As more clients and investors prioritise environmental, social, and governance (ESG) criteria, businesses need to prioritise the right initiatives and implement the correct processes to meet this demand. At MillTechFX, we believe that strong governance in areas such as regulatory compliance, transparency, and implementation of industry best practices should be at the heart of any business seeking to be a good corporate citizen.
We're proud to support the Pacajai REDD+ Project in Brazil, which aims to prevent unplanned deforestation in native forests and avoid the net emission of 264,116 tCO2e over a period of 40 years. This project is closely monitored and involves the local community and settlers, who receive extensive training in forest management techniques. The Project has earned certification from Verra's prestigious Climate, Community & Biodiversity (CCB) standard, attesting to its strong positive social, environmental, and economic impacts.
At MillTechFX, we're deeply committed to our own ESG responsibilities and reducing our carbon footprint. We ensure that our business practices align with internationally recognised standards such as the Principles for Responsible Investment (PRI). In 2021, we focused on reducing emissions from our group-wide technology. We offset 60.45 tonnes of carbon dioxide for our remaining emissions, a significant milestone in achieving our longer-term goal of cutting our group-wide carbon footprint by 30% between 2021 and 2024.
As a pioneer in FX-as-a-Service (FXaaS), MillTechFX offers pension funds, fund managers, and corporates access to multi-bank FX rates through an independent marketplace. Our end-to-end solution automates FX workflows and ensures transparent best execution, saving clients time and costs. We use a fixed-fee service model that includes third-party transaction cost analysis to guarantee complete transparency.