Multitude Strengthens Commitment to Sustainability by Joining Partnership for Carbon Accounting Financials
Helsinki, 16 November 2023 – Multitude SE – a fully regulated international growth platform for financial technology (ISIN: FI4000106299, WKN: A1W9NS) (“Multitude” or “the Group”) proudly announces its membership in the Partnership for Carbon Accounting Financials (PCAF), underscoring its mission as a fully digital FinTech company to greening the financial services. Multitude recognises the need for collective action in the face of climate change and is committed to supporting the transition to a low-carbon economy.
PCAF, a global collaboration comprising over 440 financial institutions spanning six continents, focuses on harmonising assessments and disclosures of greenhouse gas emissions associated with loans and investments. Multitude joins this leading group of financial innovators, including industry giants like Barclays, Morgan Stanley, Citi, Bank of America, ABN AMRO, and Lloyds, in a shared mission to establish accurate carbon accounting standards within the financial sector. With a presence rapidly expanding across North America, Latin America, Europe, Africa, and Asia-Pacific, PCAF now boasts over 100 institutions, including approximately 80 banks.
As part of its Environmental, Social and Governance (ESG) strategy, the Group aims to future-proof its environmental impact and since 2022, has undertaken progressive steps towards elevated monitoring of its carbon footprint, including, regarding SME and corporate lending activities.
Joining PCAF enables the Group to significantly improve its carbon accounting by providing a clear standard for measuring and disclosing financed emissions, informing actions that further the ambitions of the Paris Agreement and climate risk management.
For further information, please contact:
Lasse Mäkelä, Chief Strategy and IR Officer of Multitude SE
+41 79 371 34 17, lasse.makela@multitude.com
About Multitude SE:
Multitude is a fully regulated growth platform for financial technology. Its ambition is to become the most valued financial ecosystem. This vision is backed by 18+ years of solid track record in building and scaling financial technology. Through its full European banking license, profound know-how in technology, regulation, cross-selling, and funding, Multitude enables a range of sustainable banking and financial services to grow and scale. Currently, it has three independent business units on this growth platform: Ferratum as consumer lender, CapitalBox as business lender, and SweepBank as a shopping and financial app. Multitude and its independent units employ over 700 people in 16 countries, and they together generated EUR 212 million turnover in 2022. Multitude was founded in 2005 in Finland and is listed in the Prime Standard segment of the Frankfurt Stock Exchange under the symbol ‘FRU.’ www.multitude.com
About the Partnership for Carbon Accounting Financials (PCAF):
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 430 financial institutions have subscribed to the PCAF initiative. PCAF participants work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions of their loans and investments. By doing so, PCAF participants take an important step to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society. For more information see https://carbonaccountingfinancials.com/
