Sia Partners teams up with Greenly for sustainability in banking

15 June 2021 Consultancy.eu 3 min. read

Sia Partners has inked a partnership with Greenly – a digital tool that can calculate the carbon footprint of banking operations. The pair are looking to support the transition to sustainable finance in Europe and worldwide. 

The combined offering targets all stakeholders in the financial services sector – consumers, investors and corporate, retail and investment banks – many of use Sia Partners’ expertise to grow and transform at the cutting edge. 

As it happens, becoming more sustainable and conscious of environmental, social and governance (ESG) factors is currently a top priority in financial services worldwide – and Paris-headquartered Greenly has developed a robust tool to meet these objectives. Teaming up allows Sia Partners’ clients to benefit from the tool, while Greenly can scale beyond its existing base of over 20,000 users. 

Sia Partners teams up with Greenly for sustainability in banking

Greenly uses transaction history to calculate carbon footprints – adding unique value for each stakeholder. 

Enabling green practices

For environmentally-conscious consumers, the tool helps cultivate a more sustainable lifestyle. A January 2021 study by research firm Happydemics – part of Sia Partners’ investment portfolio – revealed that more than a quarter of bankable consumers below the age of 34 would like a carbon footprint calculator at their bank. 

“The association with Greenly on this subject allows us to fully address this issue from a strategic framing and digital implementation perspective, allowing each bank to stand out on this topic and offer its customers a differentiating added value,” read a statement from the management consultancy.

For corporates, Greenly forms the bedrock of sustainability targets and compliance. Many businesses have set themself a goal of cutting carbon emissions within the decade – chasing net zero or carbon neutral status. A clear, digitalised overview of their carbon footprint is invaluable for decision-making along the way.

Consumer sentiment aside, this green drive is partly powered by growing regulatory pressure to disclose emissions. Examples include the Sustainable Finance Disclosure Regulation and the Task Force on Climate-related Financial Disclosures – all aimed at making business and finance more responsible.

Lastly, asset managers and investment banks can use the Greenly and Sia Partners combination to put a carbon value on their portfolio – keeping it within the fore of consumer demands and regulatory requirements. According to a statement by Sia Partners, targeting banks is crucial to bring such far-reaching change.

“Banks are an essential lever for democratising the use of these solutions which meet an undeniable environmental need. This solution allows us to go beyond ‘Greenwashing’initiatives by providing banks with a turnkey solution that is efficient and allows them to expand the services offered in a ‘Beyond Banking’ logic.”