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Finastra has teamed up with sustainable forestry company EcoTree to provide banks with a means to remove the carbon footprint associated with both the running and implementation of its technology.
Under the programme, EcoTree will plan and grow trees in biodiverse and sustainable forests across Europe to counter the impact of emmission generated with both the implementation and running of Finastra’s software.
Finastra will also use the service to balance its own emissions, supporting its goal to become carbon neutral by 2030.
Thomas Canguilhem, International CEO at EcoTree, says: “This move will reduce the environmental impact of vital technological solutions and stands out from traditional offsetting programs as we focus on eliminating carbon from the atmosphere for good.”
EcoTree’s methodology for calculating carbon capture and storage is verified by Bureau Veritas. Participating banks receive a certificate that proves a carbon removal contribution.
“Our partnership with EcoTree means that our customers’ supply chain carbon footprint or ‘Scope 3′ emissions with Finastra can be completely balanced,” said Jay Mukhey, senior director, ESG at Finastra. “Given our large global customer base, removing the digital carbon footprint both for our customers and for our business through our 10-year commitment to EcoTree’s sustainable forestry management initiative is a significant step, as we move towards our own carbon neutral goal by 2030.”
Financial Services
