Kroo's sustainability projects

Kroo's sustainability projects

18 April 2024 | by Kroo Marketing Team

Here at Kroo, we’re committed to doing our bit for the planet and making sustainable choices. But this work is never over. That’s why we’re focused on working towards meaningful progress rather than chasing perfection.

What we choose to finance shapes the world around us – every penny and pound we spend or invest has a ripple effect throughout our economy. Because of this influence, the financial services industry plays an essential role in building a more sustainable future, and we want to be part of trailblazing this change.

The banking industry has a long road ahead, but as we celebrate Earth Day, we want to highlight the sustainability projects we are currently involved with. Since we launched our current account in December 2022, we’ve pledged to plant two trees for every customer through our partnership with One Tree Planted. This partnership helps us take tangible steps to restore our ecosystems and bolsters biodiversity while giving back to communities.

One Tree Planted in Guatemala

Our support in restoring the southwest coast of Guatemala is ongoing. So far, we've contributed to help increase plant biodiversity and, through our partners, provided training and education to the local communities to help them plant and manage the systems.

Ecological benefits of the overall project:

The transition from slash-and-burn, chemical corn monocultures to biodiverse organic agroforestry systems has been incredibly beneficial for the environment
Improve soil erosion control, increase biodiversity, sequester carbon, provide wildlife habitat, filter water, and improve nutrient cycling
A 325% increase in plant biodiversity, from 4 species per meter square to 11 species per meter square
An increase in organic soil horizons, as well as the overall volume of soil accumulated

Community benefits of the overall project:

  • Training and educating the communities to help them plant and manage the new system
  • The purchase of produce from the communities, paying them a fair price, and shipping the products to their value-added processing centre in Antigua.
  • Three processing equipment setups, including presses/dryers for flour, squeezers for cane juices/kombuchas, and fermenting stations
  • Increased food security for families, nutrition, and a respect for nature, discouraging the use of chemicals empowering locals to continue and expand this regenerative transition themselves

One Tree Planted in Punjab

We've just completed our contribution to this project. The focus was on developing mini forests, parks, and fruit orchards for villages across the state. These projects host various birds and insects, acting as anchors for biodiversity conservation.

Our impact:

  • As a result, these areas act as carbon sinks, improving soil quality, reducing erosion, increasing groundwater, and reducing waterlogging
  • When it comes to the community impact, we support One Tree Planted in working towards enhancing landscapes, providing shade and restoring agricultural land, and providing fruit as food for people, birds and other wildlife

We'll be announcing our next exciting project in partnership with One Tree Planted soon.

In addition to these projects, Kroo’s commitment to TechZero means that we’re measuring and reporting our greenhouse gas emissions and establishing a target date for reaching net zero.

There is so much more potential to contribute to changing the relationship between banking and sustainability. These initiatives are just a start on our sustainability journey, but we think they are something to be proud of.