Sustainability in the Finance Sector

In some industries, being more sustainable only needs a few relatively simple swaps here and there. It’s more of a challenge for others though, no matter how good their intentions.

Sadly the finance sector has a tendency to tumble into the ‘challenged’ category, what with the high volumes of paperwork that the work generates. We’re pretty glad to say that the adoption of fintech solutions (like us!) is able to help make the environmental impact of bookkeeping a bit lighter.

Not only is it more efficient, it’s a pretty good way to cut down paper-use, rather than cutting down trees (sorry). So how can the sector become more eco-friendly? Here are a few pointers for becoming a more environmentally responsible member of the finance sector.

Go paperless

The paperless workplace isn’t a new concept, and in fact it’s been around for a while. With the government’s impending plans to become carbon neutral, reducing paper consumption is taking a more prominent place in the spotlight.

Fortunately, there are all sorts of apps, software, services and digital tools that make paperless working more feasible. Not to bang our own drum (OK, maybe just a bit of a tap) Pandle is cloud based and so can be used on your existing digital devices. So the computer and mobile that you’re using anyway, can also be used to access Pandle. You don’t even have to print records, as everything is stored digitally.

Used recycled paper where paper can’t be avoided

We’re realistic about what it means to go paperless, and understand that some clients or suppliers just feel better about a tangible piece of paper. To help reduce the impact, try to use recycled paper from a sustainable source. And then when it’s time, dispose of it (securely – data protection!) appropriately, using a confidential waste disposal service who also recycle.

Promote the tax benefits of electric vehicles

As of April 2020, those given an electric company car to drive won’t pay any benefit-in-kind (BIK) tax. The business owner providing the electric charging station at work will also be able to do so without taxation. Not only is that a good sell for accountancy firms in general, it’s a pretty good recommendation for clients.

Embrace the benefits of a mobile workforce

Abandon tradition and reap the rewards of employees who are able to work off-site, whether it’s at home or in their local café. This will help you save energy as a business and allow you to function with small premises.

Make virtual meetings the norm

For accountant with clients all over the country – sometimes all over the world – travel can be a big part of their working lives. Driving or flying to face-to-face meetings is a costly part of the job not only in cash but also in environmental impact.

Invest in some decent video conferencing facilities or just hold some meetings via video call to reduce the amount you and your workforce are having to travel. It will lower your CO2 emissions as well as your expenses.

If your clients don’t have their heads in the cloud just yet, learn more about how we can help.

Elizabeth Hughes

A content writer specialising in business, finance, software, and beyond. I'm a wordsmith with a penchant for puns and making complex subjects accessible.

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