Fintech: Payhawk And Lune Make It Easier For Companies To Take More Sustainable Decisions Related To Company Spending

September 12, 2023 | ESG and Sustainability, FinTech, News

Companies will also find it easier to comply with climate legislation using Payhawk Green.

Payhawk, a provider of spend management solutions, has introduced “Payhawk Green,” a platform feature set aiding companies in sustainable spending decisions and Scope 3 emissions. Scope 3 emissions include indirect value chain emissions like business travel, transport, fuel, and capital goods. These features ensure compliance with UK and EU sustainability regulations and support internal initiatives such as emission offsetting.

Payhawk has collaborated with Lune to offer emission calculations, enabling Payhawk cardholders to effortlessly measure the carbon dioxide linked to their purchases, all without incurring extra charges. These calculations consider product type, value, and industry methodologies. (Payhawk)

Companies face mounting pressure for carbon footprint transparency. Compliance with UK’s SECR and EU’s CSRD is mandatory. By 2025, companies with 250+ employees and €40m+ turnover must report Scope 1, 2, and 3 emissions, impacting 50,000+ firms.

Scope 3 emissions are often major yet challenging to track. Many organizations use spend management solutions like Payhawk for financial efficiency. With Payhawk Green, users can quantify CO2 from Payhawk card purchases at no cost. The platform collects supplier ESG data, enhancing supply chain transparency and aiding regulatory compliance and emissions offsetting.

Hristo Borisov, Payhawk CEO, said Payhawk Green is a crucial solution for sustainability and Scope 3 emissions management.

Payhawk also advances internal ESG efforts, tracking its carbon footprint since 2021 and implementing an ESG policy.

It intends to gather customer feedback on Payhawk Green and potentially add more features.

Related Story:  ANZ And Grollo Carbon Ventures Test Trading In Tokenized Australian Carbon Credit Units (ACCUs) On The Blockchain

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