Commitment to achieving Net Zero

Salary Finance Limited is committed to achieving Net Zero emissions by 2050. This plan covers the UK operations of Salary Finance Limited. Our teams in India and South Africa are engaged through a third-party provider and fall outside the scope of this plan.

Baseline Emissions Footprint

Baseline emissions are a record of the greenhouse gases that have been produced in the past and were produced prior to the introduction of any strategies to reduce emissions. Baseline emissions are the reference point against which emissions reduction can be measured.

Baseline Year: 2021 (1 January 2021 to 31 December 2021)

Additional details relating to the Baseline Emissions calculations:

Salary Finance’s baseline was measured and independently certified through the Planet Mark Business Certification for the calendar year 2021, covering natural gas, purchased electricity, electricity transmission and distribution losses, business travel, waste, water and paper for our office premises. Employee commuting and home-working energy were not included in this baseline measurement. The 2021 Scope 1 figure of 0.2 tCO2e reflects natural gas previously used at our office at Scale Space. Scale Space has since confirmed there is no longer a natural gas supply on site, which is why Scope 1 is nil in 2025.

Baseline year emissions:

Scope 1 covers fuel we burn directly, such as gas heating. Scope 2 covers the electricity we buy. Scope 3 covers indirect emissions from our activities, such as staff commuting, business travel and waste.

Current Emissions Reporting

Reporting Year: 2025 (1 January 2025 to 31 December 2025)

No emissions footprint was calculated for 2022 to 2024. This 2025 report is the first update since the 2021 baseline, and we will now review and republish this plan annually. 

This update reports current-year figures on a different, more complete basis than the 2021 baseline, and the changes are set out here rather than left unexplained:

• Scope 1 (fuel we burn directly) is reported as nil. Salary Finance has no direct fuel combustion under its own operational control, and Scale Space has confirmed there is no natural gas supply on site. Office electricity is reported under Scope 2.
• Scope 2 (electricity) is based on actual metered consumption of 24,313 kWh for the full 2025 calendar year, provided directly by our landlord, Scale Space, from the two meters serving our space (DB ONC 1PE and DB ONC 1L E). Applying the UK Government's 2025 greenhouse gas reporting conversion factor for grid electricity (0.177 kgCO2e/kWh), this gives a location-based Scope 2 figure of 4.3 tCO2e. Our electricity is supplied by Bryt Energy on a 100% renewable basis, backed by Renewable Energy Guarantees of Origin (REGOs), Ofgem's certification scheme for renewable electricity (https://www.ofgem.gov.uk/environmental-and-social-schemes/renewable-energy-guarantees-origin-rego). A market-based Scope 2 figure of at or close to zero is therefore reported alongside the location-based figure, in line with the Greenhouse Gas (GHG) Protocol (https://ghgprotocol.org/corporate-standard).
• Employee commuting (Scope 3, Category 7) has been calculated for the first time this year, using actual headcount and office attendance data, and is set out in detail below.
• Waste (Scope 3, Category 5) is estimated using a recognised UK office waste benchmark of approximately 150 kg per employee per year, applied to our 100 office-based staff, giving an estimated 15 tonnes of waste per year. Applying our landlord Scale Space's confirmed zero-waste-to-landfill disposal route (75% recycled, 25% energy recovery) and standard disposal-route emission factors, this gives an estimated 1.0 tCO2e/year. This will be reviewed and refined if actual waste data becomes available from Scale Space.
• Business travel (Scope 3, Category 6) is calculated from 2025 booking records for flights taken by UK staff: 28 return trips and 2 one-way flights, mainly to South Africa and India, all in economy class. Using great-circle distances with the UK Government's standard 8% uplift and the 2025 conversion factors for air travel (including radiative forcing), this gives 57.4 tCO2e. Flights taken within India by our India-based team are outside the scope of this plan. Daily commuting is reported separately under employee commuting.
• Transport of goods to or from us (Scope 3, Categories 4 and 9, upstream and downstream transportation and distribution) is not applicable. We do not buy, make or ship physical products; our services are delivered entirely digitally.

Current year emissions (2025):

Scope 3 – Employee commuting detail (Scope 3, Category 7): based on 127 UK staff, of whom 100 are office-based (12 attending 4 days a week, 88 attending 3 days a week on average) and 27 are fully remote with no office commute. Using an assumed 46 working weeks a year, an average one-way commuting distance of 9.1 miles (the published average for London workers, GLA/ONS-derived), and an assumed travel mode split of 80% rail/Underground/Overground and 20% bus (confirmed as virtually all public transport, negligible car use), this gives approximately 18.5 tCO2e/year. The 80/20 modal split is an estimate and will be refined if better data becomes available.

Figures marked as estimates above will be replaced with measured data as it becomes available and updated in the next annual refresh of this plan.

Emissions reduction targets

Salary Finance commits to achieving Net Zero emissions by 2050, in line with the UK Government's own target. In order to continue our progress to achieving Net Zero, we have adopted the following carbon reduction target. We project that carbon emissions will decrease over the next five years to 73.1 tCO2e by 2030. This is a reduction of 10% against our 2025 baseline of 81.2 tCO2e (location-based). Given that Scope 1 is reported as nil and Scope 2 is already at or near zero on a market-based basis, this reduction will primarily be delivered by reviewing the need for overseas business travel, sustaining hybrid-working patterns that limit commuting emissions, and ongoing waste reduction initiatives. Progress will be reviewed and reported annually as part of this plan. 

Carbon Reduction Projects

Completed Carbon Reduction Initiatives

The following environmental management measures and projects have been completed or implemented, and the measures will be in effect when performing the contract. Our 2025 reporting boundary is wider than the 2021 baseline, because it now includes employee commuting and business travel, so the two years are not directly comparable and a like-for-like reduction since the baseline cannot be stated.

• Renewable electricity: our office electricity is supplied by Bryt Energy on a 100% renewable, REGO-backed basis.
• Shared, managed workspace: our office is at Scale Space, White City. Scale Space is ISO 14001 certified for environmental management, operates a zero-waste-to-landfill policy (75% recycled, 25% sent for energy recovery), and has reduced its own carbon footprint by 49% over the past four years. 
• Cloud-hosted infrastructure: our platform is hosted on Amazon Web Services, which operates under The Climate Pledge with a commitment to reach net-zero carbon by 2040, rather than on on-premises servers.
• Digital service delivery: our financial wellbeing services are delivered digitally, with no physical products or printed materials required, keeping the emissions associated with delivering services to our customers low.
• Hybrid working: the majority of our workforce works a hybrid pattern (2-4 office days a week) and commutes predominantly by public transport, with negligible car use, keeping commuting emissions low relative to headcount.

Future Carbon Reduction Initiatives

In the future we hope to implement further measures such as:

• Replacing the remaining estimated figures in this plan (waste, and the commuting modal split assumption) with directly measured data as it becomes available;
• Engaging our key suppliers, including our workspace on their emissions data and reduction plans.

Declaration and Sign Off

This Carbon Reduction Plan has been completed in accordance with PPN 006 and associated guidance and reporting standard for Carbon Reduction Plans.

Emissions have been reported and recorded in accordance with the published reporting standard for Carbon Reduction Plans and the GHG Reporting Protocol corporate standard and uses the appropriate Government emission conversion factors for greenhouse gas company reporting.

Scope 1 and Scope 2 emissions have been reported in accordance with SECR requirements, and the required subset of Scope 3 emissions have been reported in accordance with the published reporting standard for Carbon Reduction Plans and the Corporate Value Chain (Scope 3) Standard.

This Carbon Reduction Plan has been reviewed and signed off by the board of directors (or equivalent management body).