Mortgage servicing software firm Phoebus has received validation from the Science Based Targets initiative (SBTi) following submission of its emissions reduction plans.
Phoebus, which has been carbon neutral since 2009, has set a target to achieve net zero by 2040, reducing Scope 1 and 2 emissions by 100% and Scope 3 emissions by 42% by 2030.
The targets have been formally approved and validated by the SBTi as aligned with a 1.5°C trajectory, in accordance with the goals of the Paris Agreement.
The SBTi is a leading global framework that helps businesses set ambitious, science-backed goals to reduce their carbon emissions and align with the goal of limiting global warming to 1.5°C.
Kate Langton, Chief People Officer at Phoebus, said: “Achieving SBTi approval is seen as the gold standard in corporate climate action and demonstrates the credibility of our environmental approach.
“This milestone reflects our sustained efforts to reduce greenhouse gas emissions across our value chain and reinforces our strategic focus on climate action and long-term environmental stewardship.”
The figures were published as part of Phoebus’s Positive Impact Report 2025, which outlines its Environmental, Social and Governance commitments based upon its four pillars of climate, community, people and governance.
This year’s report shows carbon intensity per employee was 7.0 tCO₂e in 2024, consistent with 2021 and significantly lower than 2022’s peak of 9.9.
Total emissions rose slightly as the business grew in 2024 to 839.8 tCO₂e, up from 658.7 in 2023, but still well below pre-2022 levels.
Solihull-based Phoebus, which employs 125 people, outlined its carbon reduction measures in the report.
These included switching to green energy suppliers in 2025 and removing gas powered heating or moving to more sustainable premises by 2028.
It has also set a 20% emissions reduction target for purchased goods and services and is developing procurement policies to ensure new suppliers meet Net Zero goals.
Kate continued: “As we continue to deepen our understanding of carbon emissions and their impact, we’re constantly looking for new ways to reduce our footprint and promote a greener way of working across our clients, partners, and colleagues alike.
“We remain fully committed to transparency in reporting any changes and will strengthen our reduction efforts accordingly.”
Phoebus’s environmental, social and governance (ESG) leadership also supports its clients’ own sustainability and governance commitments, particularly in areas such as securitisation, where transparency and operational resilience are critical.
As lenders increasingly issue socially responsible and green securitisations, Phoebus’s robust servicing platform and verified ESG credentials provide an essential layer of assurance for investors and rating agencies.
The adoption of science-based targets has accelerated in recent years with a growing number of companies recognising its importance in achieving net zero and carbon reduction targets. A recent report by SBTi found nine in ten companies reports positive business impacts, particularly in strategic cohesion, stakeholder confidence, financial performance, as well as climate impact.
