-carbon advertising.
Lloyds acknowledged the ASA ruling, stating the ad will not be repeated and reaffirming its commitment to achieving net zero by 2050.