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Payment company Paysafe achieves carbon neutral status

Image by Paysafe from YouTube

Fri, 24 Apr 2020, 04:56 am UTC

Multinational payment company Paysafe has made a major milestone after hitting its carbon neutral status.

Paysafe CEO Philip McHugh has contributed in its success by accelerating its effort toward the goal. Also, the company made extensive data gathering and third-party verification process, Finextra reported.

“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 said about the accreditation.

“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.”

The impact of its carbon footprint for the past two years was offset by financing several sustainability projects in developing countries. Paysafe partnered with Natural Capital Partners, world-leading provider of innovative solutions, to conduct independent assessment and identify suitable projects.

“We are very pleased to work with Paysafe as it meets this important milestone as a carbon neutral business,” said Rebecca Fay, Chief Marketing Officer at Natural Capital Partners. “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 was committed to supporting three sustainability projects – water filtration and improved cookstoves in Guatemala, community reforestation in East Africa, and renewable energy development through wind power in West India.

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