OFX
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 20 is lower than 74% 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 reported total carbon emissions of approximately 8,566,420 kg CO2e. This figure includes 248,040 kg CO2e from Scope 2 emissions, primarily related to electricity usage, and a significant 8,318,380 kg CO2e from Scope 3 emissions, which encompass indirect emissions throughout the value chain. Notably, OFX did not report any Scope 1 emissions for the year. The company's emissions data highlights its substantial reliance on indirect emissions, which represent the majority of its carbon footprint. While specific reduction targets or initiatives were not disclosed, OFX's commitment to addressing climate change is evident through its emissions reporting. The company continues to monitor and disclose its carbon emissions, aligning with industry standards for transparency and accountability in climate action. As OFX operates globally, including in Australia, it is essential for the organisation to enhance its sustainability efforts and consider setting ambitious reduction targets to mitigate its environmental impact.
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| 2023 | 2024 | |
|---|---|---|
| Scope 1 | - | - |
| Scope 2 | 248,040 | 000,000 |
| Scope 3 | 8,318,380 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
OFX is not committed to any reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
