ID Finance has received the COMPENSO badge of the Spanish Ministry of Environment which officially recognizes the company’s neutrality in carbon. ID Finance has achieved this milestone thanks to its efforts to compensate it’s carbon footprint both locally as internationally. It has actually become the first Fintech included in Spanish Compensation Register.
This badge of the Carbon Print, Compensation and CO2 Absorption Projects Register of Spanish Environment Ministry fulfils a double functionality. On the one hand it allows organizations to prove they are officially registered. On the other it reflects the effort deployed to fight climate change. In the particular case of ID Finance it consists in fully compensating its footprint.
Measuring the carbon footprint
This is the culmination of a process starting in 2019, as part of ID Finance commitment to environmental preservation. That year the company started to measure the impact of its daily activities in the countries it operates. With the support of ECOTERRAE, an external auditor specialized in sustainability and climate change, it carried out a comprehensive analysis. Aimed at measuring ID Finance carbon footprint, ISO 14064-1:2019 method was applied. This ISO-norm is actually the Spanish adaptation of an international directive which establishes the protocol of the calculation process and the results of the emissions inventory.
The resulting report states that ID Finance has achieved to completely eliminate emissions originated by gas leaks in refrigeration processes. In addition, it points out that 49% of emissions were generated by employee trips using different means of transport such as plane, train or car. Most part of the rest of emissions were caused by electricity consumption.
Compensation
ID Finance participates in three different environmental projects -two of them in Spain and one in Mexico- aimed at compensating its carbon footprint.
