Tandem has offset 100% of its operational emissions for FY24 by purchasing over 3,300 tonnes of verified carbon credits from Climate Impact Partners (CIP).
The move supports rooftop solar energy projects in Kenya and Uganda, reflecting Tandem’s goal of making green energy affordable and accessible while advancing its own net zero ambitions.
The credits equate to taking more than 700 cars off the road for a year or preventing around 2,000 London to New York flights.
Building on last year’s initiative, Tandem’s investment continues to fund high-impact solar projects that deliver immediate environmental and social benefits.
In Kenya and Uganda, where many homes remain off-grid, rooftop solar systems provide clean, reliable electricity, replacing kerosene lamps and improving air quality.
The projects also introduce affordable mobile payment plans, enabling low-income families to access renewable energy while cutting carbon emissions.
Tandem aims to reach net zero by 2030 for Scope 1 and 2 emissions and by 2050 for Scope 3, in line with Science Based Targets initiative (SBTi) guidance.
The bank reduced Scope 1 and 2 emissions by more than 50% last year through office relocations and phasing out natural gas heating.
As part of its wider strategy, Tandem continues to switch to renewable electricity, cut waste, and engage suppliers on sustainability performance.
Its most recent Sustainability Report showed that customers using its green finance products helped avoid more than 70,000 tonnes of CO₂ – equivalent to the total monthly emissions of Blackpool.
Natalie Taylor, director of client solutions at Climate Impact Partners, said: “Tandem is demonstrating what credible climate action looks like by taking responsibility now and supporting projects that deliver immediate high impact and measurable results.
“The rooftop solar initiative in East Africa not only cuts carbon emissions but also transforms lives by providing clean affordable energy to communities who need it most.”
James Streeter, head of sustainability at Tandem, added: “CIP deliver the gold standard in carbon credits, so it’s great to again partner with them – we know that it will have a real, tangible and measurable impact. But this is just one pillar of our Sustainability strategy.
“We rolled out our new Sustainability framework last year, reporting enhanced disclosures on all Scope 1, 2 and 3 emissions.
“We’re continuing to work on it and reduce emissions across the board.”
