Form3 Sustainability Profile
Form3, officially known as Form3 Financial Cloud, is a leading provider of cloud-based payment technology headquartered in Great Britain. Founded in 2016, the company has rapidly established itself in the fintech industry, focusing on delivering innovative payment solutions to banks and financial institutions across Europe and beyond. Specialising in real-time payment processing, Form3 offers a unique platform that simplifies the complexities of payment infrastructure. Their core services include Payment as a Service (PaaS), which enables clients to seamlessly integrate and manage various payment types, enhancing operational efficiency and customer experience. With a strong market position, Form3 has achieved significant milestones, including partnerships with major financial institutions and recognition for its cutting-edge technology. The company continues to drive transformation in the payments landscape, making it a key player in the evolving fintech sector.
DitchCarbon Score
How does Form3'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 Services Auxiliary to 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
Form3's score of 30 is lower than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Form3's reported carbon emissions
In 2022, Form3 reported total carbon emissions of approximately 62540 kg CO2e for Scope 1, 143910 kg CO2e for Scope 2, and 543370 kg CO2e for Scope 3 emissions. The Scope 1 emissions included about 43430 kg CO2e from fugitive emissions and 10750 kg CO2e from stationary combustion. For Scope 2, the emissions were primarily from purchased electricity, totalling around 112290 kg CO2e. The significant contribution to Scope 3 emissions came from employee commuting, which accounted for approximately 361000 kg CO2e. In 2021, Form3's emissions data for the UK indicated Scope 1 emissions of about 54180 kg CO2e, with the same breakdown as in 2022, and Scope 2 emissions of approximately 112290 kg CO2e. Notably, no Scope 3 emissions data was disclosed for that year. Despite the detailed emissions reporting, Form3 has not set specific reduction targets or initiatives, as indicated by the absence of documented reduction targets or climate pledges. The emissions data is cascaded from Form3 Technology Limited, reflecting the company's commitment to transparency in its environmental impact.
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| 2022 | |
|---|---|
| Scope 1 | 62,540 |
| Scope 2 | 143,910 |
| Scope 3 | 543,370 |
How Carbon Intensive is Form3's Industry?
How Carbon Intensive is Form3's Location?
Form3's Scope 3 Categories Breakdown
Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 72% of total emissions under the GHG Protocol, with "Employee Commuting" being the largest emissions source at 66% of Scope 3 emissions.
Top Scope 3 Categories
Form3'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.
Form3 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.
