The Payments Association, an organisation that celebrates innovation and collaboration across payments, has launched Project ESG.
The Payments Association’s seven projects are focused on driving industry change to shape the future of the payments landscape. Project ESG will aim to encourage companies in the payments industry to adopt progressive strategies for how they impact the environment, our society and their governance in a sustainable way.
The new project will be supported by over 20 payments firms that will seek to represent the collective view of The Payments Association and its members at industry-critical moments. This includes board directors and owners to managers and those working on the front line.
This holistic view ranges from banks to new and established FinTechs and payment firms, consultancies, and end users like merchants – as the whole industry must go beyond financial imperatives and address societal issues which matter to their stakeholders.
The Payments Association will deliver programme of activities via Project ESG that would achieve an EEDI-centred (equality, equity, diversity, inclusion) vision for the payments industry.
This includes focusing first on aspects of society and governance that are close to home and that we can affect directly: who and how we select, recruit, manage, motivate and reward the people we employ. Following that it will focus on the environmental aspect of ESG, which will examine how the industry can go further to adopt sustainable financial practices.
Payments Association head of projects Tom Brewin said, “The Payments Association seeks to drive industry change and one way we do that is by harnessing the collective expertise of our members in our 6 project working groups. I’m proud to say we can now add a seventh string to our bow by launching Project ESG.
“The world is becoming increasingly aware of the importance of embedding sustainable and community-driven practices into business. However, the payments industry must continue to recognise ESG as an opportunity for growth and embrace the chance to deliver more for our stakeholders. I have been blown away by the support our members have shown for this initiative and can’t wait to get started.”
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