EML Payments change for good initiative has a goal to eliminate 25 million pieces of plastic from the FinTech arena

EML Payments announced today that it plans to cut its plastic consumption by the weight of 56 elephants, 10 humpback whales, 1,250 lions, and the height of 5,000 giraffes across its global portfolio by 2023 through their change for good initiative.

EML Payments wrote that their initiative will play a crucial role in its strategic blueprint for the evolution of sustainable digital, mobile, and virtual payments.

Tom Cregan, EML’s Managing Director and Group CEO commented on why the company was keen to bring the change for good initiative to life by saying: “Our passion for social purpose is anchored in taking a big issues approach which aligns perfectly with our culture’s desire to inspire change at local and global levels. Social impact is just as much a priority as business impact. At the end of the day, reducing plastic is the right thing to do, people expect us to do it and as an employer, people are attracted to great companies that care about the future of our planet as much as the future of payments.”

The World Economic Forum revealed in a January 2020 article that there are as many as eight million metric tonnes of plastic waste reaching the planet’s oceans each year while 9% of all plastic ever made has been recycled.

Companies are increasingly being pressured to cut plastic consumption due to the effects it has on the planet and there are businesses that include EcoVision lab who are adopting AI to protect the environment while others are employing robots to clear up plastic waste.

EML Payments claim to power ‘many’ of the world’s top brands and process over $18bn in GDV each year in 28 countries across the globe with its payment solutions available in 25 currencies.

EML Payments claimed that through its planned removal of 25 million pieces of plastic from Financial Technology through their change for good initiative will give it’s customers a wider selection of the latest alternative eco-solution payment options.

The EML Payments change for good initiative has four core pillars which are labelled as Ethical Business Practices, Environment and Sustainability, Volunteering Culture, and Philanthropic Partnerships with each one having a different aim towards reaching their 2023 goal.

Kristen Shaw, Group Chief People and Culture Officer at EML Payments commented on how the company is implementing the change for good initiative across the entire business by saying: “Accomplishing an industry-leading reduction in the impact on the environment will speak volumes about our courage in reshaping FinTech’s eco future from the inside out. Remaining true to our values on this journey, the global team is focused on leading by example with this achievable social thrive and behavioural change movement. We ensure our ethical suppliers have environmental certifications and memberships in place. So, across the board, we are adopting change for good.”

As part of EML Payments change for good initiative, the company has partnered with One Tree Planted, a nonprofit whose goal is to get more trees planted and support global reforestation efforts, and to date have planted 447 trees which is one for every person on the EML Payments team.