Hong Kong fintech start-up Sleek has become the first provider of carbon-neutral corporate services in the Asia-Pacific region with its new sustainability initiative that tackles carbon emissions.
Hong Kong’s corporate services industry has long been known to be traditional and paper-based. On average, 130,000 businesses are incorporated in Hong Kong every year. From document printing to signing, the resources needed for these services produce over 2,081 tons of CO2 waste – the equivalent of the carbon emission generated by 455 passenger cars driven for one year. As an innovator and disruptor in the industry, Sleek is challenging the norm by leading a “green” and paperless revolution.
Since November 2020, Sleek has been financing mangrove reforestation projects in East Java, Indonesia to compensate for the carbon emissions associated with the company’s services. In coordination with Handprint, a sustainability software startup in Singapore, these conservation projects are set to absorb the company’s monthly carbon footprint. The projects are managed by teams of experienced local conservationists and volunteers in the community, an intentional effort to create a positive impact on both the environment and the local economy. With 2,068 trees planted thus far, the mangroves will grow and absorb over 400 tons of CO2 in the next 20 years.
“As a digital-first company, we believe in using the power of technology to make the lives of our customers easier; however, we have a responsibility to ensure that our present actions have a positive effect on our environment and for future generations to come,” states Co-Founder and CEO, Julien Labruyere. “By 2030, we foresee Sleek to be the first carbon-positive corporate service firm in Asia-Pacific and we hope to see more companies join this green revolution,” he continues.
Sleek believes the excessive wastage and environmental repercussions in the industry can be minimized through digitization. Its cloud-based solution and AI-driven customer platform already make it five times more efficient than traditional providers with significantly less paper wastage. Meanwhile, SleekSign, a self-developed digital signature tool, has been used over 200,000 times since its release in 2020, saving over 16.4 tons of CO2 on paper and ink consumption. With this new initiative, the company is truly becoming the first corporate services provider in the APAC region to be the leader in such sustainability efforts.
In 2021, Sleek will continue to focus on delivering high-quality services to over 3,500 companies in Hong Kong and Singapore, and develop new digital tools to lead and accelerate the sustainability movement in the industry.