Finastra has partnered with EcoTree, a sustainable forestry organization, to help banks offset the carbon emissions related to the deployment and operation of its technology solutions.
Through this initiative, EcoTree will establish and nurture trees within biodiverse and sustainable forests throughout Europe, aimed at mitigating the emissions tied to Finastra’s software. This collaborative effort aligns with Finastra’s aspiration to achieve carbon neutrality by 2030.
Thomas Canguilhem, International CEO at EcoTree, stated, “This initiative will diminish the environmental impact of essential technology solutions. Unlike conventional offsetting programs, our focus is on genuinely removing carbon from the atmosphere for the long term.”
EcoTree’s approach to measuring carbon capture and storage is certified by Bureau Veritas, ensuring participating banks receive a certificate that validates their contribution to carbon removal.
Jay Mukhey, senior director of ESG at Finastra, remarked, “Our collaboration with EcoTree enables our customers to fully offset their supply chain carbon emissions, also known as ‘Scope 3’ emissions, associated with Finastra. With our extensive global clientele, this initiative represents a significant advancement in eliminating the digital carbon footprint for both our customers and our organization as we advance toward our carbon neutrality target by 2030.”