Climate Change Data

Paysafe Limited

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Environment
  • Social
  • Governance

Environmental Achievements

  • Ethereum's transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) model, aiming for 99% reduction in energy consumption.
  • Cardano's support of a project to plant one million trees.
  • Algorand's grants to environmental data projects like SEA Nexus.
  • HIVE Blockchain's use of hydropower for its data center.

Social Achievements

  • Supporting financial inclusion through cryptocurrencies' accessibility.
  • Supporting numerous decentralized autonomous organizations (DAOs) promoting social impact initiatives (e.g., The Dream DAO).
  • World of Women NFT collection supporting representation and inclusivity.

Governance Achievements

  • Encouraging regular financial reporting practices and appointment of non-executive board members.

Climate Goals & Targets

Environmental Challenges

  • Energy consumption of Proof-of-Work (PoW) crypto mining.
  • Potential for illicit activities and consumer harm due to anonymity of transactions.
  • Data privacy concerns related to blockchain technology.
Mitigation Strategies
  • Transition to Proof-of-Stake (PoS) consensus mechanisms.
  • Increased regulation and compliance with AML legislation.
  • Exploring ways to enhance data protection while promoting innovation.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:3214.8 tCO2e/year
Scope 1 Emissions:74.7 tCO2e/year
Scope 2 Emissions:1,859.6 tCO2e/year
Scope 3 Emissions:1,280.5 tCO2e/year
Total Energy Consumption:6,581,531 KWh/year
Carbon Intensity:2,009.3 tCO2e per 1.6 billion $ revenue

ESG Focus Areas

  • Trusted Technology
  • Engaged Employees
  • Thriving Society
  • Responsible Business Principles

Environmental Achievements

  • 14% reduction in emissions from 2022
  • 19% reduction in total emissions since 2021

Social Achievements

  • Launched first learning academy, employees completed over 78,000 hours of learning
  • Employee engagement score of 75%
  • 35% female representation in senior leadership
  • $155k total charitable contributions (USD)
  • Introduced new features to provide additional protection for vulnerable customers (gambling addiction self-identification and account blocking)
  • Improved customer support, reducing customer service contacts by 20%
  • Launched Paysafe Business Wallet, integrating payment processing and digital wallets

Governance Achievements

  • Established a new sustainability strategy and governance framework
  • 100% of employees completed data privacy and security training
  • No material cyber security incidents in 2023

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Formalise a volunteering programme and establish a baseline
  • Increase the accessibility to financial products and digital solutions for customers
  • Map our carbon footprint and engage with our suppliers/providers
  • Provide a sustainability training module to our Board
  • 95% of compliance training completed
  • Update the E/S criteria in our supply chain management standards
Short-term Goals:
  • Achieve 95% completion rate of mandatory data privacy and security training
  • Extend measuring the NPS to the entire business and establish a baseline
  • Benchmark responsible product offering
  • Maintain employee engagement above 75%
  • Work towards equal representation in leadership roles
  • 100% of core locations and regions to have a wellbeing programme in place

Environmental Challenges

  • Combating money laundering and fraud in the online payment services industry
  • Managing climate-related risks and opportunities
  • Increasing accessibility to financial products and digital solutions for underserved customers
  • Growing requirements for suppliers and partners
Mitigation Strategies
  • Employing various tools to protect against fraud (transaction monitoring systems, due diligence assessments, identity verification)
  • Engaging in a process to identify, understand and assess climate-related risks and opportunities using the TCFD framework
  • Optimizing the user experience for consumer products to improve inclusivity
  • Implementing a risk-based supplier management approach, including sustainability questionnaires

Supply Chain Management

Supplier Audits: 3,253 questionnaires issued including E/S criteria; 100% of new suppliers received a questionnaire containing environmental, social, and governance criteria

Responsible Procurement
  • Paysafe Partner Code
  • Sustainability questionnaire for suppliers
  • Contractual commitments for certain third parties to comply with Paysafe policies

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Regulatory changes
  • Market shifts
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRI, TCFD, SASB

Certifications: ISO22301:2019 (Business Continuity Management System)

Sustainable Products & Innovation

  • Paysafe Business Wallet

Awards & Recognition

  • Highly commended in the Diversity and Inclusion Excellence category at Fintech Futures’ Banking Tech Awards 2022