As featured in
Our impact in numbers
£290,000,000+
Evaluated
25,000 tCO2e
Identified reductions
3,000+
Users of the service
The Client
GoCardless, a UK-based online payment platform, processes over $30 billion per year through their banks on behalf of their customers. Such high volumes of transactions means GoCardless holds a significant amount of cash in bank accounts when transferring their customers’ money from point A to point B. This cash, based on how those banks invest, has a carbon footprint.
GoCardless partnered with MotherTree, experts in financed emissions, to assess the carbon footprint from their cash and develop strategies to reduce it.
The Problem
The carbon footprint generated by a company’s investments, pensions and cash held in big banks is a significant – and sometimes its largest – source of emissions.
Getting to true Net Zero requires companies to consider these emissions.
While the impact of cash in the bank, pensions and investments will come under increased scrutiny through 2024.
MotherTree’s analysis of the hidden impact of finances makes it possible to understand the scale of emissions from a company’s cash, investments, and financial practices for the first time.
The Solution
MotherTree took time to understand the unique situation at GoCardless, including the values and business requirements for their financial providers.
Next, MotherTree used its proprietary databases to evaluate these banks and compare them to market leaders in each geography where GoCardless operates. MotherTree’s databases draw from a broad range of sources and are backed by Mike Berners-Lee’s Small World Consulting. MotherTree then created a detailed report that included:
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GoCardless' overall emissions from its finances
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Which banks currently used by GoCardless performed best and worst from an environmental perspective
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The opportunity available (lower emissions) by switching and how each of the providers perform against GoCardless’ requirements
Craig, one of our founders, then discussed these options on a call with key decision-makers, to support them in identifying the right next steps.
The analysis shows the significant role financed emissions have in the overall carbon footprint of a leading fintech.
MotherTree is developing an approach with GoCardless to decarbonise its finances while delivering on the business requirements and risk levels. This approach includes working with existing banking providers to reduce their investments in high-carbon activities, and switching to banks with no investments in fossil fuels, whilst continuing to prioritise high security of funds and other functionality required for GoCardless’ operations.
Does this sound familiar?
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You want to make a change but don’t know where to start
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The money in your business bank is only making a small amount of interest
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You care about the environment but don’t know how your business can make a bigger impact
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You’re a values-led business and want to put your money where your mouth is
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You are worried about switching banks and other bills for fear of the hassle and security
You are not alone
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We have worked with businesses of all shapes & sizes - from startups to large fintechs - to help them maximise their returns, minimise their negative impact, and make the switch quickly & easily.
About us
We're Dan and Craig and our mission at MotherTree is to make it effortless for businesses to choose greener options with their money.
As individuals, we were shocked when we took a close look at how our pension providers and banks were investing our money. Fortunately, we found that switching to align our investments to our personal values had far more impact than we thought.
Craig Wallington
COO and Founder
Craig is a qualified accountant with 7+ years at Bain & Company advising clients on strategy, performance improvement and sustainability.
Dan Sherrard-Smith
CEO and Founder
Dan was on the founding team at Look After My Bills - best ever deal on Dragons’ Den, 0 to 800,000 customers within 3 years.
What we cover
Backed by experts
Mike Berners-Lee
Mike Berners-Lee is a leading expert in carbon footprinting. He is the director and principal consultant at Small World Consulting and author of several best selling books including How Bad are Bananas? The Carbon Footprint of Everything.
Endorsements
Lizzie Rivera
Founder and Chief Purpose Officer at Live Frankly
"To understand if a company is serious about its commitment to sustainability, a good place to start is if it’s putting its money where its values are. Where a business banks is a crucial decision – this report clearly shows how it’s one of the biggest carbon choices it can make. So, before you read that long glossy ‘impact’ report, quickly check who a business banks with to get a sense of how seriously they’re taking sustainability. Follow the money: it couldn’t be more simple or more important."