Joining the climate disclosure bandwagon, Tide claims it has become the first Fintech in the world to remove 100% of emissions.
Tide is a business finance Fintech that has also committed to becoming fully Net Zero by 2030.
Tide has issued three climate pledges:
- Pledge 1: Tide Removal Net Zero – Tide commits to removing 100% of our emissions with durable carbon removal from 2022 onwards.
- Pledge 2: Tide Reduction Net Zero – Tide will reduce 90% of our 2021 emissions per employee by 2030. In doing so, we will reduce emissions by 97% on a revenue basis. Pledges 1 and 2 will make Tide fully Net Zero by 2030.
- Pledge 3: Tide Member Net Zero – Tide commits to making Net Zero simpler for our Members by developing support for them to get to Net Zero.
Tide said that it has achieved its emission-free status by purchasing 3,711 tonnes of durable biochar removal. Tide said these purchases can be viewed on CDR.fyi, an open registry on high-permanence carbon removal. Tide added that it is committed to purchasing durable removals for its global carbon emissions every year going forward.
Ian Sutherland, CFO and Head of Net Zero at Tide, commented that businesses need to take action now on climate change. He said they are taking action to curtail the effects of greenhouse gases on the Earth’s atmosphere.
“While we at Tide may not make much of a difference on our own, by also supporting our growing international network of SME members, we will. We’re proud to be the first fintech in the world to remove 100% of our emissions, and will become a fully Net Zero business by 2030 through a major and ongoing investment in decarbonisation and durable carbon removal. We’re also excited about working with our members to deliver meaningful change. Especially in the UK, where faced with cost-of-doing business challenges and the need for greater energy security, we believe there’s a huge opportunity for smaller companies to transition to renewables and achieve greater energy and resource efficiency.”