Mortgage servicing software firm Phoebus has had its emissions reduction plans formally validated by the Science Based Targets initiative.
Phoebus has secured approval from the Science Based Targets initiative following the submission of its emissions reduction plans, marking a significant milestone in the firm’s drive to reach net zero by 2040.
The Solihull-based mortgage servicing software provider, which has been carbon neutral since 2009, is targeting a 100% reduction in Scope 1 and 2 emissions and a 42% cut in Scope 3 emissions by 2030. The targets have been approved and validated by the SBTi as aligned with a 1.5°C pathway, in line with the goals of the Paris Agreement.
The SBTi is a global framework that helps businesses set science-based emissions targets and align their strategies with efforts to limit 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.”
POSITIVE IMPACT REPORT
The figures were published in Phoebus’s Positive Impact Report 2025, which sets out its environmental, social and governance commitments across four pillars – climate, community, people and governance.
The report shows carbon intensity per employee was 7.0 tCO₂e in 2024, consistent with 2021 and significantly below the 2022 peak of 9.9. Total emissions rose as the business expanded, increasing to 839.8 tCO₂e in 2024 from 658.7 in 2023, but remained well below pre-2022 levels.
Phoebus, which employs 125 people, has outlined a series of measures to cut emissions further. These include switching to green energy suppliers in 2025 and removing gas powered heating, or moving to more sustainable premises, by 2028.
The firm has also set a 20% emissions reduction target for purchased goods and services and is developing procurement policies to ensure new suppliers support its net zero objectives.
Langton 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.”
ESG CREDENTIALS AND MARKET DEMAND
Phoebus says its environmental, social and governance approach underpins clients’ own sustainability and governance agendas, particularly in areas such as securitisation where transparency and operational resilience are increasingly in focus.
As more lenders issue socially responsible and green securitisations, Phoebus’s servicing platform and verified ESG credentials are positioned to provide additional assurance for investors and rating agencies.
The adoption of science-based targets has accelerated in recent years as more companies seek credible pathways to net zero and measurable emissions reductions. A recent report by the SBTi found that nine in ten companies report positive business impacts from adopting science-based targets, particularly in strategic cohesion, stakeholder confidence, financial performance and climate impact.
