Penta Revolutionises the Digital Banking World

Penta is a digital banking app that allows its customers to manage all of their financial activities from a single banking platform - from simple payments to accounting activities to expense and credit management. When Penta was founded, they made it their mission to rethink business banking and make a positive contribution to climate action while empowering founders and companies for a sustainable and successful future.

As part of its own sustainability efforts, the company works with Planetly to gain transparency about its carbon emissions and to identify effective action to reduce them over time.

Industry:
Financial Services
Headquarters:
Berlin, Germany
Employees:
140+
Carbon Footprint:
863 t
949 t
Carbon Offset
3
Offset Projects
2020
Analysis Period
About penta

Background & Objectives

Climate-friendly banking is a key contributor to a sustainable society. Startups comprise a high percentage of Penta’s customers, many opening their first-ever bank account with them. Thus, Penta can play a key role in ensuring that companies use a sustainable banking provider from day one.

At the same time, the company wants to achieve their set climate targets in an efficient and standardised way. To accomplish this, Penta has decided to work with Planetly to help them understand, reduce and offset their CO2 emissions.

“Thanks to Planetly, Penta is operating carbon neutral since 2020. Our customers can rest assured that with Penta they have their CFO of the future: digital and carbon neutral.”

footprint

Penta's Carbon Footprint

To calculate the carbon footprint, we took a closer look at all relevant activities across Penta’s operations. This includes not only direct and energy-related emissions (Scope 1 & 2) but also indirect emissions caused by purchased goods and services and other emissions that occur outside the organisation (Scope 3).

The various types of emissions are calculated in CO2 equivalents (short: CO2e) to make them addable and comparable. Adding up all emissions, Penta had a footprint of 862.97 t CO2e in 2020.

Analysis Results

Penta’s biggest emission drivers are external service providers the company uses, including advertising, consultancy and marketing services they work with, followed by building and employee emissions. Emissions from the online software usage of customers are comparatively low.

863 t
total carbon emissions
680.88 t CO2e
Procurement emissions
109.97 t CO2e
Employee emissions
68.84 t CO2e
Employee emissions
Outlook

Penta is Committed to Reduce its Own Environmental Impact

Penta’s digital infrastructure is already powered by 100% renewable energy and all “Pentonians” can commute to work by public transport free of charge. To further reduce emissions in the long term, Penta has already appointed a Climate Officer and Green Team to advance the transformation process of the company.

In the future, Penta plans to make all of their bank cards from 100% recyclable PET-G plastic and their packaging from grass paper.

CLimate action

Penta Takes Climate Action

Offsetting is a relevant stepping-stone to have an immediate impact on unavoidable emissions. Penta therefore decided to offset the company’s carbon footprint from 2020 by supporting three climate projects in Sierra Leone, Indonesia, and Costa Rica.

The first project in Sierra Leone helps to decrease smoke-induced health risks and the number of diseases due to contaminated water. So far, a 64% reduction in the incidences of water-borne diseases has been observed. It also prevents potential contamination of water by maintaining boreholes and educational training around proper water usage. An additional 15,920 people gained access to safe water so far. The second project, the REDD+ Borneo Rainforest Protection Project in Indonesia, protects 64,500 hectares of carbon-rich peat swamp forests with a high biodiversity in lowland Borneo from the conversion to palm oil plantations. In addition, local communities are supported by providing training in sustainable agriculture, and biodiversity and wildlife habitat. The Afforestation Programme in Costa Rica, the third project, creates secure, long-term jobs and fair working conditions, including accident, health and pension insurance coverage, personal safety equipment and continuous education and training for the local population and supports environmental education of the local population.

Clean Water
Project

Sierra Leone
1 / 3

REDD+ Borneo Rainforest
Protection Project

Indonesia
2 / 3

Afforestation
Programme

Costa Rica
3 / 3