Thursday 9 April 2020

Avaloq ‘to reach carbon neutrality by the third quarter of 2020’

Avaloq, a digital banking and wealth management solutions provider, has announced its plans to reach net zero emissions and to be using 100% renewable energy globally by the third quarter of 2020.

The firm says it is using a three-step process of avoiding, reducing and offsetting to ensure it reaches its goal.

In addition, Avaloq plans to purchase Energy Attribute Certificates (EACs) equal to its total MWh consumption - each EAC is proof that 1MWh of renewable energy has been produced and injected into the grid.

By purchasing EACs equal to its total grid consumption, the company can be confident that all its grid-sourced electricity has come from renewable generators.

Jürg Hunziker, Avaloq Chief Executive Officer, said: “Avaloq has made significant progress in many ESG areas, as evidenced by our adherence to the United Nations Global Compact and by reaching net zero emissions before the end of the year.

“We have worked very hard to shift from a separate sustainability strategy to an integrated corporate sustainability strategy, which means we are now embedding sustainability into everything we do: our people, our solutions, and our operations.”