8.6 C
New York
Monday, May 27, 2024
Home Challanger banks Starling Bank is about to offset its carbon emissions

Starling Bank is about to offset its carbon emissions

From 2021 the digital bank Starling is going to be on its way to becoming carbon neutral.

Read also: N26 client acquisition gets limited by BaFin

Starling’s total emissions were 7,731 tonnes of CO2 for the year leading up to 31 March 2021.

As a digital bank, Starling’s direct emissions (Scope 1 and Scope 2) are extremely low compared to more traditional banks.

However, Starling wants to do more. “Reducing emissions will only get us so far, so part of our plan involves buying carbon avoidance and sequestration credits to offset our direct and indirect emissions.” 

“Understanding our carbon emissions enables us to make targeted improvements as we continue to grow,” Anne Boden, CEO and founder of Starling Bank said.

“Climate change is one of the biggest challenges that we face globally, and Starling is 100 percent committed to playing its part in the fight against it, not just in the lead up to 2050, but starting right away. This is urgent and we know that our customers expect no less from us.”

Starling’s three UK offices – London, Southampton and Cardiff – run on renewable energy. They also have a Cycle to Work scheme on offer, which encourages employees to get a new bike through ‘salary sacrifice’ and save tax.

In March 2021, Starling’s personal and business account cards became the first UK Mastercard debit cards to be made from recycled plastic. The packaging is also 100% recyclable, including a more eco-friendly water-based glue.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit

MoneyLIVE has today announced that Revolut’s newly appointed UK CEO will be making her conference debut at MoneyLIVE Summit 2024, which is...

2024’s Financial Innovators: A New Era of Banking Startups 

In the wake of the COVID-19 pandemic, our world witnessed an unprecedented shift towards digitalization. The banking industry, in particular, has been...

C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March

On the 6-7 March 2024 MoneyLIVE Summit will return to London’s QEII Centre to unite over 1000 banking and payments leaders from...

The Evolution of Digital Wallets: A Shift from Physical Cards by 2030

By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.