OFX Sustainability Profile
OFX, formerly known as OzForex, is a leading global money transfer service headquartered in Australia. Established in 2012, the company has expanded its operations across key regions, including North America, Europe, and Asia-Pacific, positioning itself as a significant player in the foreign exchange industry. Specialising in international money transfers, OFX offers competitive exchange rates and low fees, making it a preferred choice for individuals and businesses alike. Its unique platform provides users with a seamless experience, enabling them to send money across borders efficiently and securely. With a strong market presence and a commitment to customer satisfaction, OFX has achieved notable milestones, including a substantial increase in transaction volumes and a growing customer base. The company continues to innovate, ensuring it remains at the forefront of the evolving financial landscape.
DitchCarbon Score
How does OFX'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
OFX's score of 17 is lower than 89% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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OFX's reported carbon emissions
In 2023, OFX, headquartered in Australia, reported total carbon emissions of approximately 8,566,420 kg CO2e. This figure includes 248,050 kg CO2e from Scope 2 emissions and a significant 8,318,380 kg CO2e from Scope 3 emissions, indicating a heavy reliance on indirect emissions sources. Notably, there is no reported data for Scope 1 emissions. OFX has not set specific reduction targets or initiatives as part of its climate commitments, nor does it appear to have cascaded any targets from a parent organisation. The absence of documented reduction strategies suggests that the company is currently focusing on understanding and managing its emissions profile without formalised commitments to reduction. Overall, OFX's emissions data highlights the importance of addressing Scope 3 emissions, which constitute the majority of its carbon footprint, as part of any future climate strategy.
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| 2023 | |
|---|---|
| Scope 1 | - |
| Scope 2 | 248,050 |
| Scope 3 | 8,318,380 |
How Carbon Intensive is OFX's Industry?
How Carbon Intensive is OFX's Location?
OFX'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.
OFX has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
