Shoal Limited Sustainability - SustainabilityTracker.com

Sustainability Summary

This is an unclaimed profile. Shoal Limited has not joined Sustainability Tracker to verify their sustainability credentials. We gathered what we could from public sources.

What do our labels mean?

Shoal Limited is a UK-based financial services company offering Shoal Savings Pots and a sustainable finance platform. Its stated mission is to help people achieve financial goals while promoting environmental and social responsibility. The platform references savings against Standard Chartered Bank’s Sustainable Finance portfolio, and says all savings pots are FSCS protected. Shoal describes its offering as a way to support green and social projects, with impact tracking for CO2 avoidance and clean water generation. It also states that it contributes to a range of UN Sustainable Development Goals and works with regulated third parties to provide its services.

About Shoal Limited

Status
Unverified

Website
Visit Website

Employees
5 - 25

Country
United Kingdom

Shoal Limited Sustainability Actions

Launched Shoal Savings Pots

The Shoal App and Shoal Sustainable Savings Pots are provided by Shoal Limited. Shoal says that with Shoal, customers can get started with as little as one pound, top up their account, create a Savings Pot, and select the term they would like to save for. Once a Savings Pot is created, the money is referenced against Standard Chartered Bank’s Sustainable Finance portfolio.

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Built impact tracking tools

Shoal says it developed a first of its kind ‘impact’ calculator as part of its commitment to transparency. The calculator is based on Standard Chartered’s audited Sustainable Finance Impact report and shows the average CO2 avoided and clean water generated per dollar of financing. Shoal also says users can see the CO2e avoidance and clean water they help generate with their savings.

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Referenced savings to sustainable finance

Shoal says money saved through Shoal is referenced against a global portfolio of assets that support sustainable development. When Shoal places money from Savings Pots with Standard Chartered, the funds are given a distinct sustainable product code so they are referenced exclusively against Standard Chartered’s sustainable finance portfolio.

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Supported sustainable projects

Shoal says the activities supported by saving through Shoal include the construction of hospitals, extending electrified rail networks, creating energy efficient buildings and rolling out renewable energy projects such as offshore wind farms and solar power plants. Some projects generate and distribute clean water, and others provide access to microloans for low-income entrepreneurs.

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Implemented ESG and quality systems

Shoal Group says it has an ISO 9001:2015-certified Quality Management System, which is maintained through corporate continuous improvement processes and is regularly audited internally and externally. It also says it has committed to implementing the Essential 8 strategies and is working to ensure compliance.

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Shoal Limited Sustainability Commitments

2022

Launched in 2022

Standard Chartered said Shoal would be launching in 2022 as a digital platform to help fund the fight against climate change.

2024

Expanded partnership with Algbra

On 15 April 2024, SC Ventures announced a strategic investment in Algbra and said Shoal would partner with Algbra to enhance the customer proposition in the UK and distribute its products to UK retail customers.