Tandem, the UK’s greener digital financial institution, has reaffirmed its dedication to local weather motion by partnering with Local weather Influence Companions (CIP) to offset 100% of its operational emissions for the final monetary 12 months. The financial institution bought over 3,300 tonnes of verified carbon credit, equal to taking up 700 vehicles off the street for a 12 months.
The funding builds on final 12 months’s success and continues to fund Rooftop Photo voltaic Vitality initiatives in Kenya and Uganda, delivering fast, high-impact, and measurable environmental and social outcomes. This initiative instantly displays Tandem’s ambition to assist make clear vitality accessible and inexpensive.
Credible local weather motion with microfinance integration
The Rooftop Photo voltaic Vitality initiatives instantly deal with the shortage of grid entry for a lot of houses in elements of Kenya and Uganda. By offering photo voltaic programs that embody LED lights, a lithium-ion battery, and cellular cost plans, the initiative brings microfinance to scrub vitality, making the programs inexpensive even for low-income households.
The advantages of the undertaking 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 acquire dependable energy for finding out, working, and staying related.
Natalie Taylor, director of consumer options at Local weather Influence Companions, praised Tandem’s strategy. “Tandem is demonstrating what credible local weather motion seems like by taking accountability now and supporting initiatives that ship fast 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 inexpensive vitality to communities who want it most.
Offsetting as one pillar in journey to internet zero
Tandem stresses that offsetting alone is just one part of its wider Sustainability technique and its journey to internet zero. The financial institution goals to keep up a impartial operational footprint whereas working vigorously to cut back emissions on the supply.
Tandem has dedicated to reaching internet zero by 2030 for Scope 1 and a couple of emissions and by 2050 for Scope 3 emissions, carefully following Science Primarily based Targets initiative (SBTi) steerage. In 2024, the financial institution efficiently reduce its Scope 1 and a couple of emissions by over 50% by transferring places of work and eradicating pure gasoline heating.
Whereas total Scope 3 operational emissions rose barely in FY24, primarily on account 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 commonplace in carbon credit, so it’s nice to once more companion 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 clients to keep away from over 70,000 tonnes of CO₂ emissions.
