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 significant carbon emissions totalling approximately 8,566,420 kg CO2e globally. This figure includes 248,050 kg CO2e from Scope 2 emissions, primarily related to energy consumption, and a substantial 8,318,380 kg CO2e from Scope 3 emissions, which encompass indirect emissions throughout the value chain. Notably, OFX did not disclose any Scope 1 emissions data. The company's emissions profile highlights a strong reliance on indirect emissions, particularly in Scope 3, which indicates a need for targeted strategies to address these areas. However, OFX has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. As part of its commitment to sustainability, OFX is expected to align with industry standards and best practices, although no specific initiatives or targets have been reported. The lack of cascaded data from a parent organisation suggests that OFX is independently managing its emissions reporting and climate commitments.
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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.
