Paysafe Achieves CarbonNeutral® Company Status
As Earth Day celebrates its 50th anniversary¹, Paysafe, a leading specialized payments platform, has marked the day by announcing its recently achieved carbon neutral company status. The milestone forms part of its ongoing commitment to the environment, a key program within its overall corporate responsibility approach, which was accelerated last year when CEO, Philip McHugh, joined the business.
Paysafe’s carbon neutral certification has been backdated to cover its carbon footprint in 2019 as well as 2020 and was achieved following an extensive data gathering and third-party verification process. The impact of its carbon footprint for the two years was then offset by financing several sustainability projects in developing countries. To conduct the independent assessment and identify suitable projects, Paysafe partnered with Natural Capital Partners, a leader in this field and partner to multiple blue-chip organizations including Microsoft and Sky.
The three sustainability projects that Paysafe has committed to are water filtration and improved cookstoves in Guatemala; community reforestation in East Africa; and renewable energy development through wind power in West India.
In addition to supporting carbon offsetting projects in developing countries, Paysafe is also working with employee ambassadors to identify ongoing initiatives to reduce and offset its carbon footprint in addition to the emissions reduction generated by the overnight curtailment of business travel as a result of the current COVID-19 crisis.
Commenting on the accreditation, Philip McHugh, CEO at Paysafe, said, “Achieving carbon neutrality was a critical milestone for us and part of our environmental program, as well as our holistic approach to corporate responsibility and doing business the right way. We set out to achieve this milestone several months ago and I’m very proud to be announcing it today on Earth Day as people around the world discuss the importance of climate action.
McHugh added: “In light of the current COVID-19 crisis, like many other international organizations, our carbon footprint has dramatically reduced overnight. However, we will still offset at the higher 2020 carbon footprint level which we committed to ahead of the lockdown. It’s the right thing to do and it’s only a matter of time before international movement starts again. We have to consider the long-term perspective of the world we live in.”
Rebecca Fay, Chief Marketing Officer at Natural Capital Partners, added: “We are very pleased to work with Paysafe as it meets this important milestone as a carbon neutral business. While the pandemic is rightly dominating everyone’s thoughts, the need for climate action has not diminished. We hope that other companies will follow the example set by businesses like Paysafe to be environmentally responsible and contribute to the transformation of a low carbon economy.”
Paysafe Group (Paysafe) is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions.
With over 20 years of online payment experience, an annualised transactional volume of over US $85 billion, and approximately 3,000 employees located in 12+ global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.
Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.
Visit us at www.paysafe.com.
About Natural Capital Partners
With more than 300 clients in 34 countries, including Microsoft, MetLife, Logitech, PwC, Sky and Ørsted, Natural Capital Partners is harnessing the power of business to create a more sustainable world. Through a global network of projects, the company delivers the highest quality solutions which make real change possible: reducing carbon emissions, generating renewable energy, building resilience in supply chains, conserving and restoring forests and biodiversity, and improving health and livelihoods.
Natural Capital Partners was founded in 1997 and has teams in the US, Europe and Central America. It has been recognised as Environmental Finance Best Offset Retailer for the past nine years.
The CarbonNeutral Protocol was created and is managed by Natural Capital Partners. It was the first clear set of guidelines for businesses to achieve carbon neutrality back in 2002, and every year since then Natural Capital Partners has continued its commitment to providing a robust framework for clear, transparent and high-quality carbon neutral action. The Protocol is updated annually with input from an Advisory Council of external experts to ensure it reflects the latest industry and scientific best practice.
¹About Earth Day 2020
The theme for Earth Day 2020 is climate action. The enormous challenge — but also the vast opportunities — of action on climate change have distinguished the issue as the most pressing topic for the 50th anniversary.
Climate change represents the biggest challenge to the future of humanity and the life-support systems that make our world habitable.
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