Moneybox has officially been a carbon-neutral company and signatory of the UN Climate Neutral Now Initiative for five years now. As part of that commitment, we work closely with sustainability experts Alectro each year to conduct an in-depth analysis of our carbon footprint and offset our emissions.

Six years on, we’re thrilled to see some real, tangible progress in our aim to positively impact the world around us through our environmental, social and governance (ESG) practices.

The 2024 highlights

In our latest report for emissions in the year of 2024, we found that:

  • Our overall emissions have begun to plateau, despite the team continuing to grow
  • Our individual emissions are at a record low
  • We’re on track to reach our net zero targets

We’ve moved up from grade B to grade A on Alectro’s Climate Clarity score system

 

At a glance

 

Let’s deep dive…

 

The process

Moneybox partnered with independent firm Alectro to conduct a thorough analysis of its entire operational footprint.* This involved evaluating aspects such as company-organized events, physical office locations, remote work setups for our team, our personnel, and our network of suppliers. This comprehensive review allowed us to accurately map our carbon footprint and maintain our carbon-neutral status. We ensured every offset met the toughest criteria** to have the largest impact possible.

 

 

Emissions breakdown

Our emissions are categorised into three main areas – operations, facilities and transport – and further segmented into sub-categories, such as purchased goods and employee commuting.

We’re thrilled to see that after six years of offsetting our emissions, our employee emissions are at their lowest yet.

 

The road to net zero

Moneybox is committed to achieving net zero emissions by 2050. We’re aiming to reduce Scope 1 and 2 emissions by 100% and our Scope 3 emissions by 42% by 2030. It’s encouraging to see that we’re currently on track to achieving that goal!

To continue on the right path to meeting our targets we’ll:

  • Work with our facilities team to minimise the use of fossil fuel for heating
  • Ensure we are supplied by low-carbon electricity sources
  • Encourage and support our employees as they transition to low-carbon modes of transport
  • Purchase from suppliers who have strong net-zero commitments that match our ambition
  • Select suppliers that align with our net-zero strategy

 

Offsetting our 2024 emissions

To offset our total company carbon footprint and remain a carbon neutral company, we have supported two Gold Standard projects that sit within the United Nations Sustainable Development Goals (SDGs).

We took it to a vote to decide which projects to support. Out of a possible 17, the goals the team felt were most important were:

  • Affordable and clean energy
  • Decent work and economic growth
  • Climate action

To offset our carbon output, we’re supporting two projects that best target these SDGs.

Bhesada Wind Power Project in Rajasthan

This project harnesses the power of wind to generate clean electricity, which is then supplied to the Indian National Grid. By replacing electricity generated from fossil fuels, the Bhesada Wind Power Project prevents approximately 189,075 tonnes of carbon dioxide equivalent from entering the atmosphere each year. That’s equivalent to 10 return trips from London to Los Angeles!

300 MW Solar PV Plant at Bhadla, Rajasthan

We’re also supporting a 300 MW solar power project in Bhadla, Rajasthan. This initiative prevents around 492,382 tonnes of CO2e from entering the atmosphere each year by generating a whopping 525,600 MWh of clean electricity using solar power. That’s more than six times London’s total emissions from households, government, and capital investments.

 

Ready to read more about our carbon neutral journey? Check out our reports for reporting years 2019-2023.

 

*The project with Alectro was undertaken in the period between January 2025 – April 2025, based on qualitative and quantitative data gathered from the period between 1st January 2024 – 31st December 2024.

**Emission profiles:

Organisational boundaries: We will use the operational control approach to establish the organisational boundary of Moneybox’s carbon reporting. As defined by the GHG (Greenhouse Gas) Protocol, this will include Operations where you have the full authority to introduce and implement operating policies. Under this approach, 100% of GHG emissions from all owned and leased facilities over which the Moneybox has direct operational control are included.

Operational boundaries: All GHG emissions associated with the organisational boundary are included and categorised as Scope 1 (direct), Scope 2 (required indirect), and Scope 3 (optional indirect) emissions.

For more information about the United Nations Framework Convention on Climate Change (UNFCCC) initiative, Climate Neutral Now, visit: ClimateNeutralNow.org