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Briefing paper

Payments for net zero: how the payments industry can contribute to the transition to a net zero economy

Climate change adaptation Carbon emissions Business England

Countries and regions around the world (including the UK and EU) have adopted regulations committing to net zero emissions by 2050 amid a growing body of evidence indicating that failure to do so will lock the world into the accelerating and irreversible impacts of climate change. The transition to net-zero will require far-reaching social, economic, regulatory and technological system changes. The payments industry has adapted to enable large-scale socio-economic changes in the past. But what will its role be in this significant transition?

This report - underpinned by 15 stakeholder interviews and existing research – explores this question and highlights opportunities offered to the payments industry in the transition to a net-zero economy.

The research highlighted enthusiasm for payments networks playing a leading role in the transition. This included leveraging core products and services, as well as alternative assets such as brand trust and data. Citizens can play a key role and evidence suggests they are willing to play their role, provided the solutions are affordable and convenient.

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