Setting Science-based Targets for PayPal

The Situation

Achieving climate stability is critical to PayPal’s mission of financial health and inclusion for all people. According to their materiality assessment, climate change mitigation is among the top ESG priorities for PayPal and its external stakeholders. As such, the company took steps towards managing its own emissions and set a goal to power its data centres with 100% renewable energy by 2023.

Additionally, to advance on its overall climate mitigation strategy, PayPal pledged to develop ambitious science-based targets (SBTs) in line with the objective of limiting temperature rise to no more than 1.5 degrees Celsius. SBTs represent a robust commitment to profoundly reduce the climate-related impact of PayPal’s operations and value chain activities.

Solutions

Impact

PayPal committed to reducing scope 1 and 2 emissions by 25%, scope 3 emissions (FERA) by 25%, and ensuring 75% of suppliers have SBTs by 2025. Pledged to achieve net zero emissions before 2040 to position PayPal as a climate leader in the financial services sector.

  • Company: Paypal
  • Sector: Technology

Our Solutions

Anthesis guided PayPal through the entire science-based target development journey from creating a complete inventory of its value chain baseline emissions, internal stakeholder engagement, emission reduction identification and strategy, through to SBTi validation.

Key services included:

  • Provided engagement and education of internal working groups and leaders.
  • Conducted value chain screening and baseline emissions inventory.
  • Modelled emissions pathways and proposed reduction strategies, including plans to update the inventory in subsequent years.
  • Prepared summaries, data visualization models, and communication support for internal engagement.
  • Supported the Science-Based Targets Initiative (SBTi) submission and target validation process.
  • Continuing to provide support in the development and implementation of PayPal’s vendor engagement program and monitoring annual progress against set targets.
Explore our SBT Solutions

The Anthesis Team’s deep expertise in corporate greenhouse gas management and goal-setting has been incredibly valuable to advancing our science-based climate actions.”

Jaxon Love – Global Environmental Sustainability Lead, PayPal

Impacts of the Project

Anthesis Arrow

Ambitious SBT targets

PayPal has signalled a deep commitment to mitigating its climate impacts by setting ambitious SBTs aligned with a 1.5°C reduction pathway positioning the organisation as a climate leader in the financial services sector.

From a 2019 base year, PayPal commits to:

  • Reducing its scope 1 and 2 emissions by 25% by 2025.
  • Reducing its scope 3 emissions from fuel and energy-related activities (FERA) by 25% by 2025.
  • 75% of its suppliers by spend covering purchased goods and services, capital goods, business travel, upstream transportation and distribution will have science-based targets by 2025.
Anthesis Arrow

Net Zero pledge

In addition to these SBTs, PayPal has further augmented its commitment by pledging to achieve net zero emissions before 2040.

Wind Turbine

Explore our SBT Services

Discover how Anthesis can support your sustainability ambitions.

Science Based Target services

Get in touch

We’d love to hear from you

We are the world’s leading purpose driven, digitally enabled, science-based activator. And always welcome inquiries and partnerships to drive positive change together.

Loading…

Other Case Studies

close up of young tea leaves
case study
Validating SBTi Net Zero Targets for LIPTON Teas & Infusions

The Situation LIPTON Teas and Infusions is the world’s largest tea business, with world-class brands that are household names such as Lipton, Pukka, TAZO, T2 and PG Tips. The company has production sites in four continents and a presence in more than 100 countries. Anthesis Group was engaged to complete a GHG inventory, and support…

river water green nature
case study
Collaborating on the Updated 2024 SBTN Guidance

The Situation The Science-Based Targets Network (SBTN) was looking to revise its technical guidance for setting corporate nature targets. SBTN chose Anthesis to act as lead facilitator of a working group aimed at providing improved technical guidance to support companies in estimating nature-related impacts of key commodities. Following an informative pilot program, the Science-Based Targets…

Clothes on hangers
case study
Setting Science Based Targets and Decarbonisation Roadmap for New Look

The Situation New Look, a British global fashion retailer, had the ambition of setting a Science Based Target (SBT), and required support to ensure its GHG inventory was aligned to SBT standards as well as conducting a material specific Purchased Goods & Services assessment for its fibre products. Following this, a decarbonisation roadmap of what…

Electricity
case study
Setting Science-based Targets for SSEN Distribution

The Situation Scottish and Southern Electricity Networks (SSEN) is a District Network Operator (DNO) that distributes power to 3.7 million homes across the UK. SSEN is responsible for maintaining the power networks to ensure the homes it serves receive an uninterrupted supply of energy. The company commissioned Anthesis to carry out a review of its…

Wind Turbine
case study
Setting Science-based Targets for PayPal

The Situation Achieving climate stability is critical to PayPal’s mission of financial health and inclusion for all people. According to their materiality assessment, climate change mitigation is among the top ESG priorities for PayPal and its external stakeholders. As such, the company took steps towards managing its own emissions and set a goal to power…

Buildings
case study
Setting Science-based Targets Across Hg’s Portfolio

The Situation In 2021, the Science-Based Target Initiative (SBTi) launched new Guidance for the private equity sector to enable the wide adoption of science-based targets (SBT) by private equity firms. The Guidance was authored by the SBTi and Anthesis, supported by an advisory group made up of 32 leading private equity firms. Hg, a leading software and services…

Fresh food
case study
Developing Scope 3 Science-based Targets for Target

The Situation Building on its operational scope 1 and 2 emissions reduction goals, Target needed to develop its first full scope 3 emissions inventory, evaluate and then set a science-based target (SBT) to fulfil the requirements of its SBTi commitment. Anthesis was selected as the consulting partner to guide Target through this process leading to an industry…

Notebook
case study
Setting Net Zero Goals for Ecolab

The Situation To enhance its leadership position amongst its peers and with its customers, Ecolab wanted to develop a suite of climate commitments that built upon its strong track record of achieving operational emissions reductions alongside its other environmental and customer facing sustainability goals.​ To this end, Anthesis has supported Ecolab’s sustainability team for over…

blue circuit board
case study
Developing Science-based Targets for Equinix

The Situation Equinix is the world’s digital infrastructure company, operating 200+ data centres across the globe and providing interconnections to all the key clouds and networks that businesses need to scale their digital transformations. Equinix has a strong history of sustainability and was the first data centre company to set a 100% renewable energy goal…

construction of a building
case study
Setting Net Zero Targets for Henry Boot PLC

The Situation Henry Boot PLC developed a strategy framework to achieve net zero carbon for all direct greenhouse gas emissions by 2030. With a group of approximately 500 employees, Henry Boot has been operating in land, property, and development for 135 years. The net zero carbon framework is a critical element in the first phase of Henry…

1 10