- Challenging market conditions in core foreign exchange broking business due to lower foreign exchange volatility, leading to lower demand. Costs grew faster than revenues in 2023.
- Attrition in senior leadership team.
- Increased credit, cyber, and fraud risks due to macroeconomic environment.
ARGENTEX GROUP PLC
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, ARGENTEX GROUP PLC disclosed greenhouse gas emissions of 70.4 tCO2e (offset). By scope: Scope 1: 0.0 tCO2e; Scope 2: 32.8 tCO2e; Scope 3: 37.6 tCO2e. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
70.4 tCO2e (offset)
2023
Waste
8.5 tons (2023); 4.1 tons (2022)
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 0.0 tCO2e |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 32.8 tCO2e |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 37.6 tCO2e |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 70.4 tCO2e (offset) |
| 2022-04 to 2022-12 | 1.7K CO2t removed |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduction in carbon footprint per turnover intensity metric (London office only) from 0.31 tCO2e in FY21/22 to 0.27 tCO2e in FY22/23. 69,426 trees planted through 'Trees for Trades' initiative, sequestering 2,611.8 tCO2e. Offset carbon footprint of 70.4 tCO2e via Earthly.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Align costs more appropriately with revenues.
- Enhance client retention.
📅 Medium-term
- Expand into broader payments and alternative banking markets.
- Diversify product offering to increase exposure to more visible, stable revenue streams.
- Geographic expansion leveraging existing locations and licenses.
🔭 Long-term
- Become a global financial solution expert.
- Achieve Net Zero (commitment mentioned, no target year specified).
🌱 ESG Focus Areas
SustainabilitySocial Mobility