The energy targets by Kindred Group align with the Paris Agreement. With a target set back in 2018, the company plans to source 100% renewable electricity by 2023. Furthermore, the operator revealed its Q3 2020 results which outlined strong revenue growth.
Kindred Plans to Source 100% Renewable Electricity by 2023
Earlier this week, one of the leading online gambling operators, Kindred Group released a statement outlining that the company is aligning its energy targets with the Paris Agreement.
The operator has set a target back in 2018 to source 100% renewable electricity by 2023, where possible. In the most recent statement, Kindred said that it is aligning its energy targets with the Paris Agreement’s goal of limiting temperature rise to below 2°C. The company said that it even plans to further limit this number to below 1.5°C.
“Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered science-based if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement,”Kindred Group
Operating solely online, Kindred aims to reduce 85% of absolute scope 1 and 2 emissions by 2023. The base year which the company chose is 2018. Additionally, the company plans to reduce business travel by 2023 with 30% and it has chosen 2018 as a base year for this target. The company said that the set targets are considered to be “science-based targets” which are in line with IPCC 1.5°C and IPCC 2°C ambition levels.
Cutting Carbon Emissions
Henrik Tjärnström, CEO of Kindred Group said that the company is focused on cutting carbon emissions across its data centers, offices, and business travel activities by setting science-based carbon-reduction targets. He added that the company’s 2023 ambition is to produce 100% of electricity from renewable sources where possible.
“We know that businesses have an important role to play in fighting climate change and we are committed to doing our bit for the planet,”Kindred Group CEO Henrik Tjärnström
Ensuring compliance with the Greenhouse Gas Protocol Corporate Standard, the operator reports annual emissions and their environmental impact through the Carbon Disclosure Project and the annual Sustainability Report.
Kindred Reveals Strong Revenue Growth for Q3, 2020
Kindred revealed its Q3 2020 report which outlined another strong quarter for the company. Gross winnings revenue reached an all-time high of £280 million. This marks a year-on-year growth of 24%.
Furthermore, the company outlined that the sports betting margin after free bets reached 8%. This number marks a decrease when compared to Q3 2019, but the company said that it was “offset by continued strong activity levels across the business“. In addition, Kindred outlined that EBITDA for Q3, 2020 is estimated to be in the range of £73-£75 million.
“The strong revenue growth, combined with Kindred’s prudent management of marketing investments due to COVID-19 and continued focus on other operating costs, are the main factors driving the increase in EBITDA,”Kindred Group
As an industry leader, Kindred Group offers services for over 27 million customers in Europe, the U.S., and Australia. The company offers a safe, fair and sustainable environment across 11 brands. Furthermore, Kindred employs approximately 1,700 people. The company is also listed on Nasdaq Stockholm Large Cap. Moreover, Kindred is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (International Betting Integrity Association).