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Revolut
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== Environmental, social, and governance <sup>[1]</sup> == Revolut has shown commitment to addressing the global climate crisis and promoting sustainability through their Tech Zero initiative. Their focus on Environmental, Social, and Governance (ESG) factors highlights their dedication to creating a positive impact on the world while promoting accountability, transparency, and progress. '''Environmental Initiatives:''' Carbon Footprint Measurement and Reduction: Revolut is actively monitoring and reducing their carbon footprint. Partnering with Watershed, they measure emissions in real-time, following industry standards like the Greenhouse Gas Protocol. In 2021, the net corporate emissions were 16,833 metric tons of CO2e, a reduction of 8.61% from 2020. Emissions Breakdown and Reduction Strategies: They are transparent about emissions sources, dividing them into categories such as Goods & Services, Products, Offices, Employees, and Cloud. Moreover, they are committed to reducing their carbon footprint per Β£1 million revenue. In 2021, their carbon footprint per revenue dropped by over 68% compared to 2020. Renewable Energy and Energy Efficiency: Revolut are driving sustainability through 100% renewable energy usage at the London and Vilnius offices. They have also adopted energy-efficient practices, such as closing one floor of the London headquarters to reduce energy consumption. Sustainable Travel and Transportation: Revolut's sustainable business travel policy has been formulated to effectively mitigate emissions associated with travel, while concurrently encouraging employees based in the UK to actively engage in the Cycle to Work scheme, promoting eco-friendly modes of transportation. '''Social Initiatives:''' Employee Engagement: Revolut places emphasis on empowering its employees to play a pivotal role in advancing sustainability endeavors. This is facilitated through options like remote work or adopting environmentally conscious commuting alternatives. The company has taken dedicated strides to curtail the ecological impact stemming from remote work and daily commutes. Partnerships and Donations: Collaboration is at the heart of Revolut's approach. The company actively aligns with non-governmental organizations (NGOs) and collectives that center their efforts on critical issues such as climate change, sustainability, equitable refugee support, and fundamental rights. Noteworthy is the Revolut Donations platform which has enabled customers to generously contribute over Β£1 million to initiatives dedicated to environmental conservation and climate-conscious causes. Sustainable Business Practices: A cornerstone of Revolut's operations resides in adhering to stringent waste management protocols, specifically addressing electronic waste (e-waste). By practicing responsible waste disposal, efficient recycling procedures, and refurbishment initiatives, the company ensures a conscientious approach to its ecological footprint. Special emphasis is directed towards the efficient management of e-waste to tangibly reduce the technological impact. '''Governance Initiatives:''' Tech Zero Commitment - Revolut proudly stands as a member of the Tech Zero coalition, committing itself to ambitious objectives concerning the measurement and reduction of scope 1-3 emissions. The company has set forth a resolute target of halving its emissions by 2030, with a subsequent overarching aim to achieve carbon neutrality by 2050. Accountability and Reporting: The bedrock of Revolut's operational ethos is the steadfast dedication to transparency and accountability. This is evidently underscored by the annual disclosure of comprehensive reports. These reports offer intricate insights into the company's carbon footprint, strategies for emission reduction, and commendable progress towards the overarching ambition of attaining net zero emissions. The annual presentation of these reports to the Board, alongside their public accessibility on the official Revolut website, attests to the company's unwavering commitment to this endeavor. Executive Responsibility: To ensure the unequivocal prioritization of sustainability objectives within the organizational hierarchy, Revolut has judiciously appointed a distinguished member of its executive team. This designated executive shoulders the responsibility of driving the company's net zero targets, symbolizing the senior leadership's unequivocal dedication to the cause. Overall, Revolut's multifaceted ESG initiatives substantiate its resolute commitment towards effecting tangible and measurable positive impacts across the spheres of environment, society, and governance. The enthusiastic alignment with Tech Zero manifests as a testament to the company's resolute stance in the face of ambitious yet feasible sustainability objectives. The transparent disclosure, meticulous measurement methodologies, and proactive reduction strategies collectively underscore the company's determined efforts in combatting climate change while simultaneously championing judicious business practices. As Revolut continues its evolutionary journey, its unswerving commitment to a sustainable future remains resolute and unwavering.
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