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TCG is First FX Company to Offset Carbon Emissions
On 07.12.2006
The Change Group International Plc (TCG) has become the world’s first foreign exchange provider to offset all carbon emissions from its global business flights. This latest programme to help tackle climate change forms part of the Group’s corporate and social responsibility policy and reflects a longstanding approach to ethical business practice.

As a first step, The Change Group will donate to registered charity The Tree Foundation and to other organisations that are working towards protecting the rain forest and reducing the dependency on fossil fuel through low energy initiatives.

Sacha Zackariya, TCG’s Executive Director, International Development and co-founder of The Tree Foundation, explains: “We’re aiming to totally neutralise the CO2 added to the atmosphere as a result of the company’s air travel by funding eco-friendly projects around the world, such as forest restoration, sustainable development and renewable energy programmes.”

Climate change is a serious environmental threat to global society and the recent Stern Report suggests that, if not addressed, then it will also have a major impact on the world’s economic growth and development. However, research indicates that two thirds of UK companies have still not set budgets to comply with new regulations to reduce CO2 emissions. “TCG is, therefore, leading the way not only within the foreign exchange sector but across the UK business world as a whole,” adds Sacha Zackariya. “We are passionate about the travel industry and by taking a leading and proactive approach, long term sustainable growth is possible in balance with the environment.”

In addition to the obvious environmental benefits and avoiding the risk of fines for non-compliance, a DTI report highlights the fact that reducing your company’s carbon footprint can have commercial advantages too. Sacha Zackariya concludes: “Our main incentive is to protect our planet for future generations, but it seems that climate-friendly companies may also inspire greater customer loyalty and raise their appeal to new customers – so perhaps this will persuade many more organisations to follow our example.”

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