Bank of Scotland will announce that it has reduced its UK carbon emissions by 65 percent over the past two years and, in a first for a Scottish bank, will launch a new annual climate change report, The Sunday Herald reports.

As the bank embraces the carbon-neutral challenge by becoming the first major bank in the UK and the only Scottish bank to offset unavoidable emissions using only 100 percent Kyoto-compliant carbon credits, the new report will reveal that managing climate change is to become a crucial part of the bank’s approach.

The report confirms, according to the Herald, that the group reduced emissions from 163,000 tonnes of CO2 in 2004 to 57,000 tonnes in 2006.