2023

Sustainability

Report

Contents

CEO statement

3

Bango sustainability highlights

4

The Bango sustainability approach - making the complex simple

5 - 6

Environment - Reaching Net Zero

7 - 10

SBTi validated target

8

Ongoing measurement and reduction

9

Engaging people on environmental sustainability

10

Social - Ensuring social responsibility

11 - 13

Employee engagement

11

Health & wellbeing

11 - 12

Diversity & inclusion

12 - 13

Learning & development

13

Giving back

13

Commercial - Driving commercial success through sustainability

14 - 15

Sustainability's commercial relevance to Bango

14

Seizing the commercial opportunities of sustainability

15

Governance - Underpinned by rigorous governance from board level down

15

Annex - formal reporting

16 - 18

SECR

16

SDGs

17

Mapping (SASB & GRI)

18

Bango PLC | 2023 Sustainability Report

2

CEO Statement

Bango is a high growth company, but it is

Environment - Bango is committed to reaching

important to us that this growth is sustainable.

Net Zero by 2040 and is in the process of obtaining

Sustainability has been a long-standing priority

validation of this target under the Science-Based

at Bango. It is fundamental to being both

Targets initiative - the most rigorous verification

a responsible business and a commercially

available. We are working with external experts

successful one. This report sets out our approach

to ensure our full team is educated and engaged

to sustainability and includes detail on actions

as we transition to Net Zero.

taken and our ongoing plan.

Social - In addition to our annual employee

The link between responsible business and

engagement survey, in 2023, we conducted a

commercial success is clear. As we serve the

dedicated Diversity & Inclusion survey, as well

largest merchants and telcos in the world and

as several D&I workshops. This has resulted

play an increasingly large role in their growth,

in employee-led action groups focused on

they demand the same level of sustainability from

everything from our internal processes to

us that they commit to themselves; the same is

recruitment to the society and community that

true of investors who increasingly ask and assess

supports us.

our sustainability.

Commercial - We are building on the wider

Bango takes a pragmatic approach to

employee education and engagement on

sustainability to ensure that, within the remit of

sustainability to make sure the sales team has the

our business, we drive meaningful change across

knowledge and skills they need to communicate

3 key pillars:

Bango sustainability initiatives confidently as

they develop client relationships and pitch for

1) Environment

new business.

2) Social

3) Commercial

This report is another milestone in the Bango

sustainability journey, and I look forward to

These pillars are all underpinned by robust

continuing our journey in this increasingly

Corporate Governance.

important area.

We have intentionally kept our sustainability

Paul Larbey

framework simple because we want to be clear

CEO

with our objectives. Achieving these sustainability

objectives will be challenging, but that doesn't

mean we need to overcomplicate how we

communicate about it.

Bango PLC | 2023 Sustainability Report

3

Sustainability highlights

Carbon Neutral Certification

Bango has been certified carbon neutral for scope 1 & 2 emissions since 2020.

In 2021, carbon neutral certification was extended to include scope 3 emissions and applied retrospectively to 2020.

Net Zero

In 2022, Bango submitted its commitment to SBTi to become Net Zero by 2040.

Bango is drafting its transition pathway to Net Zero and will submit for validation from SBTi in 2024.

Carbon Offsetting

Since 2020, Bango has invested to offset emissions that were unable to be eliminated.

Investments include:

  • Direct Air Capture (DAC) technology, which is considered one of the lowest risk methods of carbon removal. DAC removes
    CO2 from the air for permanent storage using underground mineralization.
  • Carbon credits from the World Land Trust's (WTA) high quality Carbon Balanced Project. This investment supported biodiversity, conservation and restoration projects in Guatemala, a country that loses an average of 180,000 acres of forest every year. This rapid rate of deforestation is driven by slash-and-burn agriculture, cattle ranching, and monoculture plantations, placing threatened and endemic species at risk of genetic isolation while destroying well-established carbon sinks. This investment helps protect more than 300,000 acres of tropical forests and wetlands, spanning the entire Caribbean coastline of Guatemala. These ecosystems serve as carbon sinks and provide environmental services like clean drinking water, timber, and natural disaster risk reduction for the people who live here.

Diversity & Inclusion

In 2022, Bango won the AIM Diversity Champion Award.

In 2023, Bango designed a 6 pillar action plan to prioritize D&I in all areas of the business.

Employees across Bango have selected pillars they most identify with to help continue positive change in those areas.

Employees

Many Bango benefits are focused on sustainability, including; an electric car scheme, a cycle to work scheme, free Chilly's water bottles to prevent single-use plastic, free yoga classes, funding for employee social activities, as well as matched charity funding.

Bango conducts an annual employee engagement survey.

In 2022, Bango introduced the role of mental health first aiders to provide support to employees.

Bango hosts themed weeks through the year, with activities and events to raise awareness of sustainability topics (e.g. environmental impact, mental health awareness etc).

Bango PLC | 2023 Sustainability Report

4

Approach to sustainability

Making the complex simple

Bango takes sustainability and its commitment to its people, environment, customers, investors and community seriously. It makes sense environmentally, socially and commercially, so it is managed using those three pillars.

This report isn't about warm words and convoluted frameworks. It is about showing Bango is both highly responsible and commercially driven. Achieving the Bango sustainability strategy requires complex work, but when communicating about it, the aim is to keep it simple.

How we do it

Environment

Social

Commercial

Reaching Net Zero

Ensuring social

Driving commercial success

through SBTi

responsibility

through sustainability

Governance

Underpinned by rigorous governance from board level down

Bango PLC | 2023 Sustainability Report

5

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Disclaimer

Bango plc published this content on 25 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2023 10:58:03 UTC.