UK bank Lloyds Banking Group announced that it has set a new target to facilitate more than £100 billion in sustainable and transition finance between 2027 and 2030.

The new goal, unveiled as part of the bank’s upcoming Accelerate 2030 strategy, marks an acceleration from Lloyds’ existing sustainable finance pace, with the bank recently reporting achieving £70.9 billion in sustainable financing activity from 2022 to 2025, as well as an expansion in focus to incorporate transition financing within the scope of the target.

Lloyds’ current sustainable financing targets include goals to reach £30 billion sustainable finance for Commercial Banking customers from 2024 to the end of 2026, and £10 billion of financing for EVs and £11 billion of mortgage lending for EPC A and B rated properties from 2025 through the end of 2027.

In the bank’s 2025 sustainability report issued earlier this year, Lloyd’s reported that it has reached £70.9 billion in sustainable finance since 2022, including £21.9 billion in 2025.

Notably, the expansion of the target to include transition finance follows similar recent moves by several banks, such as Deutsche Bank and Natwest, increasingly focused on channeling capital to facilitate the transition of hard-to-abate sectors.

Alongside the new target, Lloyds said that it has also developed a new Sustainable and Transition Finance Framework, although it is not yet available on its website. Lloyd’s current Sustainable Financing Framework sets out the bank’s methodology for classifying sustainable financial products, and also guides the development of sustainable finance products and offerings. In its most recent framework update, released in 2025, Lloyds said that it was reviewing the scope of the framework for future incorporation of the classification of transition finance.

In a post announcing the new target and framework, Khadija Ali, Group Director, Sustainability and Responsible Business at Lloyds Banking Group, said:

“As part of our Accelerate 2030 strategy, we want to help our clients navigate change with confidence, whether that means investing in new technologies, strengthening resilience, reducing emissions or preparing for the opportunities of tomorrow. Our new Sustainable and Transition Finance Framework provides a transparent and robust foundation for this work, helping direct capital towards both sustainable solutions and credible transition activities.”