Tandem, the UK’s greener digital bank, has reaffirmed its commitment to climate action by partnering with Climate Impact Partners (CIP) to offset 100% of its operational emissions for the last financial year. The bank purchased over 3,300 tonnes of verified carbon credits, equivalent to taking over 700 cars off the road for a year.
The investment builds on last year’s success and continues to fund Rooftop Solar Energy projects in Kenya and Uganda, delivering immediate, high-impact, and measurable environmental and social results. This initiative directly reflects Tandem’s ambition to help make clean energy accessible and affordable.
Credible climate action with microfinance integration
The Rooftop Solar Energy projects directly address the lack of grid access for many homes in parts of Kenya and Uganda. By providing solar systems that include LED lights, a lithium-ion battery, and mobile payment plans, the initiative brings microfinance to clean energy, making the systems affordable even for low-income households.
The benefits of the project extend beyond carbon reduction, delivering tangible social impacts. As kerosene use falls, CO₂ emissions drop, while indoor air quality becomes cleaner and safer. Families gain reliable power for studying, working, and staying connected.
Natalie Taylor, director of client solutions at Climate Impact Partners, praised Tandem’s approach. “Tandem is demonstrating what credible climate action looks like by taking responsibility now and supporting projects that deliver immediate high impact and measurable results,” Taylor commented. She added that the rooftop solar initiative not only cuts carbon emissions but also transforms lives by providing clean affordable energy to communities who need it most.
Offsetting as one pillar in journey to net zero
Tandem stresses that offsetting alone is only one component of its wider Sustainability strategy and its journey to net zero. The bank aims to maintain a neutral operational footprint while working vigorously to reduce emissions at the source.
Tandem has committed to reaching net zero by 2030 for Scope 1 and 2 emissions and by 2050 for Scope 3 emissions, closely following Science Based Targets initiative (SBTi) guidance. In 2024, the bank successfully cut its Scope 1 and 2 emissions by over 50% by moving offices and removing natural gas heating.
While overall Scope 3 operational emissions rose slightly in FY24, mainly due to increases in purchased goods and services , the bank is actively tackling supply chain emissions by gathering sustainability data from over 150 suppliers.
James Streeter, Tandem’s head of sustainability, confirmed the long-term strategic focus. “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,” Streeter explained. He noted the bank is continuing to roll out its Sustainability framework, reporting enhanced disclosures on all Scope 1, 2, and 3 emissions. Tandem’s most recent report also highlighted that the bank enabled its customers to avoid over 70,000 tonnes of CO₂ emissions.
