PayPal – Jordan Faires – 2020
Goals
PayPal, a leading technology platform and digital payments company, enlisted EDF Climate Corps Fellow Jordan Faires to help develop an ambitious climate change strategy. While PayPal had committed to setting a Science-Based Target, it sought to better understand costs and benefits of emissions reduction strategies, how a climate strategy could engage customers in emissions reductions, and opportunities for robust sustainability disclosures.
Solutions
Faires worked in three areas to further develop PayPal’s climate strategy:
- Faires collaborated with teams across PayPal to make the business case for a Science-Based Target. In particular, he developed renewable energy procurement strategies for PayPal’s global real estate portfolio and assessed suppliers’ science-based climate goals in PayPal’s value chain.
- Second, Faires helped identify opportunities for customer engagement in PayPal’s climate strategy. He led academic research and a series of user experience research interviews to inform the future development of a climate-friendly product.
- Finally, Faires helped strengthen PayPal’s sustainability disclosure program. He supported the development of PayPal’s investor-facing CDP Climate Change questionnaire and developed a proposal for PayPal to begin ESG data assurance.
Impact
Through this work, Faires helped the PayPal team develop plans to effectively implement a Science-Based Target and climate strategy that aligns with PayPal’s mission of financial inclusion. He showed that emissions reduction activities are achievable and financially viable, and that PayPal can integrate climate action more deeply into its engagement with customers. Finally, improved sustainability disclosures will help PayPal more effectively communicate progress and success on climate change with stakeholders and investors.
