Sunrate sets down roots for sustainable fintech

The Earth is warming. We all know it, and the effects of climate change are becoming increasingly undeniable, from more frequent and intense natural disasters to rising sea levels and biodiversity loss.

The urgency of climate action has never been greater, and the call for businesses to play their part in building a more sustainable future is growing louder by the day.

One company that’s answering this call is Sunrate, an intelligent global payment and treasury management platform headquartered in Singapore that operates globally.

The Sunrate team participating in the Plant-A-Tree Programme / Photo credit: Sunrate

“Climate change has become a climate crisis, period,” asserts Sunrate co-founder Paul Meng.“There are studies that show the direct and indirect links between B2B trade and deforestation. As Sunrate is a leading global B2B payment platform, it is our responsibility to minimize our environmental footprint, and if possible, that of our key stakeholders’.”

To that end, Sunrate is moving towards sustainability, with its Payments Across Greener Borders campaign at the forefront. This initiative aims to create a more sustainable future for fintech, with a focus on reforestation – a key strategy for combating climate change.

Prioritizing sustainability

For Sunrate, this responsibility to reduce its environmental impact is not just a moral imperative. It also enables the company to stand out in the increasingly crowded fintech space.

“Many businesses prefer to partner with and invest in companies that share their environmental values and demonstrate a commitment to sustainability,” Meng explains. “By positioning ourselves this way, Sunrate can attract environmentally conscious businesses, potentially expanding our customer base and strengthening stakeholders’ relationships.”

Climate change has become a climate crisis, period. There are studies that show the direct and indirect links between B2B trade and deforestation.

Beyond the effects on Sunrate’s business, Meng highlights the definite link between climate change and the company’s operations.

“Climate change and environmental degradation pose risks to business operations, including supply chain disruptions and increased operational costs,” he says. “By integrating sustainability into our business strategies, we enhance resilience to these risks, ensuring long-term business continuity and stability.”

Going green

Sunrate’s journey towards sustainability began with the launch of its Payments Across Greener Borders campaign.

“We all agreed that we should not let this be a ‘fluffy’ campaign. We want to do things that have a direct impact on the environment,” says Meng. “Eventually, we decided that reforestation will be our main thrust, supported by changes in our business operations.”

According to Meng, the Sunrate team found scientific studies highlighting the importance of tree cover to prevent extreme temperature fluctuations that would harm the ecosystem. Expanding a forest’s canopy – achieved by planting more trees – helps create tree cover. This cemented the team’s decision to focus on reforestation.

Sunrate co-founder Paul Meng at a tree planting event organized by the company under the Plant-A-Tree Programme / Photo credit: Sunrate

This commitment led to Sunrate joining Mastercard’s Priceless Planet Coalition, an initiative that aims to plant 100 million trees globally.

“The Priceless Planet Coalition works by uniting companies, communities, and consumers in collective, coordinated climate action,” shares Sandeep Malhotra, executive vice president of products and innovation for Asia Pacific at Mastercard.

“By pooling resources, it’s possible to rapidly scale forest restoration work and environmental initiatives while providing forward-thinking companies like Sunrate with pre-existing infrastructure that easily – and cost-effectively – allows them to have a tangible impact,” he adds.

“It is this connectivity that makes the Priceless Planet Coalition different and more effective,” Malhotra says.

Not just reforestation

Sunrate’s commitment to a greener future goes beyond the Priceless Planet Coalition. It has also partnered with the Garden City Fund (GCF), a registered charity in Singapore set up by the National Parks Board (NParks).

GCF aims to optimize the city-state’s green spaces, support the urban biodiversity conservation model, and enhance the competencies of the landscape industry.

“With our global business headquarters in Singapore, we believe that it makes a lot of sense for our campaign to be anchored here as well,” explains Meng. “From a credibility perspective, we chose to support the GCF because it is a registered charity and was established in 2002 by NParks under its founding patron, former prime minister Lee Kuan Yew.”

Sunrate participated in GCF’s Plant-A-Tree Programme / Photo credit: Sunrate

“Most importantly, 100% of donations raised go towards projects that GCF supports,” he adds.

As part of the partnership, Sunrate donated to the GCF and participated in its Plant-A-Tree Programme, organizing a private planting of 50 or more trees for its employees.

“This was an incredible bonding experience for the team, doing something meaningful for our environment as one Sunrate,” says Meng. “We will be looking to do more of such activities globally, especially in emerging Asia.”

To solidify its commitment, Sunrate has also made concrete changes to its business processes. The company has transitioned to eco-friendly corporate gifts and near-field communication (NFC) name cards that enable employees to share contact information with someone’s device via a single tap, for example.

Sunrate’s NFC namecards / Photo credit: Sunrate

“These are customer-facing and would impact many stakeholders at one go,” says Meng. “Hopefully, others will follow suit and add them to their initiatives and campaigns.”

Creating a climate-conscious community

Looking ahead, Sunrate is committed to playing a leading role in building a more sustainable fintech community. It plans to achieve this by integrating green practices into its operations and fostering broader environmental stewardship, such as through participating in similar tree planting initiatives throughout the region.

Meng also hopes to encourage other fintech companies and key stakeholders to make the same commitment. The firm is open to collaborating with other fintech companies, industry associations, and government bodies to drive collective action on sustainability.

“We know that Sunrate alone can’t move the needle by much. But through partnerships, sharing best practices, and even advocating for policy changes that support sustainability, we can amplify our impact and contribute to building a greener fintech community globally,” he says.

Sunrate empowers businesses to operate and scale seamlessly with its cutting-edge proprietary platform, extensive global network, and robust APIs.

Visit Sunrate’s website to discover how its innovative solutions can help you achieve your global ambitions.

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This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.