Scottish Widows

Is Scottish Widows an ethical pensions brand?

Owned by Lloyds Banking Group Plc, Scottish Widows is a UK pension provider. Unfortunately, Scottish Widows does not reach The Good Shopping Guide’s minimum Ethical Benchmark. As a result, it has a low score on the Ethical Pensions Ratings Table and cannot be classed as an ethical brand.

To see how other brands within the Ethical Pensions sector score against Scottish Widows, visit the Ethical Pensions Ratings Table. The Ratings Table can help you to find out more about the criteria that a brand has to reach so that it can meet our minimum Ethical Benchmark.

The Good Shopping Guide encourages all brands to follow in the footsteps of our top-rated brands to adopt more ethical practices and apply for Ethical Accreditation.

What do Scottish Widows receive a top rating for?

Under The Good Shopping Guide’s Environmental Report category, Scottish Widows is awarded a top score.

Its parent company Lloyds Banking Group has a recent Environmental, Social and Governance (ESG) report on its website. Within the report, there are details of targets such as reducing greenhouse gases and waste. There is also a target for energy reduction within its recent Climate Report.

What do Scottish Widows receive a bottom score for?

Scottish Widows, unfortunately, receive a bottom score for Irresponsible Lending. This is due to Lloyds’ unethical investment practices, which includes allegations of financing a range of controversial practices, such as fossil fuel expansion, nuclear weapons companies and illegal Israeli settlements.

What can Scottish Widows do to improve its score? 

Scottish Widows’ score within The Good Shopping Guide is the result of a calculation of multiple ethical criteria. If Scottish Widows were to improve upon its bottom scores, including its bottom score for Irresponsible Lending, it could see its position rise on the Ethical Pensions Ratings Table.

Would your insurance brand benefit from Ethical Accreditation? Visit The Good Shopping Guide’s Ratings Tables to see which other brands within the Ethical Pension sector have been awarded with our ethics and sustainability certification, and our Ethical Mark. If you would like more information, get in touch or fill out a Free Initial Assessment form.