TONIK Financial Pte Ltd Sustainability Profile
TONIK Financial Pte Ltd, a leading fintech company headquartered in Singapore (SG), has been at the forefront of digital banking since its inception in 2018. Specialising in innovative financial solutions, TONIK focuses on providing seamless banking experiences through its core products, including digital savings accounts and personal loans, which are designed to meet the evolving needs of modern consumers. With a commitment to leveraging technology for enhanced customer service, TONIK has quickly established itself as a key player in the Southeast Asian financial landscape. The company’s unique approach to banking, characterised by user-friendly interfaces and competitive interest rates, has garnered significant attention and a growing customer base. As a pioneer in the digital banking sector, TONIK Financial continues to set benchmarks for excellence and innovation in the industry.
DitchCarbon Score
How does TONIK Financial Pte Ltd'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 Computer Services 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
TONIK Financial Pte Ltd's score of 26 is lower than 57% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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TONIK Financial Pte Ltd's reported carbon emissions
In 2021, TONIK Financial Pte Ltd reported total carbon emissions of approximately 113,410,000 kg CO2e for Scope 1, 141,921,000 kg CO2e for Scope 2, and 831,000 kg CO2e for Scope 3, specifically from business travel. The combined total for Scope 1 and Scope 2 emissions was about 153,000 kg CO2e. Comparatively, in 2020, the company recorded emissions of around 14,053,000 kg CO2e for Scope 1, 155,184,000 kg CO2e for Scope 2, and 1,375,000 kg CO2e for Scope 3. The total for Scope 1 and Scope 2 in that year was approximately 169,000 kg CO2e. Despite these figures, TONIK Financial Pte Ltd has not established specific reduction targets or climate pledges, nor does it inherit emissions data from a parent company. The organisation is currently not part of any recognised climate initiatives such as SBTi or CDP. Overall, while TONIK Financial Pte Ltd has disclosed its emissions data, it appears to lack formal commitments to reduce its carbon footprint in the immediate future.
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| 2020 | 2021 | |
|---|---|---|
| Scope 1 | 14,053,000 | 00,000,000 |
| Scope 2 | 155,184,000 | 000,000,000 |
| Scope 3 | 1,375,000 | 000,000 |
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TONIK Financial Pte Ltd's Scope 3 Categories Breakdown
TONIK Financial Pte Ltd's Scope 3 emissions, which decreased by 40% last year and decreased by approximately 40% since 2020, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 1% of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
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TONIK Financial Pte Ltd'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.
TONIK Financial Pte Ltd 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.
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