Finastra teams up with EcoTree

Thursday 21 April 2022 10:57 CET | News

UK-based Finastra has teamed up with EcoTree, a forestry company focused on carbon removal and biodiversity preservation through tree planting and sustainable forestry management.

The initiative provides Finastra customers the opportunity to remove the carbon footprint associated with both the running and implementation of technological solutions, an important step as banks and financial institutions move towards net-zero carbon emissions.

Finastra will also use the service to balance its own emissions, supporting its goal to become carbon neutral by 2030.

Customers of Finastra’s solutions opting for this service benefit from a simple green partnership which enables them to be allocated trees from Finastra’s Forest to remove any emissions associated with both the implementation and running of Finastra’s software.

EcoTree’s approach provides a nature-based carbon removal program which, rather than avoiding emissions like many offsetting projects, results in a net carbon reduction through sequestering carbon from the atmosphere.

EcoTree’s methodology for calculating carbon capture and storage (sequestration) is verified by Bureau Veritas. Participating banks receive a certificate that proves a carbon removal contribution.

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Keywords: partnership, banks, ESG, financial institutions, financial services
Categories: Banking & Fintech
Companies: EcoTree, Finastra
Countries: United Kingdom
This article is part of category

Banking & Fintech




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