The ESG pledge is in partnership with fellow Singapore-based company Handprint
Thunes, a Singapore-based cross-border paytech, has pledged to plant one tree for every 5,000 transactions processed over its platform over the next two years.
The pledge, in partnership with Handprint, is part of the company’s ESG programme to promote sustainability, responsibility, diversity and equality.
Handprint offers corporations a range of projects aligned with the UN sustainable development goals, such as coral reef construction, targeted education and biodiversity loss.
Thunes partnered with Handprint in 2022 and currently supports reforestation in Indonesia, Nigeria, India and Kenya.
The company has planted more than 125,000 mangrove trees to date. Handprint says all reforestation efforts are fully traceable and audited.
Peter De Caluwe, deputy chairman of Thunes, said: “With our commitment to reforestation and biodiversity, we are making a positive impact on the environment with every transaction.
“Handprint’s impressive standards and far-reaching work will enable us to deliver an effective sustainability programme. Furthermore, our pledge helps differentiate Thunes as a truly innovative payment partner.”
Dr Simon Schillebeeckx, chief vision officer of Handprint, commented: “We are delighted to deepen our partnership with Thunes to help it and its customers play a more meaningful role in regenerative sustainability.
“All industries, including fintechs, can do more to support nature, improve biodiversity and protect people. Our platform connects an enterprise’s KPIs to specific sustainability initiatives, making it easy for them to make a tangible difference.”
Mangrove forests are crucial in mitigating climate change, with nearly 75% of their carbon stored in their extensive underground root systems and soil. Depending on local conditions, a single mangrove tree will absorb between 180 and 500kg of CO2 over its 20-year lifespan.
Mangroves also provide natural barriers, safeguarding coastal communities from hurricanes and storms.