We are building a sustainable business
Our approach to Environmental, Social and Governance
(ESG) is driven by efforts focused on four key areas:
Our vision and our commitment
To support key environmental initiatives where we can have meaningful impact for Funding Circle and its customers, and achieve a good standard of positive environmental impact and progress towards net zero
Achievements in 2023
- Achieved operational carbon neutrality for US and UK operations for 2022 application period, and completed first measurement of full Scope 3 emissions for 2023
- Completed financed emissions heat map of physical and transition risks, and roadmap to fully align to TCFD recommendations
- Co-funded a Tiny Forest project in Peckham, UK, through Earthwatch Europe, planting 1,200 trees and taking part in a citizen science day
- Through our partner Revivn, repurposed 222 computers and recycled 723lbs of electronic devices from our London office
Goals and roadmap for 2024
- Implement year one of TCFD climate risk roadmap
- Begin process to set science-based targets, aligning with the Science Based Targets initiative (“SBTi”)
- Earthwatch Europe partnership expanded for 2024, participating in five Tiny Forest projects in support of the UK's Tiny Forest movement
Our vision and commitment
To be best in class and live by our DEI statement, building an inclusive and diverse culture
Achievements in 2023
- Achieved our lowest gender pay gap result at 17.4% (mean)
- Delivered our second female empowerment programme, with a specific focus on ethnic diversity
- Deployed a programme of allyship training globally to further our education and understanding
Goals and roadmap for 2024
- Continue to make progress against key DEI metrics and targets, including women in leadership and the gender pay gap
- Provide ongoing and targeted training and support for our managers and all Circlers in support of our goals
- Continue to build out our Circler group infrastructure and ecosystem
You can read more about our DEI efforts
Our vision and our commitment
To support a diverse SME customer base: creating jobs, fostering financial inclusion, having a positive impact and providing opportunities, whilst having a multiplicative effect on the wider community
Achievements in 2023
- Renewed partnership with Hatch Enterprise to empower underserved social entrepreneurs and promote employee mentoring, with 140 businesses supported and 74 volunteer hours through mentoring and “friendly dragon” days
- Launched partnership with Thrive Mental Wellbeing support app, trusted by the NHS, providing free or discounted access to all SMEs in the UK
- Increased number of employee impact days from 124 in 2022 to 225 in 2023, including through corporate partnerships, delivering against our goal of 100 volunteers and 150 volunteer hours. More than 50 UK Circlers volunteered with a conservation trust, 135 US Circlers gave time to a water purification project, and others fed people in need with the charity Refuge Network International
Goals and roadmap for 2024
- Progress commercial product strategy review, targeting positive social and sustainability outcomes for borrower customers
- Build on social impact opportunities in the UK business
SMEs are strategically vital to the fortunes of the UK economy, and we are proud to champion them. Our latest Economic Impact Report, produced in partnership with Oxford Economics examines the vital role small businesses play in our economy.
We have also started to support wider SME-focused social initiatives. Through our partnership with the charity Hatch Enterprise, we are empowering underrepresented entrepreneurs to imagine, launch and grow sustainable and impactful businesses through tailored support, community and partnerships. During the partnership, volunteers from Funding Circle will be training and mentoring start-up businesses helping them learn skills to launch, grow or scale their businesses.
Funding Circle is also a proud signatory to HM Treasury’s Investing in Women Code, a commitment from the financial services industry which was launched in 2019 to improve female entrepreneurs' access to tools, resources and finances.
Our vision and commitment
To meet shareholder and investor expectations, and be viewed positively in the market
Achievements in 2023
- Became signatories to the Partnership for Carbon Accounting Financials (“PCAF”), and carried out peer and best-in-class ESG benchmarking
- Board and Global Leadership Team (“GLT”) completed climate risk and TCFD training
- Published ESG-related policy statements on our Sustainability webpage to improve stakeholder access to information
Goals and roadmap for 2024
- Prepare for UK introduction of ISSB/ IFRS S1, S2; and development of Transition Plan
- Assess, map and develop integration and reporting of UN SDGs with our global ESG framework
- Assess and approve Human Rights statement
Funding Circle policies and statements
| Date | 26 June 2024 |
|---|---|
| Title | Human Rights Statement |
| Document | View |
| Date | 29 May 2024 |
| Title | Funding Circle Global ESG Framework |
| Document | View |
| Date | 20 December 2023 |
| Title | Customer Complaints (UK) |
| Document | View |
| Date | 20 December 2023 |
| Title | Funding Circle Code of Conduct |
| Document | View |
| Date | 20 December 2023 |
| Title | People at Funding Circle |
| Document | View |
| Date | 20 December 2023 |
| Title | Modern Slavery Statement |
| Document | View |
| Date | 20 December 2023 |
| Title | Data Protection |
| Document | View |
| Date | 20 December 2023 |
| Title | Information Security |
| Document | View |
| Date | 20 December 2023 |
| Title | Global Whistleblowing Policy |
| Document | View |
| Date | 20 December 2023 |
| Title | Anti-Corruption and Bribery Policy |
| Document | View |
| Date | 20 December 2023 |
| Title | External Assurance Supplier Standard |
| Document | View |
| Date | 20 December 2023 |
| Title | Supplier Code of Conduct |
| Document | View |