PayU Reports Major ESG Initiatives In 2023

Demonstrating its commitment to sustainability and social progress, PayU, an online payment solutions provider, unveiled a series of Environmental, Social, and Governance (ESG) initiatives throughout 2023. These strategic endeavours were part of its CSR programme and served to augment the country's social development programmes.  

Among its initiatives, the company released its 'Scaling Sustainable Packaging' report on World Environment Day in collaboration with Prosus. This report tackled India's waste management challenges and presented the '10 Golden Rules for e-commerce and delivery platforms to curtail packaging waste, boost recycling, and drive innovation in regenerative materials.  

PayU India's strides in sustainability, including the adoption of recycled paper products and Green Garbage Bags, yielded a saving of nearly 2 tonnes of plastic waste annually. 

Also, PayU, in partnership with CSC Academy, embarked on a mobile van-driven financial and digital literacy campaign. Designed to reach rural households, this initiative aimed to empower beneficiaries digitally, spanning age groups from 15 to 60, focusing on SC-ST, BPL, differently-abled, and women beneficiaries. 

PayU embraced the D-RECs (Distributed Renewable Energy Certificates) mechanism in a strategic move supporting rural financial inclusion and environmental sustainability. This involved endorsing E-Hands Energy's initiative to provide solar solutions to over 920 rural banks in India, contributing to a low-carbon environment, and fostering financial inclusion. 

Aligning with the Reserve Bank of India's vision of 'Har Payment Digital,' PayU adopted five villages in Uttar Pradesh under the '75 Digital Villages' Programme. This initiative aims to turn these villages into digital payment-enabled hubs, with a yearlong campaign targeting around 5000 villagers aged 15 to 60, focusing on SC/ST, BPL candidates, differently-abled, and women beneficiaries from rural households.