Multitude SE
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:229.787 tCO2e/year
Scope 2 Emissions:196 tCO2e/year
Scope 3 Emissions:29.787 tCO2e/year
Total Energy Consumption:534,813 kWh/year
Carbon Intensity:140 tCO2e per €M revenue, 200 tCO2e per €M financed through SME loans
ESG Focus Areas
- SME lending carbon emission
- Responsible lending
- Transparency
- Financial inclusion
- Customer satisfaction
- Employee well-being
- Cybersecurity and financial crime prevention
- Data protection
- Business ethics and integrity
- Diversity and inclusion
- Skills development
Environmental Achievements
- Published first Environmental Policy
- Total energy consumption of office buildings was 534,813kWh in 2022
- Initiated carbon footprint measurement program, including Scope 2 and 3 emissions
Social Achievements
- Launched Responsible Lending Index (score 4.3/5)
- Improved phishing simulation click rates by 70% compared to 2021
- Increased training hours to 5,168 in 2022 from 1,763 in 2021
- Donated EUR 70,000 to charities globally
- Implemented Hybrid Policy for flexible working
- Published Diversity and Inclusion Statement
Governance Achievements
- Established ESG governance structure with defined responsibilities
- Renamed Remuneration Committee to People and Culture Committee, including diversity and inclusion in its charter
- Published Group ESG Policy
- No incidents of bribery or corruption reported
- No substantiated customer complaints concerning breaches of customer privacy or data loss
Climate Goals & Targets
Long-term Goals:
- Net zero emissions by 2050
Medium-term Goals:
- Achieve 30% renewable energy by 2030
Short-term Goals:
- Reduce water consumption by 10% by 2025
- Increase digital purchases to 65% by 2025 (SweepBank)
- Achieve Ferratum Responsible Lending Index score of 4.5 by 2025
- Increase Ferratum educational content to 50% by 2025
- Achieve eNPS of 25 by 2025
Environmental Challenges
- Data gaps in carbon footprint measurement
- Uncertain economic times for customers
- Geo-political crises, rising inflation
- Employee well-being in hybrid work environment
- Intensified ESG regulation globally and in the EU
Mitigation Strategies
- Building collaborative teams to support data provision for carbon measurement
- Maintaining customer and employee focus
- Preparing for intensified ESG regulations, including the Corporate Sustainability Reporting Directive
- Implementing Hybrid Policy to support employee well-being
- Developing ESG risk management framework
Supply Chain Management
Responsible Procurement
- ESG assessment for key suppliers and business relationships
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI
Sustainable Products & Innovation
- Cardless and paperless banking
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:56,631 tCO2e/year
Scope 2 Emissions:254 tCO2e/year
Scope 3 Emissions:49,058 tCO2e/year (including financed emissions)
Renewable Energy Share:100% in Finland, Sweden, and Switzerland offices
Carbon Intensity:246 tCO2e per €M revenue in 2023
ESG Focus Areas
- Social parameter-aligned access to financial services
- Future-proofing environmental impact
- Transformative governance
Environmental Achievements
- Set net-zero targets for spend-based emissions by 2035 and Scope 2 emissions targets for global offices by 2030.
- Migrated from premise solutions to cloud solutions, enhancing Infrastructure as a Service (IaaS).
Social Achievements
- Achieved an eNPS target of 25 by 2023, reflecting efforts to enhance employee experience.
- Launched a customised leadership course with over 50 participants.
- Launched a new Employee Shareholder Program, giving each employee 50 free shares.
- Supported 13 charities in seven countries with a combined contribution of EUR 17,000 through the Charity of Your Choice initiative.
Governance Achievements
- Improved ESG Risk Rating from 2021 and 2022 to 21.4 as of 31 December 2023.
- Revised Whistleblowing Policy to align with requirements under the EU Whistleblowing Directive.
- Incorporated ESG considerations into the New Product Approval Policy (NPAP) for Multitude Bank.
Climate Goals & Targets
Long-term Goals:
- Net zero Scope 3 Purchased emissions by 2035
Medium-term Goals:
- Net zero Scope 2 emissions by 2030
Short-term Goals:
- Reduce Scope 2 emissions by 30% by 2025
- Reduce Scope 3 Purchased emissions by 20% by 2025
- Reduce SME loan carbon intensity by 20% by 2025
- Achieve eNPS of 4.5 by 2025
- Over 50% of Ferratum's online content to be educational by 2025
Environmental Challenges
- Data availability varies across markets and companies for financed emissions calculations.
- Managing climate-related risks relevant to the organization.
- Addressing greenwashing risk.
Mitigation Strategies
- Using PCAF methodology for measuring and disclosing financed emissions, navigating data gaps with proxies.
- Mapping the impacts of climate risks on existing risk categories within banking activities and addressing climate risk in a Group-wide materiality assessment.
- Pursuing a transparent reporting approach strengthened by comprehensive stakeholder engagement.
Supply Chain Management
Responsible Procurement
- ESG consideration in the RFP stage of vendor selection
- Use of FSC-certified paper
Climate-Related Risks & Opportunities
Physical Risks
- Impacts on critical IT infrastructure
Transition Risks
- Regulatory changes, market shifts
Opportunities
- Development of energy-efficient products and services
Reporting Standards
Frameworks Used: GRI Standards