Paysafe (NYSE: PSFE), a leading specialised payments platform, today announces its carbon neutral company status for 2021 and 2022. The milestone forms part of the company’s ongoing commitment to offsetting its unavoidable carbon emissions as part of its environmental programme.
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Paysafe first announced its commitment to carbon neutrality on Earth Day last year, the 50th celebration of the annual global event. The company’s 2020 CarbonNeutral® certification was also backdated to cover its carbon footprint for 2019. With today’s announcement, extending its certification for a further two years, Paysafe has pledged to offset the impact of its carbon footprint by financing sustainability projects in developing countries.
The latest accreditation was achieved following extensive data gathering and independent third-party verification. This included the implementation of new measurements to take account of the impact that the COVID-19 pandemic has had on business practice such as a move to remote working. Paysafe’s 2021/2022 CarbonNeutral certification, therefore, factors in a ‘home office carbon footprint’ calculation for every employee and move to more of a hybrid working model by 2022.
Paysafe worked with carbon finance and carbon neutral experts, Natural Capital Partners, to conduct the independent assessment and identify suitable sustainability projects. The projects that Paysafe has committed to are Community Reforestation, East Africa; the Acre Amazonian Rainforest REDD+ portfolio, Brazil and Sindh Wind Power in Pakistan.
Philip McHugh, CEO at Paysafe, said, “Like many other companies, the pandemic has had a dramatic impact on our carbon footprint, however the return to physical office locations and international travel will happen in time and we can expect to see carbon emissions rise again. Meanwhile, we will continue to capture data based on home working carbon emissions and offset that as part of our pledge to sustainability. Bottom line, we are committed to supporting ongoing carbon reduction in the long-term and our environmental programme forms a central part of our approach to corporate responsibility and our commitment to doing business the right way.”
Rebecca Fay, Chief Marketing Officer at Natural Capital Partners, added: “We are very pleased to support Paysafe in the achievements of its environment programme as it commits to four years as a carbon neutral business. Even after what the world has experienced over the past year, the need for climate action has not changed. Carbon neutrality is a critical step to achieving the global transformation of our economy and should be a priority for businesses everywhere. It’s great to see international companies like Paysafe making and meeting commitments to being environmentally responsible.”
In addition to carbon offsetting, Paysafe has also embarked on a number of employee engagement initiatives including sharing sustainability tips for the home and providing plant-based cookery courses.
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PFSE) (PSFE.WS) 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, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of US $92 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 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. Further information is available 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.