Finance Reports

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You are reading the Ecologi finance update for January to March 2022. 
As part of our drive to be transparent about our finances and operations, we publish finance updates once per quarter, to try and lift the lid on what we do here at Ecologi.

Between January and March 2022, our subscribers funded 7,893,555 trees and 465,593 tonnes of verified carbon reductions. Our community’s tree total for this quarter is marginally down from the number of trees funded in Q4 2021, and our volume of carbon credits funded is over 6% higher than last quarter.
You can see our full impact in the public impact ledger <a href="https://lookerstudio.google.com/reporting/adfb141d-4153-4c22-b6b4-976f7f3930b2" target="_blank" rel="noopener">here</a>, and find out more detail about the projects we have funded <a href="https://ecologi.com/projects">here</a>.
The latest graphs of our trees and carbon funding received against our tree and carbon purchases are below:

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Screenshot 2022-08-03 at 15.07.14

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Screenshot 2022-08-03 at 15.08.10

Individual subscriptions represented a gross income of £395,682.61 this quarter, and Climate Positive Workforce subscriptions represented a gross income of £533,033.81. Our total income from all subscribers, marketplace and other revenue was £1,858,876.88.
The area graph of our monthly income by revenue stream for this quarter is below. This illustrates how our income streams have grown over the time period.

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Screenshot 2022-08-03 at 15.36.02

Our commitment to funding climate solutions for our individual subscribers and marketplace sales is 85%, and for our Climate Positive Workforce customers is 77.5%.
Across this quarter, the necessary commitment to funding climate solutions, based on the weighted average commitment required across all subscriber income this month, was 83.57%. This is calculated by multiplying the commitment required for each income stream by the amount of revenue generated by that income stream across the time period, adding those figures together, and then dividing this by the total income.
Our total cost of sales (which includes our <a href="https://ecologi.com/">tree planting</a>, carbon purchases and transaction costs) was £2,307,051.05
This means that in this quarter, whilst we had committed to spend 83.57% of our income on climate solutions, we actually spent 80.38% of our income on climate solutions.

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Screenshot 2022-08-03 at 15.46.07

The waterfall chart below shows the different things we spent money on during this quarter, and this quarter’s resulting surplus or deficit.
You can also see a visualisation of the amount we spent on climate solutions in this quarter against our total income, to verify the above workings out.

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Screenshot 2022-08-03 at 15.47.52

You can find out more about our finances and operations in our quarterly financial reports located in our <a href="https://lookerstudio.google.com/reporting/adfb141d-4153-4c22-b6b4-976f7f3930b2" target="_blank" rel="noopener">Public Impact Ledger</a>.

Blog

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Hopescrolling: The good news timeline

It’s not all bad. While there’s a lot of negative news about the climate, let’s not forget the good stuff. Find climate wins, reasons to be hopeful and plenty of positivity in our good news timeline.

The good news timeline

Ready to make a difference for our planet? Get in touch, and let’s chat about how we can help you on your climate journey. 

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Ecologi acquires Net Zero Now

In a landmark move set to reshape corporate climate action, we’re excited to announce that Ecologi, the UK&#8217;s most trusted climate action platform, has acquired <a href="https://netzeronow.org/" target="_blank" rel="noopener">Net Zero Now</a>, the sector-specific carbon measurement and reduction platform for businesses.
The combined entity operating under the Ecologi brand will create a single solution for industry climate leadership towards net zero. The integration combines sector-specific carbon measurement and reduction with world class verified climate projects that supports businesses wherever they are on their net zero journey.

<h2>The game-changing impact of this acquisition</h2>
The strategic acquisition solves two fundamental challenges in corporate climate action: businesses have been forced to choose between fragmented solutions and generic ‘one size fits all’ approaches that ignore crucial sector-specific needs. By combining Net Zero Now&#8217;s sector-specific protocol expertise with Ecologi&#8217;s platform funding top-tier climate projects, we&#8217;re creating a tailored and complete solution helping businesses lead their industries towards net zero.

Reduce emissions.
<ul>
<li style="font-weight: 400;" aria-level="1">Measure Scope 1, 2 &amp; 3 emissions with sector-specific industry GHG protocols</li>
<li style="font-weight: 400;" aria-level="1">Set short term and long term reduction target emissions aligned to SBTi</li>
<li style="font-weight: 400;" aria-level="1">Tailored reduction plans for sector-specific emissions pathways</li>
</ul>
Restore our planet.
<ul>
<li style="font-weight: 400;" aria-level="1">Compensate for unavoidable emissions as you reduce them through 
funding verified, high-quality carbon avoidance and removal credits</li>
<li style="font-weight: 400;" aria-level="1">Contribute to global climate goals by funding climate Impact Funds for 
beyond value chain mitigation and/or as part of your products &amp; services</li>
</ul>
Report on progress.
<ul>
<li style="font-weight: 400;" aria-level="1">Corporate sustainability standards e.g. CSRD, SECR, SBTi, CDP, B Corp</li>
<li style="font-weight: 400;" aria-level="1">Sector specific standards e.g. Accountancy, Hospitality, Public Sector</li>
<li style="font-weight: 400;" aria-level="1">Custom climate impact reports and embeddable dashboards</li>
<li style="font-weight: 400;" aria-level="1">Communications toolkit for board and stakeholder engagement</li>
</ul>

Climate leadership starts here

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Neil Ross Russell, Managing Director of Net Zero Now, said:
<blockquote>Businesses want to take climate action, but they want to know they’re doing it right and what’s right for a restaurant business is not the same as what’s right for an accounting firm.  They need industry-specific guidance and clear pathways to climate leadership. By joining forces with Ecologi, we&#8217;re creating a platform that allows us to provide credible, simple and affordable, sector-specific, end-to-end climate solutions for businesses in our existing sectors and collaborate with industry partners on new sector-led solutions.</blockquote>

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Adobe Express - file

The acquisition aligns with Ecologi&#8217;s mission to accelerate business climate action and grow our 24,000 strong customer base. Established sector protocols including hospitality and professional services will be the initial focus with plans to expand across additional industries throughout 2025.
With organisations under increasingly complex stakeholder and industry compliance demands for environmental accountability, this end-to-end solution also ensures streamlined reporting, monitoring progress, supply chain transparency, and voluntary disclosures. This transforms business leaders into climate leaders with the confidence to tackle their climate commitments head-on, communicating and meeting critical regulatory requirements like SECR, CSRD and SBTi.

<h2>More about Net Zero Now</h2>
Founded in 2021, Net Zero Now has developed a proprietary sector-led approach, which combines climate expertise alongside the sector knowledge and experience of relevant industry bodies, industry influencers and larger businesses to reach a consensus around what Net Zero means in practice for businesses in each sector. To date, the company has measured and validated 1.8 MtCO2e lifetime emissions supporting more than 50+ leading brands including Coca Cola Europacific Partners, L&#8217;Orèal, Heineken, Pernod Ricard, Subway, Hard Rock Cafe, Adnams, Edgbaston and James Cowper Kreston.

FAQs

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Case studies

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4 hospitality companies leading the way on climate action

Sustainability is no longer a nice-to-have in the hospitality industry — it&#8217;s a business necessity. With increasing regulatory pressure, shifting customer expectations, and the growing impact of climate change, hospitality businesses are finding that taking action isn&#8217;t just about responsibility—it&#8217;s about resilience. This is particularly evident as 70% of Brits are now actively trying to live a more sustainable lifestyle (Nutritics, 2024), and 44% say sustainability is important in their choice of venue to visit (Morning Advertiser, 2023). From tackling food waste to cutting carbon emissions, the sector is facing both challenges and opportunities to drive meaningful change.
At the heart of this transformation is the food system. The hospitality industry relies on farming—a sector responsible for nearly 20% of global greenhouse gas emissions and one that is increasingly vulnerable to climate disruption. Rising temperatures, unpredictable weather, and supply chain instability are already affecting food availability and costs, making sustainability not just an ethical priority but a commercial imperative. This is reflected in consumer behavior, with 47% of consumers wanting more information about carbon footprints on menus, and 41% saying this information would influence their order (CGA Strategy, 2023).
Fortunately, forward-thinking hospitality businesses are stepping up, driven by clear market demand—34% of UK pub and restaurant goers are prepared to spend more in venues with strong sustainability credentials, increasing to 47% for Gen Z and Millennials (Sustainability Beat, 2023). This generational shift is significant, with consumers aged 18-34 being nearly twice as likely to pay more for sustainability than those aged 55+ (WaterAid, 2023).
As the food and beverage industry awakens to its environmental responsibilities, and with climate change threatening to fundamentally disrupt global food security, restaurants and food service enterprises are stepping up to take meaningful climate action. These pioneering businesses are demonstrating how sustainability can enhance business performance while making a positive environmental impact, even as they navigate the unique challenges of being both a contributor to and victim of climate change.
Read about four hospitality companies that are championing climate action, and explore how they are turning environmental challenges into business opportunities.
Whether it&#8217;s engaging employees, measuring carbon footprints, or developing new sustainable service offerings, these venues are setting the standard for a greener future in hospitality.
<ol>
<li>Hawksmoor: Leading Sustainability in Fine Dining</li>
<li>Freemans Event Partners: Pioneering Sustainable Event Catering</li>
<li>Lisini Pub Co: Family Legacy Meets Sustainable Innovation</li>
<li>The Assemblies: Pioneering Sustainable Hospitality in Bristol</li>
</ol>

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<h2>Hawksmoor: leading sustainability in fine dining</h2>
Key Improvements:
<ul>
<li> Achieved B Corp certification in September 2022</li>
<li>Comprehensive review of operational sustainability across all locations</li>
<li>Implementation of energy reduction initiatives</li>
<li>Enhanced waste management systems</li>
<li>Water conservation measures</li>
<li>Integration of sustainability into staff training programs</li>
</ul>
Hawksmoor&#8217;s journey exemplifies how restaurant groups can lead in sustainability within the hospitality sector. Their comprehensive approach includes setting ambitious net-zero targets for 2030 while focusing on immediate operational improvements. The restaurant group&#8217;s commitment is evidenced by their systematic review of day-to-day operations across their locations in London, Manchester, Edinburgh, and New York. What sets them apart is their holistic approach to sustainability: examining energy usage, waste management, and water consumption while maintaining their reputation for quality dining. Their structured approach to employee engagement includes a two-day intensive induction program that emphasises sustainability, making it a core part of their culture.
Ellie Besley-Gould, Head of Purpose at Hawksmoor, said:
<blockquote>We&#8217;ve been heavily involved with the Sustainable Restaurant Association since about 12 years ago&#8230; It&#8217;s a really important area for us to be stepping up the work in, looking at how we can inspire change.</blockquote>

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<h2>Freemans Event Partners: pioneering sustainable event catering</h2>
Key Improvements:
<ul>
<li>Achieved 38.4% reduction in emissions compared to projections</li>
<li>Implemented innovative &#8220;Zero Zone&#8221; testing area</li>
<li>Introduced shuttle buggies for reduced transport emissions</li>
<li>Deployed hybrid power generators</li>
<li>Established carbon menu labelling</li>
<li>Enhanced waste management through compostable solutions</li>
</ul>
Freemans Event Partners&#8217; journey demonstrates how large-scale event catering can embrace sustainability without compromising service quality. Their innovative approach at the British Grand Prix showcases their commitment to reducing environmental impact in high-pressure environments. The company&#8217;s dedication is evidenced by exceeding their initial 5% emissions reduction target and implementing a groundbreaking &#8220;Zero Zone&#8221; area for testing new sustainability initiatives. What sets them apart is their data-driven approach to sustainability: measuring and analysing emissions across all aspects of their operation, from food stalls to logistics and waste management.
Richard West, Sustainability Manager at Freemans Event Partners, said:
<blockquote>Through partnering we&#8217;ve realised that collaboration is key to making lasting and impactful environmental changes in the events catering industry. The process has been much more straightforward than we thought it would be and we look forward to setting even bigger reductions targets as we go forward.</blockquote>

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<h2>Lisini Pub Co: family legacy meets sustainable innovation</h2>
Key Improvements:
<ul>
<li>Reduced scope 1 and 2 emissions by 48% through renewable electricity</li>
<li>Won the Flor de Cana Rum Sustainability Award</li>
<li>Achieved lowest electricity demand in 10 years</li>
<li>Implemented LED lighting and sensor systems</li>
<li>Launched biodiversity project at Dalziel Park</li>
<li>Developed sustainable kitchen practices and menu innovation</li>
<li>Created venue-specific green teams</li>
</ul>
Lisini Pub Co&#8217;s journey demonstrates how family-owned hospitality businesses can transform their environmental impact while preserving their heritage. Their comprehensive approach combines traditional Scottish hospitality with modern sustainability practices across their venues, including the historic Angels hotel in Uddingston. What sets them apart is their innovative approach to sustainability: implementing competitive green teams across venues, achieving dramatic emissions reductions, and maintaining their commitment to quality service. Their structured approach includes both operational improvements and employee engagement, making sustainability a core part of their 45-year family legacy.
Siobhan Edwards, Director Lisini Pub Group, said:
<blockquote>It&#8217;s not until we&#8217;ve been working in the last year that we&#8217;ve really truly understood our carbon footprint. It&#8217;s the right thing to do, it&#8217;s the right thing for our customers, for our planet, for the environment, and actually it saves us money at the same time.</blockquote>

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<h2>The Assemblies: Pioneering Sustainable Hospitality in Bristol</h2>
Key Improvements:
<ul>
<li>Established 100-mile radius local sourcing policy</li>
<li>Implemented full venue LED lighting systems</li>
<li>Introduced reusable cups for music events</li>
<li>Developed nose-to-tail food waste reduction policy</li>
<li>Created vegetarian menu options to reduce emissions</li>
<li>Enhanced supplier partnerships for sustainability</li>
<li>Achieved an impressive 3-star rating in the Food Made Good Standard, scoring 92% overall and 91% specifically in environmental practices</li>
</ul>
The Assemblies&#8217; journey showcases how urban hospitality venues can lead in sustainability while building strong community connections. Since their inception in 2009, they&#8217;ve demonstrated that local sourcing and environmental responsibility can coexist with business success. What sets them apart is their data-driven approach to sustainability: analysing carbon ratings, implementing local sourcing policies, and creating innovative menu solutions. Their comprehensive strategy includes everything from sound system upgrades to waste reduction initiatives, making sustainability integral to their operation.
Anna Blightman, Brand Marketing Manager, said:
<blockquote>Something that our partnership has allowed us to do, is lay all the data out on the table so that we can actually look at it, and stand to analyse it and understand where we can make changes. If we don&#8217;t start now, when will we start?</blockquote>

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As these leading hospitality companies show, meaningful climate action can drive significant business benefits—from stronger customer and employee engagement to enhanced brand reputation and risk mitigation. By taking a thoughtful, transparent, and impactful approach, businesses can pave the way for a sustainable future.
Ready to take the lead in climate action? Book in a 30 minute discovery call with our Hospitality sector experts and find out more about partnering with Ecologi to measure your emissions, set reduction goals and fund high-quality climate action on the road to net-zero.

Finance Report: January to March 2022

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