Climate Change Data

Tyro Payments Limited

Climate Impact & Sustainability Data (2017-06-30 to 2019-06-30, 2020-07 to 2021-06, 2023)

Reporting Period: 2017-06-30 to 2019-06-30

Environmental Metrics

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

  • Best Payment Services Bank, Australian Business Banking Awards 2018
  • Gold Sydney Design Awards – Identity and Branding – Tech 2019
  • FinTech Innovation in Lending, FinTech Awards 2017
  • Fast 500 Asia Pacific Deloitte Technology, 2012, 2013, 2014, 2015
  • Fast 50 Australia Deloitte Technology 2012, 2013, 2014
  • BRW Fast 100 Award 2010, 2011, 2012, 2013
  • Highest Authorisation Approval Rate (Acquirer) and Lowest Gross Fraud (Acquirer), Global Award Category, Visa 2018 Global Service Quality Awards (GSQA)
  • Gold FinTech and The Future of Work, Tech Design Awards, DRIVENxDESIGN 2017
  • Alipay Acquirer of the Year 2019

Reporting Period: 2020-07 to 2021-06

Environmental Metrics

Total Carbon Emissions:447 MTCO2e
Scope 1 Emissions:Nil MTCO2e per employee
Scope 2 Emissions:0.82 MTCO2e per employee
Scope 3 Emissions:0.04 MTCO2e per employee
Renewable Energy Share:0%
Water Consumption:7.4 KL per employee

ESG Focus Areas

  • Gender balance
  • Employer of choice
  • Employee engagement
  • Customer satisfaction
  • Net Zero emissions

Environmental Achievements

  • Initiated a high-level assessment of carbon footprint covering scopes 1, 2, and 3 emissions.
  • Set environmental targets for 2025 including reductions in Scope 2 and 3 emissions per employee, 100% e-waste recycling, and 100% renewable energy.

Social Achievements

  • Achieved 29% gender representation on the Board and an average of 40% gender representation in Executive, Senior and Other Managers.
  • Introduced LinkedIn Learning for employees, offering access to over 8,000 learning courses.
  • Provided $1.6 million in terminal rental waivers to merchants impacted by COVID-19.
  • Launched Tyro Connect to improve app integration for merchants.
  • Implemented a new distributed work policy for employee flexibility.

Governance Achievements

  • Implemented a risk management framework aligned with the ‘three lines of defence’ model.
  • Rolled out mandatory compliance training for all employees.
  • Self-reported and resolved a breach of the Spam Act.

Climate Goals & Targets

Long-term Goals:
  • Achieve 'Net Zero' accredited status for environmental footprint by 30 June 2025.
Medium-term Goals:
  • Achieve a 25% reduction in Scope 2 emissions per employee from FY21 baseline by 2025.
  • Achieve a 20% reduction in Scope 3 emissions per employee from FY21 baseline by 2025.
  • Achieve 100% renewable energy as a % of total energy by 2025.
Short-term Goals:
  • Achieve a gender balance of 40/40/20 in the workforce by 30 June 2023.
  • Achieve a gender balance of 30% for Directors of each gender by 30 June 2022.
  • Achieve an overall employee engagement score of 80% and above by 30 June 2023.
  • Achieve the highest Net Promoter Score amongst payment providers in Australia by 30 June 2022.

Environmental Challenges

  • Lack of employee engagement, diversity and inclusion.
  • Irresponsible lending practices.
  • Entry of new technologies.
  • Supply chain management.
  • Impact of increasing energy and water costs.
  • Exposure to extreme weather events.
  • Breach of consumer privacy and data security.
  • Selling practices and product description.
  • Risk management and compliance.
  • Increased competitive behaviour.
  • Business ethics.
Mitigation Strategies
  • Implemented a sustainability framework focusing on social, environmental, and ethical governance.
  • Conducted a sustainability risk assessment to identify and address material issues.
  • Developed processes to support merchants experiencing financial hardship.
  • Enhanced policies and procedures to address modern slavery risks.
  • Implemented a failover solution to mitigate terminal connectivity issues.
  • Strengthened data security controls and processes.
  • Developed and enhanced policies and procedures to begin to address the risk of modern slavery in its operations and supply chain.

Supply Chain Management

Responsible Procurement
  • Evaluation of supplier sustainability and compliance with relevant legislation, including modern slavery legislation.
  • Compulsory emissions reporting process for material suppliers.

Climate-Related Risks & Opportunities

Physical Risks
  • Exposure to extreme weather events
Opportunities
  • Sustainable lending to merchants for energy-efficient equipment purchases.

Reporting Standards

Frameworks Used: Internationally recognised sustainability standards

Sustainable Products & Innovation

  • Tyro Connect
  • Tyro eCommerce product
  • Tyro Dongle

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:4927 tCO2e
Scope 2 Emissions:439 tCO2e
Scope 3 Emissions:4488 tCO2e
Renewable Energy Share:6.5%

ESG Focus Areas

  • Environmental
  • Social
  • Governance

Environmental Achievements

  • Achieved Carbon Neutral certification with Climate Active.

Social Achievements

  • 87% of employees believe Tyro is a diverse and inclusive workplace.
  • 67% female board representation with a female Chair.
  • 100% employee flexible working model.
  • Over $144,000 raised through ‘round up’ donations.

Governance Achievements

  • High risk culture score (85%) in employee survey.
  • 100% compliance with Modern Slavery legislation.
  • Nil material data and privacy breaches.

Climate Goals & Targets

Long-term Goals:
  • Develop revised environmental targets for 2030, including Scope 1, 2, and 3 emissions and renewable energy share.
Medium-term Goals:
  • Achieve 80% or higher employee engagement score.
Short-term Goals:
  • Improve "I am proud to work for Tyro" score in employee survey by 10%.

Environmental Challenges

  • Lower than target gender balance in workforce and executive leadership.
  • Lower than target employee engagement score.
  • Decreased Net Promoter Score (NPS).
  • Increased carbon emissions compared to FY22 (attributed to employee return to office, executive travel, and merchant growth).
Mitigation Strategies
  • Initiatives in flight including Emerging Female Leaders Program, Women of Tyro network, and improved recruitment and retention strategies.
  • Executive Leadership Team (XLT) driving people engagement with action plans.
  • Voice of the Customer program to improve NPS.
  • Review of environmental targets for 2030 with plans to achieve real reductions in carbon emissions.

Supply Chain Management

Responsible Procurement
  • Assessment of modern slavery risks in supplier practices.

Climate-Related Risks & Opportunities

Physical Risks
  • Exposure to extreme weather events
Transition Risks
  • Impact of increasing energy costs

Reporting Standards

Frameworks Used: Integrated reporting frameworks, Intention to comply with ISSB Sustainability Reporting Standards – IFRS S1 and S2

Certifications: Climate Active Carbon Neutral Standard for Organisation

Sustainable Products & Innovation

  • Tyro Go portable card reader
  • Tyro BYO App (Tap to Pay on iPhone)
  • Tyro Pro android-based terminal