PayPal
At a Glance
Industry
Internet, Software, Hardware and Technology Services
Project Types
Data Analysis, Goals/Targets, Sustainability and Energy Management Strategy
Year
2023
Location
San Jose, CA
Summary
Maria joined the Social Innovation Team, focusing on environmentally sustainable projects that hold strategic significance for the future of PayPal's ESG program and are at the forefront of corporate climate initiatives.
Goals
The fellowship focused on three key priorities:
- Assembling the 2023 Climate Impact Portfolio, by identifying impactful projects to advance Social and Climate Equity, while also investing in carbon removal initiatives to drive Net Zero goals
- Identifying avenues to improve PayPal's environmental data management (EMS) platform
- Contributing to the development of PayPal's Climate Transition Plan
Solutions
- Successfully proposed and secured approval for the 2023 Climate Impact Portfolio, strategically retiring carbon credits from impactful projects in alignment with PayPal’s objectives for supporting climate action and the United Nations SDGs. Notably, this year marks the introduction of carbon removal projects within the portfolio for the first time.
- Assisted in driving the EMS Data Optimization project, to elevate the efficiency and precision of PayPal’s Environmental Management System. This project deliverable included an evaluation of the current state of PayPal data management software systems and identification of alternative platforms for streamlining and consolidating data management activities. The project recommendations, once implemented, will reinforce the integrity of the company’s sustainability reporting process.
- Developed a peer benchmark to bolster the creation of PayPal's Climate Transition Plan, contributing to the establishment of a holistic sustainability strategy. This benchmark will inform PayPal's strategic roadmap for meeting forthcoming reporting obligations and advancing towards the achievement of Science-Based Targets (SBTs) and the net-zero objective.
Potential Impact
The Climate Impact Portfolio will play a role in retiring high-quality carbon credits from the voluntary carbon market equivalent to more than 9,000 metrics tons of CO2 emissions, concurrently benefiting vulnerable communities across the globe. The integration of carbon removal projects emerges as an integral element in PayPal's pursuit of Net Zero objectives and attainment of Science-Based targets.
Additionally, the EMS Data Optimization project will enhance the efficiency and reliability of the company’s environmental data analytics and reporting. This enhancement will aid PayPal in accurately monitoring its progress and goals. Finally, the Climate Transition Plan will enable PayPal to effectively mitigate climate risks and act on opportunities, aligning their strategy with a net-zero future.