Environmental, Social and Governance Report
18/07/22 | V2.0
Moneyhub’s mission is to help enhance the lifetime financial wellbeing of people, their communities and their businesses. We want to transform the way that people understand and engage with their finances through our software as a service either directly through our own app and website or through our business and enterprise partners.
Environmental, social and governance reporting is multi-faceted.
Environmental considerations
As a software business the majority of our environmental impacts are scope 3, that is indirect impacts from organisations whose products and services we use. (REF. 1)
Our head office in Bristol is managed by Runway East who have overall responsibility for ensuring the office is safe and managing the environmental impact, including electricity and heating, of their tenants. Runway East is currently in the process of implementing a strategy to ensure the office space is planet friendly. The company currently ensures that 90% of its energy is renewable and is committed to increasing this to 100% by 2023. Furthermore there is a commitment to only using non-toxic cleaning products in the office as well as working towards a further reduction in the use of single-use plastics on site.
Moneyhub employees are advocates for reducing, re-using and recycling any tangible resources from food waste to printer cartridges. When Moneyhubbers can travel to meetings with stakeholders, public transport is encouraged.
Moneyhub’s software is deployed on Amazon Web Services, so we are reliant on AWS’ environmental impact management approach and as a SME customer of AWS we have limited ability to influence their environmental choices.
Similarly, as a SME customer or hardware supplier we have limited scope to influence the environmental footprint of vendors. Moneyhub is actively reviewing its end of life policy for computing equipment to support local community projects where possible.
The average website produces 1.76 grams of CO2 per page view (REF. 2) which we believe that we are in line with.
Social
We are a small but diverse team - of varying ages, ethnicities and genders and with members of the BAME and LGBT communities.
Moneyhub is unusual amongst financial services and technology organisations in that the business is led by a female CEO as well having a female CFO. The financial services industry averages only 20% representation of women on executive committees and 23% on boards (REF. 3). Whereas 49% of UK workers are women, just 19% of tech workers and 22% of tech directors are women. Almost a third of our people are female, rising to 50% at C-suite level.
Supporting flexible working: Moneyhub is committed to making work possible and flexible to support the work-life balance of all our team. We have equalised our benefits, introducing 'family pay' - six weeks of paid leave, regardless of how someone becomes a parent.
Championing diversity in recruitment: Moneyhub actively recruits across diverse backgrounds. We periodically review our recruitment in order to identify areas that may need positive action measures to promote equal opportunity and diversity.
Workplace culture: We are committed to providing a workplace culture that reflects our values of being collaborative, agile and nurturing. Our employees should be - and feel - safe from harassment and bullying. They should be - and feel - free to discuss concerns about our operations internally to their line manager or externally without fear of consequences.
Safeguarding: Moneyhub has recently reviewed and updated its Safeguarding policies. These were communicated to all employees and are always available on the Moneyhub Intranet.
Charitable giving: Employees are entitled to two days paid leave per year to undertake a volunteering activity of their choice. Moneyhub supports local community and charitable partners.
Governance
We are committed to developing business relationships with high quality suppliers and partners who themselves are committed to operating under ethical and environmental standards equivalent to our own - including in the fair treatment of customers, employees and other stakeholders. This is evidenced by our partnerships, such as The Big Exchange; products, facilitating cost-effective and frictionless charitable payments; and advocacy for financial inclusion and customer-centric services through Sam Seaton’s (CEO) roles as a Non-Executive Director of Charities Aid Foundation (CAF) Bank, on steering groups with Pensions Dashboards Programme and TISA and Dave Tonge (CTO) role shaping future open standards at FDATA, where he was a founding member.
Data security and privacy are at the heart of what we do. We are ISO27001 certified and both AISP and PISP authorised and regulated by the FCA.
We do not sell our customers’ data to third parties.
We are committed to using our voice to stand up for causes related to our business in line with our values and ethics.
References
Scope 1 – All Direct Emissions from the activities of an organisation or under their control, e.g. fleet vehicles or plant equipment. Scope 2 – Indirect Emissions from electricity purchased and used by the organisation. Scope 3 – All Other Indirect Emissions from activities of the organisation from sources that they do not own or control. For example, business travel, procurement, waste and water as set out in the Greenhouse Gas (GHG) Protocol https://ghgprotocol.org
https://edubirdie.com/blog/diversity-and-inclusion-in-uk-tech-companies