Innovate Finance Sustainability Profile
Innovate Finance, a leading fintech membership organisation based in Great Britain, was founded in 2014 to support the UK’s financial technology sector. With its headquarters in London, the organisation plays a pivotal role in fostering innovation across the financial services industry, connecting startups, scale-ups, and established financial institutions. Specialising in advocacy, networking, and knowledge-sharing, Innovate Finance offers unique insights and resources that empower its members to thrive in a competitive landscape. The organisation has achieved significant milestones, including the establishment of the UK FinTech Strategy and hosting the annual Innovate Finance Global Summit, which highlights its commitment to driving growth and collaboration within the fintech ecosystem. Recognised as a key player in the industry, Innovate Finance continues to shape the future of finance through its dedication to innovation and excellence.
DitchCarbon Score
How does Innovate Finance's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Innovate Finance's score of 31 is higher than 50% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Innovate Finance's reported carbon emissions
In 2021, Innovate Finance reported total carbon emissions of approximately 173,982 kg CO2e. This figure includes 779 kg CO2e from Scope 2 emissions, primarily from purchased electricity, and 171,203 kg CO2e from Scope 3 emissions, which encompass business travel (1,669 kg CO2e), employee commuting (2,822 kg CO2e), and purchased goods and services (168,712 kg CO2e). Notably, Scope 1 emissions were recorded at zero, indicating no direct emissions from mobile or stationary combustion. Comparatively, emissions in 2020 were about 198,644 kg CO2e, with Scope 2 emissions at 894 kg CO2e and Scope 3 emissions at 197,750 kg CO2e. In 2019, total emissions peaked at approximately 466,392 kg CO2e, with Scope 2 emissions of 1,114 kg CO2e and Scope 3 emissions significantly higher at 465,278 kg CO2e. Despite these figures, Innovate Finance has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or commitments to the Science Based Targets initiative (SBTi). The organisation's emissions data is not cascaded from any parent company, reflecting its independent reporting status. Overall, Innovate Finance's emissions profile highlights a significant reduction from 2019 to 2021, but the lack of formal climate commitments suggests an opportunity for further engagement in sustainability initiatives.
How Carbon Intensive is Innovate Finance's Industry?
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Innovate Finance's Scope 3 Categories Breakdown
Innovate Finance's Scope 3 emissions, which decreased by 12% last year and decreased by approximately 63% since 2018, demonstrating supply chain emissions tracking. Their carbon footprint includes supplier sustainability and value chain emissions data across Scope 3 categories, with "Purchased Goods and Services" being the largest emissions source at 97% of Scope 3 emissions.
Top Scope 3 Categories
Innovate Finance's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Innovate Finance has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
