There is very little regulation or standardisation of carbon emissions measurements across the payments industry. This means any emissions reductions made as a result of these measurements lack credibility.
The Payments Association’s ESG Working Group identified the need for a standardised framework that firms throughout the payments industry can use to measure their carbon emissions data in a meaningful and reliable way.
The team will be launching a new report that explores:
The report will draw on the expertise of players from across the payments industry, including case studies and contributions from notable TPA members.
“The ESG Working Group aims to drive meaningful change across the payments industry to improve the environmental, social, and governance aspects of payments. It is a collaborative effort that aims to nurture innovation and environmental responsibility, ensuring sustainability and ethical practices become core to our industry’s future. We aim to develop the tools that help organisations adopt ESG in an educated, low-cost and impactful way.”
The group developed an ESG Toolkit whose goal is to provide a living and breathing library of helpful resources that support companies in adopting sustainable and progressive strategies.
The toolkit brings together articles, podcasts, videos, reports and whitepapers published by The Payments Association in collaboration with the ESG Working Group.
It also features curated third party resources from trusted sources geared at helping payments businesses on thier ESG journey.
The Payments Association ESG Working Group is currently researching the development of an industry standard framework for measuring the carbon impact of payments transactions.
The vision for a standard framework is driven by the fact that organisations in the Payments space are increasingly concerned with measuring and managing their carbon footprint. While several, mostly large, organisations have already carried out in-house research, SMEs, potentially lacking resource, may have the desire but not the means.
The ESG Working Group believes that it is in the industry’s interest to have a ratified set of guidelines which could facilitate consistency, promote collaboration, and drive sustainable innovation.
The fintech industry has always been forward-thinking, but when it comes to ESG, it’s clear that we are behind.
ESG policies are vital for companies wanting to reduce their carbon footprint and protect the environment. They are also imperative to meet customer needs and achieve any long-term business goals as these issues related to climate change only become more pressing.
The time to act on ESG policies is now, they can no longer wither behind purely short-term and profit-led initiatives.
The ESG Working Group is constantly striving to contribute towards creating materials that promote ESG within the industry. These resources are intended to help you introduce and implement your ESG strategy, with insights from The Payments Association member companies. Together, we can make a difference.
In our latest episode of the Insights Podcast, Charlie Bronks, Crown Agents Bank, and Karine Martinez, Edenred, talk successful ESG policies, greenwashing and what effective green action really means.
Previously, Tony Craddock sat down with Steve Round, chair of the Ecology Building Society and co-founder of SaaScada, who delved into how integrating ESG factors can redefine the financial services industry. He discussed the unique challenges and opportunities facing legacy banks and fintechs in making genuinely inclusive financial products that cater to all income levels.
The Payments Association
St Clement’s House
27 Clements Lane
London EC4N 7AE
© Copyright 2024 The Payments Association. All Rights Reserved. The Payments Association is the trading name of Emerging Payments Ventures Limited.
Emerging Ventures Limited t/a The Payments Association; Registered in England and Wales, Company Number 06672728; VAT no. 938829859; Registered office address St. Clement’s House, 27 Clements Lane, London, England, EC4N 7AE.
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
