Orchard Funding Group plc
Climate Impact & Sustainability Data (2021, 2024)
Reporting Period: 2021
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental
- Social
- Governance
Social Achievements
- Provided health club membership and childcare vouchers for staff.
- Maintained operations with most staff working from home during the pandemic with no impact on customers or partners.
Governance Achievements
- Refinanced borrowings with Toyota Financial Services PLC and National Westminster Bank PLC, replacing Barclays Bank PLC and Conister Bank facilities.
Climate Goals & Targets
Environmental Challenges
- Reduced lending volumes due to the impact of COVID-19 restrictions and increased competition.
- Reduced profitability due to the impact of COVID-19.
Mitigation Strategies
- Cost management strategies.
- Expansion into new lending markets (asset finance, hire purchase).
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Review of supplier backgrounds; avoidance of suppliers breaching human rights standards.
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SECR
Third-party Assurance: Not disclosed
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced carbon footprint due to employees working from home at least three days a week
Social Achievements
- Provides health club membership and childcare vouchers for staff
- Provides equal opportunities for all applicants and staff
Governance Achievements
- Thorough investigation of fraud resulted in additional internal controls
Climate Goals & Targets
Environmental Challenges
- Withdrawal of GAP products by insurance companies
- External fraud
- Largest introducer entering administration
- Higher base rates impacting cost of funds
- Erosion of net income due to competition
- Burdensome regulatory framework and increasing compliance costs
Mitigation Strategies
- Careful management of operational costs
- Development of lending platform Lend XP and open banking platform
- Thorough review of lending book and introducer network
- Review of systems and controls to minimize fraud risk
- Careful management of operational costs
- Regular monitoring of introducing partners
- Review of documentation by legal team to ensure FCA compliance
Supply Chain Management
Responsible Procurement
- Review of supplier background to ensure compliance with high standards regarding human rights