Tandem, which is building the UK’s greener digital bank, has again taken climate action into its own hands, partnering with Climate Impact Partners (CIP) to offset 100% of its operational emissions for last year – purchasing over 3,300 tonnes of high-quality carbon credits.
Offsetting over 3,300 tonnes of CO₂ is equivalent to taking over 700 cars off the road for a year, preventing about 2,000 London-New York flights or matching the work of 330,000 trees absorbing carbon for a year.
With the UK carbon credits market still finding its feet, Tandem has turned to CIP, recognised globally for delivering trusted, independently verified offsets, to ensure every credit delivers proven impact. Building on last year’s success, this year’s investment continues to fund Rooftop Solar Energy projects in Kenya and Uganda – delivering immediate, high-impact and measurable results.
Tandem is committed to supporting these initiatives as part of a long-term approach to driving measurable environmental and social impact.
In parts of Kenya and Uganda, many homes are still off the grid. Families rely on kerosene lamps, which are expensive, smoky and dangerous. Rooftop solar projects change that almost overnight.
The systems come with three LED lights (one doubles as a torch), a lithium-ion battery and options to charge phones or power a radio. A built-in mobile payment plan makes them affordable even for low-income households, effectively bringing microfinance to clean energy.
The benefits are huge: CO₂ emissions drop as kerosene use falls, indoor air becomes cleaner and safer, and families get reliable power for studying, working and staying connected. Beyond cutting carbon, the project delivers tangible social benefits, empowering communities most affected – and least responsible – for climate change.
Natalie Taylor, Director of Client Solutions at Climate Impact Partners commented: “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.”
Discussing the partnership, James Streeter, Tandem’s Head of Sustainability, said: “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!”
Offsetting alone won’t solve climate change but Tandem believes its footprint should be neutral while the bank works on reducing other emissions at source – core elements of its wider Sustainability strategy.
Tandem has committed to reaching net zero by 2030 for Scope 1 and 2 emissions and by 2050 for Scope 3, following as closely as possible Science Based Targets initiative (SBTi) guidance. In 2024, the bank cut Scope 1 and 2 emissions by over 50% by moving offices and removing natural gas heating.
While emissions from employee commuting and business travel fell during the year, overall Scope 3 operational emissions rose slightly — from 3,153 tonnes CO₂ in FY23 to 3,320 tonnes CO₂ in FY24 — mainly due to increases in purchased goods and services.
Across its UK offices, Tandem is switching to renewable electricity, upgrading appliances, reducing waste and cutting travel. It’s also tackling supply chain emissions head-on, gathering sustainability data from more than 150 suppliers to help target and reduce indirect carbon impacts.
Tandem goes beyond its regulatory reporting requirements too, reporting an annual standalone Sustainability report and instilling full-scope sustainability governance, highlighting the real-world impact and success the bank has had in supporting consumers transitions to a lower carbon lifestyle. The most recent report highlighted that Tandem enabled its customers to avoid over 70,000 tonnes of CO₂ emissions – the equivalent total emissions of Blackpool for an entire month.
