Nexi Strengthens Its Commitment To Decarbonization: Zero Emissions By 2040 And Climate Targets By 2030

Nexi, the European PayTech leader, has announced that its group-wide CO2 reduction goals have been approved by the Science Based Target initiative (SBTi). The SBTi is a partnership between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute (WRI) and the Worldwide Fund for Nature (WWF). It urges companies worldwide to half their emissions by 2030 and achieve net zero emissions by 2050.

“The commitment to sustainability and the fight against climate change represents an absolute priority for institutions, wider society, investors, but also for companies like Nexi, who can play an important role in improving the ecosystem in which they operate. In 2021, Nexi committed to achieving net zero greenhouse gas emissions by 2040, ten years ahead of the target established by the Paris Agreement, in the framework of a wider process to integrate ESG targets in its business. Thanks to the transformative actions that will involve our whole value chain, from our facilities and data centers to the use of renewable energy and the mobilization of our suppliers, our business will become more sustainable and environmentally friendly, in the interest of all our stakeholders and with a positive impact on the whole industry,” commented Paolo Bertoluzzo, CEO of Nexi Group.

With the targets approved by the SBTi, Nexi commits to reducing absolute Scope 1 and 2 greenhouse gas emissions – those generated directly by business operations – by 42% by 2030, starting from the 2021 baseline. The Group also commits to increasing its annual electricity supply generated by renewable sources from 51.7% in 2021 to 100% by 2030.

Nexi is also committed to decarbonizing its supply chain by mobilizing its suppliers to adopt CO2 reduction targets. By 2027, this Scope 3 objective will involve two relevant areas of Nexi’s supply chain:

• The procurement of goods and services, with 78% of suppliers involved, based on expenditure.
• The procurement of capital goods, with 70% of suppliers involved, based on their GHG emissions, starting from the 2021 baseline.

Finally, in the long term, the Group is committed to achieving net zero by 2040, reducing absolute Scope 1, 2 and 3 GHG emissions by 90% and using carbon credits to offset the residual emissions.

Among the transformative actions already in place, Italy’s data center optimization project aims to reduce electricity consumption by 21.9% in 2024, compared to 2021, equivalent to about 3.7 million kWh per year. Reducing the energy consumption of the facilities involved and the cooling equipment, as well as a widespread technological modernization, will contribute to achieving this goal.

Nexi Group’s decarbonization project is also in line with the goal of limiting global warming to 1.5°C above pre-industrial levels, according to the 2015 Paris Agreement.