back Back

Payhawk partners with Lune to help companies go green

By Gloria Methri

September 14, 2023

  • Business Spend Management
  • ESG
  • FinTech

Payhawk, Spend Management Solution, Business Spend Management, Payhawk Green, FinTech, UKPayhawk, the global spend management platform, has announced ‘Payhawk Green’, to help companies make more sustainable decisions related to company spending. The new features are available to all customers at no additional cost.

Increasingly companies want and are required to become more sustainable and transparent about their carbon footprint and sustainability efforts. For example, companies will soon need to comply with legislation such as the UK’s Streamlined Energy and Carbon Reporting (SECR) and the EU’s Corporate Sustainability Reporting Directive (CSRD).

Many businesses now use spend management solutions, such as Payhawk, to control spending and maximise the efficiency of their financial processes. With the release of Payhawk Green, customers can automatically quantify the CO2 associated with purchases on Payhawk cards at no extra cost.

In addition, Payhawk’s platform can be customised to collect and manage Environmental Social, and Corporate Governance (ESG) data for suppliers, thereby improving supply chain transparency. Collectively, these features can be used to help businesses comply with new regulations and help support their own ESG initiatives, such as offsetting their emissions.

Hristo Borisov, CEO and Co-Founder of Payhawk said, “Today’s release of Payhawk Green will help businesses with one component of their broader ESG initiative, and develop more features in the future that further support our customers.”

“To quantify spend-related carbon emissions, Payhawk has integrated with Lune. To maximise accuracy, the Lune platform uses the Greenhouse Gas Protocol estimations, considers product category and value, and uses industry-specific methodologies like the International Civil Aviation Organisation (ICAO) for flights or the Global Logistic Emissions Council (GLEC) for logistics. Lune uses thousands of spend-based emissions factors, with global coverage and country-specific data from more than 45 countries.

Erik Stadigh, Co-Founder of Lune said, “Whilst sustainability is such a new topic, every company approaches it differently. In light of the new EU regulations, it is something every company needs to consider. Payhawk is helping to pioneer how the spend management space can support businesses with integrated carbon emissions reporting built into it, and does not charge extra for this export.”

Previous Article

September 14, 2023

Cedar-IBSi FinTech Lab and startAD join forces to foster Abu Dhabi’s FinTech ecosystem

Read More
Next Article

September 15, 2023

Visa & NEOPAY team to launch flexible payment solution in the UAE

Read More

IBSi Daily News Analysis

UAE, money transfer

June 14, 2024

Business Spend Management

Digital remittances surge as key lifeline amid global economic challenges, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 13, 2024

Flexys partners with for debt collection

Read More

June 12, 2024

HSBC acquires Citi’s retail wealth management portfolio in mainland China

Read More

June 10, 2024

5 WealthTech platforms simplifying credit score tracking in India

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023