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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.