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 focussing first on aspects of society and governance that are close to home and that they can affect directly: who and how they select, recruit, manage, motivate, and reward the people they 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.
Ambassadors of the project commented that they are delighted to launch Project ESG, championing progressive strategies for those in the payments industry to operate in a sustainable way. They have a packed schedule that will raise awareness of the issue and support companies as they learn and implement new policies and procedures that can ensure they positively impact the environment, society, and governance.
Officials from The Payments Association stated that they seek to drive industry change and one way they do that is by harnessing the collective expertise of their members in the 6 project working groups that they have. They are happy to now add a seventh string to their bow by launching Project ESG. The world is becoming increasingly aware of the importance of embedding sustainable and community-driven practices into business.
The launch of Project ESG marks the beginning of a busy year for The Payments Association, which will also be launching a first project output on ESG in the near future, including an upcoming podcast that one can register for online soon.
The Payments Association (previously the Emerging Payments Association or EPA) is a community for all companies in payments, whatever their size, capability, location, or regulatory status. Its purpose is to empower the most influential community in payments, where the connections, collaboration, and learning shape an industry that works for all. It works closely with industry stakeholders such as the Bank of England, the FCA, HM Treasury, the PSR, Pay.UK, UK Finance, and Innovate Finance.
Through its programme of activities and with guidance from an independent Advisory Board of leading payments CEOs, The Payments Association facilitates the connections and builds the bridges that join the ecosystem together and make it stronger. These activities include a programme of monthly digital and face-to-face events including an annual conference, PAY360, The PAY360 Awards dinner, CEO roundtables, and training activities.
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