Oxbury Forest Saver

Save today for a greener tomorrow

We are delighted to announce the launch of the UK’s first direct carbon mitigation savings account: Oxbury Forest Saver.

What is Oxbury Forest Saver?

Oxbury Forest Saver is  the UK’s first and only personal savings account  that directs your interest to plant trees on British farm sites to mitigate your carbon footprint as your return on investment.  

You can open this account with a minimum deposit of £1,000.00 and a maximum of £85,000. A deposit of £15,000 will effectively mitigate your carbon footprint for a whole year. Oxbury uses an Annual Equivalent Rate (AER) of interest of 0.70% to calculate your return. 

We are launching Oxbury Forest Saver as a series of campaigns. Campaign 1 is based on a fixed cost of carbon of £10.00 per tonne of carbon captured. Therefore a £15,000 balance generates £105.00 of interest which is the cost of  10.5 tonnes of carbon. This is equivalent to approximately 60-70 trees at an approximate cost of £1.55 per tree. 

You can use the  WWF Footprint Calculator  to find out your carbon footprint based on your lifestyle today. 

How does Oxbury Forest Saver work?

Oxbury Forest Saver Campaign 1 is a 1 year fixed term bond where accrued interest pays for dedicated tree planting rather than paying a financial return. 

There is a minimum balance requirement of £1,000 and a maximum of £85,000. As with all Oxbury savings accounts, full protection under the Financial Services Compensation Scheme (FSCS) applies and all savings balances are used to support British farmers and food production. 

By working with leading climate foresters, Forest Carbon, Oxbury Forest Saver Campaign 1 facilitates the planting of trees at a dedicated Oxbury Forest situated on Ruddenleys Farm in the Scottish borders.  You can find out about this specific project here. 

Oxbury Forest Saver Calculator

Please use our calculator to find out how much carbon you can mitigate as well as approximately how many trees will be planted based on your deposit amount. Alternatively, please us the WWF Footprint Calculator to find out your carbon footprint and input it to our calculator to find out how much you should deposit to mitigate your annual carbon footprint.  

Oxbury’s Forest Saver looks like exactly the kind of innovative new approach banks need to be offering customers if green finance is going to move beyond warm words to specific positive action.

What are the benefits to Oxbury Forest Saver?

A £15,000 deposit effectively mitigates your annual carbon footprint, with greater or smaller amounts mitigating certain activities such as flights or your entire household’s footprint.

Planting new UK woodland not only mitigates your personal carbon footprint but also provides other benefits:

  • Increases biodiversity, protecting a whole host of natural ecosystems
  • Improves UK air quality. Woodlands purify the air by absorbing gases such as sulphur and ozone
  • Provides farmers and foresters with additional work and income to support the local economy
  • Stabilises microclimate, purifies water and improves crop yields
  • A fully assured and audited route to carbon mitigation based on farms across the UK – you can view the planted forests via Oxbury's partnership with Forest Carbon
  • Receive a certificate notifying you of the trees planted as a result of your funding and an annual statement of tonnes of CO2 mitigated (also visible in the Oxbury App)

How much do I need to save?

Different savings values will mitigate different amounts of carbon-capture.  Based on the average British person’s yearly carbon emissions: 

  • £1,250 typically mitigates one month of a person’s carbon emissions (so, a smaller saving value can still partially address your carbon footprint) 
  • £15,000 will fund the necessary planting to remove an average individual's annual carbon footprint 
  • £35,850 will mitigate an average UK household annually 
  • £60,000 will mitigate an average UK 4-person household annually 

You can use the WWF Footprint Calculator to more accurately find out your carbon footprint based on your lifestyle. 

More about Oxbury Forest Saver

From founding, we committed to mitigating all carbon emissions from the operation of Oxbury Bank and mitigating the carbon footprints of our staff. Now we want to extend this opportunity to everyone via a savings account that also lets everyone contribute to helping the planet.

How your savings are protected

Your eligible deposits with Oxbury Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk or view the leaflet below.