Pepper Money has replaced thousands of cheques with electronic payments as part of its commitment to the environment.

Last year, the lender sent more than 10,000 cheques to customers on the completion of their second charge mortgages, but the majority of these transactions will now take place electronically.

This could potentially save almost 300,000g of CO2 emissions by cutting down on print and postage, Pepper Money says.

The initiative follows the recent move of Anthony Keeble into the newly created role of director of environmental, social and governance (ESG) and is part of the lender’s long-term net zero strategy.

Pepper Money head of sales Tom Whitney says: “We understand the role that all lenders must play in helping the drive towards a carbon neutral economy. As part of this, we are not just investigating ways we can encourage more energy efficient home ownership, but we’re also looking at our own processes to see where we can make improvements.

“By moving from cheque payments to electronic payments, we’re able to provide a service that isn’t just more efficient but is also more environmentally friendly.”