Climate Change Data

Revolut Group Holdings Ltd

Climate Impact & Sustainability Data (2021, 2023)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:144.4 tCO₂e (UK and offshore); 337.9 tCO₂e (global)
Scope 1 Emissions:0 tCO₂e
Scope 2 Emissions:144.4 tCO₂e (UK and offshore); 337.9 tCO₂e (global)
Scope 3 Emissions:0 tCO₂e
Renewable Energy Share:100% at London and Vilnius offices
Total Energy Consumption:679,900 kWh (UK and offshore)
Carbon Intensity:0.23 tCO₂e per £ million of revenue (UK and offshore); 0.76 tCO₂e per £ million of revenue (global)

ESG Focus Areas

  • Employee well-being
  • Diversity and Inclusion
  • Environmental sustainability
  • Fraud prevention
  • Community engagement

Environmental Achievements

  • Energy used at London and Vilnius offices is from 100% renewable sources
  • Clear waste management procedures with sorting and recycling of general waste and strict E-waste management
  • Sustainable business travel policy to reduce and compensate emissions linked to travel
  • All UK employees have access to the Cycle to Work scheme

Social Achievements

  • Introduced two additional paid well-being days for employees
  • Launched a global Partner programme to reward high-performing employees
  • Launched a free payments service for refugees fleeing Ukraine
  • Raised over €10 million for the British Red Cross’s Ukraine Crisis Appeal
  • First work experience programme in partnership with ‘Work in FinTech’

Governance Achievements

  • Established a Revolut Corporate Governance Framework (RCGF)
  • Strengthened the Board with the appointment of John Sievwright
  • Introduced Revolut’s Group Code of Conduct
  • Invested significantly in protecting customers from fraud through machine learning technologies, in-app warnings and customer education campaigns

Climate Goals & Targets

Environmental Challenges

  • Rapid growth and complexity of the business
  • Maintaining adequate capital and liquidity resources
  • Compliance with regulatory requirements across multiple jurisdictions
  • Managing reputation risk
  • Ensuring sustainable growth
  • Combating fraud
  • Cyber and data security threats
Mitigation Strategies
  • Comprehensive Enterprise Risk Management Framework (ERMF)
  • Investment in risk technology platform and risk identification, assessment and monitoring tools
  • Annual Risk & Compliance Strategic Programme
  • Strengthened talent management and internal culture
  • Enhanced monitoring and acting upon reputation risks
  • Investment in fraud prevention technologies and customer education
  • Technical and organizational controls to reduce cyber and data security risks

Supply Chain Management

Responsible Procurement
  • Thorough due diligence to mitigate risks

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GHG Reporting Protocol (Corporate Standard)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:130.5 tCO2e (UK and Offshore) and 271.2 tCO2e (Global)
Scope 1 Emissions:19.6 tCO2e (UK and Offshore) and 4.4 tCO2e (Global)
Scope 2 Emissions:110.9 tCO2e (UK and Offshore) and 266.8 tCO2e (Global)
Scope 3 Emissions:0 tCO2e (UK and Offshore) and 0 tCO2e (Global)
Renewable Energy Share:100% in London and Vilnius offices
Total Energy Consumption:1,175,653 kWh (UK and Offshore) and 828,930 kWh (Global)
Carbon Intensity:0.07 tCO2e per £ million of revenue (UK and Offshore) and 0.22 tCO2e per £ million of revenue (Global)

ESG Focus Areas

  • Donations
  • Green Businesses
  • Energy Usage and Greenhouse Gas Emissions
  • Diversity, Equity, and Inclusion (DEI)

Environmental Achievements

  • London and Vilnius offices use 100% renewable energy
  • New London office targets net zero carbon emissions

Social Achievements

  • Achieved 'Great Place to Work' certification in eight countries
  • Launched Anytime Feedback mechanism for employee feedback
  • Increased female representation in leadership roles to 21%
  • Improved promotions representation for women from 35% to 44%
  • Customers donated £8.5 million via Revolut in 2023

Governance Achievements

  • Updated Revolut Corporate Governance Framework (RCGF)
  • Strengthened Three Lines of Defence (3LoD) model
  • Enhanced Risk and Compliance Accreditations (RCA) framework

Climate Goals & Targets

Short-term Goals:
  • Increase female representation in leadership to 30% by 2025

Environmental Challenges

  • Fraud and scams
  • Evolving regulatory environment
  • Evolving technologies
  • Climate Risk (emerging)
Mitigation Strategies
  • Robust fraud protection models
  • Machine learning-based fraud detection system
  • Team of 200+ fraud specialists
  • Enhanced security improvements
  • Horizon scanning process
  • Active engagement with regulators
  • Continuous enhancement of security controls
  • Monitoring climate risks
  • Financial planning process to assess materiality of climate risk

Supply Chain Management

Responsible Procurement
  • Rigorous due diligence assessments of third parties
  • Comprehensive employee training on ethical behavior
  • Zero-tolerance policy towards modern slavery

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UK's Streamlined Energy and Carbon Reporting (SECR)

Certifications: SOC2 Type 2 audit report

Third-party Assurance: BDO LLP

Awards & Recognition

  • 'Great Place to Work' certification
  • Most Popular 'Scale-Up' Graduate Recruiter Award 2023
  • Ranked among Top 15 LinkedIn Companies to Grow Your Career