Tandem, the UK’s greener digital financial institution, has reaffirmed its dedication to local weather motion by partnering with Local weather Affect Companions (CIP) to offset 100% of its operational emissions for the final monetary yr. The financial institution bought over 3,300 tonnes of verified carbon credit, equal to taking on 700 vehicles off the highway for a yr.
The funding builds on final yr’s success and continues to fund Rooftop Photo voltaic Power initiatives in Kenya and Uganda, delivering speedy, high-impact, and measurable environmental and social outcomes. This initiative immediately displays Tandem’s ambition to assist make clear power accessible and reasonably priced.
Credible local weather motion with microfinance integration
The Rooftop Photo voltaic Power initiatives immediately handle the dearth of grid entry for a lot of properties in elements of Kenya and Uganda. By offering photo voltaic techniques that embrace LED lights, a lithium-ion battery, and cell fee plans, the initiative brings microfinance to wash power, making the techniques reasonably priced even for low-income households.
The advantages of the mission lengthen past carbon discount, delivering tangible social impacts. As kerosene use falls, CO₂ emissions drop, whereas indoor air high quality turns into cleaner and safer. Households achieve dependable energy for finding out, working, and staying related.
Natalie Taylor, director of consumer options at Local weather Affect Companions, praised Tandem’s strategy. “Tandem is demonstrating what credible local weather motion appears like by taking duty now and supporting initiatives that ship speedy excessive affect and measurable outcomes,” Taylor commented. She added that the rooftop photo voltaic initiative not solely cuts carbon emissions but in addition transforms lives by offering clear reasonably priced power to communities who want it most.
Offsetting as one pillar in journey to web zero
Tandem stresses that offsetting alone is just one part of its wider Sustainability technique and its journey to web zero. The financial institution goals to take care of a impartial operational footprint whereas working vigorously to scale back emissions on the supply.
Tandem has dedicated to reaching web zero by 2030 for Scope 1 and a pair of emissions and by 2050 for Scope 3 emissions, intently following Science Based mostly Targets initiative (SBTi) steerage. In 2024, the financial institution efficiently minimize its Scope 1 and a pair of emissions by over 50% by transferring places of work and eradicating pure fuel heating.
Whereas general Scope 3 operational emissions rose barely in FY24, primarily as a consequence of will increase in bought items and companies , the financial institution is actively tackling provide chain emissions by gathering sustainability information from over 150 suppliers.
James Streeter, Tandem’s head of sustainability, confirmed the long-term strategic focus. “CIP ship the gold customary in carbon credit, so it’s nice to once more accomplice with them—we all know that it’ll have an actual, tangible and measurable affect. However this is only one pillar of our Sustainability technique,” Streeter defined. He famous the financial institution is constant to roll out its Sustainability framework, reporting enhanced disclosures on all Scope 1, 2, and three emissions. Tandem’s most up-to-date report additionally highlighted that the financial institution enabled its prospects to keep away from over 70,000 tonnes of CO₂ emissions.
