Climate Change Data

Finastra

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:27.4 KtCO2e/year
Scope 1 Emissions:0.5 KtCO2e/year
Scope 2 Emissions:4.5 KtCO2e/year
Scope 3 Emissions:22.4 KtCO2e/year

ESG Focus Areas

  • Climate Change
  • Diversity, Equity, and Inclusion
  • Financial Inclusion
  • Ethical Conduct
  • Responsible AI

Environmental Achievements

  • Reduced carbon emissions by 61% from 2019 baseline
  • Closed 5 Finastra-operated data centers in 2023
  • Migrated GHG accounting software to Watershed for improved accuracy
  • Purchased carbon credits to offset 100% of Scope 1 and 2 emissions and 20% of Scope 3 emissions

Social Achievements

  • 40% women employees
  • 50% women in Executive Leadership Team
  • 10,154 total hours of employee volunteering
  • Launched ESG Service, a SaaS solution for sustainable lending
  • Signed the CEO Action Pledge for Diversity, Equity and Inclusion

Governance Achievements

  • 55% women on the Board of Directors
  • 100% completion of annual compliance training
  • Published inaugural Task Force on Climate-related Financial Disclosures (TCFD) report
  • Established a robust Speak Up program to encourage ethical conduct
  • Developed a framework for responsible and ethical use of AI technologies

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero emissions by 2050
Short-term Goals:
  • Reduce Scope 1 and 2 emissions by 50% by 2025

Environmental Challenges

  • Scope 3 emissions are challenging to measure and evaluate, particularly purchased goods and services.
  • Future emission reductions may require improvements in green technologies not expected before 2030.
Mitigation Strategies
  • Switched GHG measurement platform to improve Scope 3 emissions measurement.
  • Developing a Sustainability and Social Responsibility Procurement Policy for 2024 to engage with supply chain sustainability.
  • Revised net zero target date from 2030 to 2050 based on SBTi criteria.

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct
  • Sustainability and Social Responsibility Procurement Policy (to be implemented in 2024)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol, TCFD

UN Sustainable Development Goals

  • Goal 1
  • Goal 4
  • Goal 8
  • Goal 9
  • Goal 10
  • Goal 11
  • Goal 13
  • Goal 17

Finastra's initiatives contribute to these goals through various programs focused on financial inclusion, youth development, environmental sustainability, and ethical business practices.

Sustainable Products & Innovation

  • ESG Service