Fintech
Oxbury, the UK’s first and only 100% dedicated agricultural Fintech, publishes annual Natural Capital Report
- Doubling emissions: Oxbury’s emissions and financed emissions increased in 2023, underscoring its aggressive sustainability efforts.
- Growth of Transition Finance: Transition financing in Oxbury’s loan portfolio increased to 28% in 2023, up from 22% in 2022.
- Efforts to restore nature: Since 2019, Oxbury has restored 15 hectares of ecosystems and planted 26,000 trees, storing over 6,000 tonnes of carbon.
Oxbury, the UK’s only fintech dedicated solely to agriculture, continues to lead the charge on sustainability with the publication of its second annual Natural Capital Report. Launched in 2021, Oxbury’s mission is to finance food production and agriculture, supporting the sector’s transition to a productive and sustainable rural economy. The bank’s unique combination of expertise in finance, agriculture and technology has quickly made it a key player in the UK’s £21bn agricultural finance market.
As the only bank in the UK with a 100% focus on British agriculture, Oxbury embeds sustainability into its core operations, helping farms transition to a low-carbon, nature-positive economy. The bank’s inaugural Natural Capital Report in 2022 marked it as an early adopter of the Taskforce on Nature-related Financial Disclosures (TNFD) framework.
“From day one of our Oxbury visions, we have built sustainability and helping farmers transition to a low-carbon economy into our DNA – our Natural Capital Report is a testament to these efforts.“ said Nick Evans, chief executive of Oxbury.
Key findings of the 2023 report:
- Oxbury Emissions (tCO2e): Increased to 320.2 from 160.1 in 2022.
- Financed emissions (tCO2e): Rise to 848,454 from 533,138 in 2022.
- Transition Finance: Now at 28% of the loan portfolio, up from 22% in 2022.
- Restoring nature and carbon storage: Since 2019, Oxbury has restored 15 hectares of ecosystems and planted 26,000 trees, storing over 6,000 tonnes of carbon.
The report highlights pilot studies with agribusiness clients to assess natural capital assets, including projects that create comprehensive views of on-farm emissions and carbon storage. This research helps farmers understand the environmental impacts of their practices and plan for emissions reductions and increased carbon storage.
Oxbury’s commitment to sustainability:
- Carbon neutrality: Since its founding in 2018, Oxbury has maintained a carbon neutral status by offsetting all operational emissions.
- Employee Compensation: Oxbury offsets an additional 10 tCO2e per employee annually to cover their personal emissions.
“With the Bank’s strong technological capabilities, led by its proprietary Oxbury Earth technology platform, combined with our expertise and knowledge in agriculture, land management and the natural environment, Oxbury is taking a leading role in developing metrics and methodologies to integrate climate and nature considerations into credit models across both the financial and rural sectors.“ added Evans.
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Agriculture is responsible for around 10% of the UK’s greenhouse gas emissions. Oxbury’s efforts in sustainability reporting and supporting farm businesses are crucial as the sector faces significant climate-related risks. The bank’s innovative approaches and firm commitment to sustainability set a benchmark in the UK banking sector.
For more information visit Oxbury Natural Capital Report.