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Sustainability

Download 2021 Sustainability ReportOpens in new window

Working with 58,186 merchants across Australia, we are driven by our mission to set businesses free to get on with business by simplifying their payments and banking. We do this by delivering our solutions in a manner that aims to create a sustainable future for all our stakeholders. This includes our shareholders, our people, our merchants, the community in which we operate, our suppliers and business partners and regulatory bodies.

FY21 has demonstrated how resilient we are as a Company as we faced some of the greatest challenges in our eighteen (18) year history. The COVID-19 pandemic has continued to significantly impact our merchants and their ambitions. These social and environmental issues have impacted all of our lives and livelihoods. We also experienced a major terminal connectivity issue in January 2021 that impacted some of our merchants. Through the tremendous efforts of our 500 team members, we managed to restore the operations of affected merchants. We have emerged stronger, more competitive and a more efficient company.

We are committed to living by our Company values in all we do. We are driven to provide the best possible service to our merchants. We endeavour to be open and transparent and do the right thing. We want to think big, move fast and dare to be different. The team is passionate to make a difference for our customers and partners, and to work as a team.

While the words of our Company Values are not new, FY21 has clearly demonstrated that we have to live by our values every day. Our merchants use our technology, resources and capabilities to drive their businesses and ambitions — and we need to be there to support their growth.

Sustainability is not only about our relationship with our merchants - it is also about our responsibility to the environment, social issues, equity, engagement with the community, good governance and ethical standards. During FY21, Tyro has undertaken a detailed assessment of our material sustainability risks and the impact of these risks on our business in the short to mid-term. This assessment included quantifying our current carbon footprint and setting a goal of achieving ‘Net-Zero’ carbon emissions in the next 4 years, re-affirming our diversity and inclusion targets and extending our commitment to the communities where we work.

Sustainability is also about effective risk management. We continue to develop and strengthen our governance frameworks and risk management practices to ensure we are meeting the expectations of our stakeholders and meeting all our regulatory requirements. As an authorised deposit taking institution (ADI), we are accountable under the Banking Executive Accountability Regime (BEAR) framework as well as the regulations maintained by the Australian Prudential Regulation Authority (APRA).
This is our first sustainability report. It outlines our objectives across a range of measures for FY21. This includes details on a number of initiatives underway across the business.

We have enhanced our sustainability reporting disclosures this year by reporting with reference to internationally recognised sustainability standards.

Tyro has always been committed to a sustainable business model and our 2021 sustainability report provides an update on our progress. We still have much to do, however we are committed to creating value and building a sustainable future for our merchants, team members, shareholders, and the broader community in which we operate.

Tyro's Sustainability Priorities

This report provides a comprehensive overview of Tyro's approach to Sustainability going forward following the adoption of our new Sustainability Framework in FY21. In summary, the priority sustainability targets that Tyro is seeking to achieve under our new Sustainability Framework is as follows:

PRIORITY TARGET DESCRIPTION TARGET DATE ESG CATEGORY
Gender balance - whole of organisation Achieve a gender balance of 40/40/20 representing 40% of our workforce made up of women, 40% of men and 20% non-binary (refer to Page 17 of this Report) 30 June 2023 Social
Gender balance - Board representation Achieve a gender balance of 30% for Directors of each gender (refer to Page 17 of this Report) 30 June 2022 Social
Employer of choice Rated in the Top 20 best places to work in Australia (refer to Page 16 of this Report) 30 June 2024 Social
Employee engagement Achieve an overall employee engagement score of 80% and above (refer to Page 16 of this Report) 30 June 2023 Social
Customer satisfaction Achieve the highest Net Promoter Score amongst payment providers in Australia (refer to Page 23 of this Report) 30 June 2022 Social
Net Zero Achieve a 'Net Zero' accredited status for our environmental footprint (refer to Page 28 of this Report) 30 June 2025 Environmental