Sep 14, 2023

By Gloria Methri Share Payhawk, 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 Digital monthly issue Global coverage