ESG
PAGS’ mission is to promote financial democratization in Brazil, a country dominated by a few powerful banking institutions, to which a vast majority of the population do not have access. Nowadays, millions of micro and small entrepreneurs (previously unbanked) and consumers are users of PAGS’ services, which represents a relevant financial inclusion, made in practice and with visible results across the country. PAGS offers everything in a simple, digital, mobile-first and cost-effective solution.
The ESG vocation in PAGS was born centered in our relationship with both merchants and consumers. The company has been generating a great positive impact on society throughout millions of stakeholders. Currently, PAGS has more than 15.8 million active clients and 7.3 active merchants, with 40% of formalization ratio of new entrepreneurs.
Combining innovation and technology, we aim at increasingly sustainable businesses, while promoting diversity and reducing the country’s enormous social inequalities. Our trajectory is based on constant evolution and the creation of shared value with society and our stakeholders.
Sustainability Report 2021
The Sustainability Report 2021 was approved by the ESG Committee which reports to the Board of Directors. The Report is fully aligned with the sustainability standards of the GRI 101: Foundation 2016, and the economic, environmental, social and governance information contained therein refer to the period from January 1 to December 31, 2021.
See also the Sustainability Report 2020:
Recognition and Associations
PagBank received a ESG Risk Rating of 18.7 (Low Risk) and a low ESG Risk Exposure classification from Morningstar Sustainalytics, considering the company to be at low risk of material financial impacts driven by ESG factors. Morningstar Sustainalytics is a high-quality, analytical ESG research, ratings and data provider to institutional investors and companies. Click here to access their company ratings platform.
PagBank is a signatory of the United Nations Global Compact, the largest voluntary corporate sustainability initiative in the world. Click here to access the United Nations Global Compact platform.
PagBank has the Women on Board (WOB) seal, an independent, non-profit initiative that recognizes companies that have at least two women on their Boards of Directors. The company’s Board of Directors* is composed of 50% women. Click here to access the Women on Board (WOB) platform.
*The Board of Directors is linked to PagSeguro Digital Ltd.
PagBank respond to CDP climate change questionnaire since 2022 and have been recognized with a C score, which indicates that the company has a disclosure level of it climate change impacts and are able to taking coordinated actions to address climate issues. Click here to access the CDP platform.
PagBank discloses its GHG Inventory since 2019 on the Public Registry platform of the Brazil GHG Protocol Program and received the Gold Seal recognition for the years 2020 and 2021. Click here to access the Public Registry platform.
PagBank is also a signatory of the WEPs – Women’s Empowerment Principles, a set of principles that provide guidance to companies on how to promote gender equality and the empowerment of women in the labor market and in the community. Established by the UN Global Compact and UN Women, the WEPs are formed by international labor and human rights standards and based on the recognition that companies have an interest and responsibility for gender equality and women’s empowerment. Click here to access the WEPs platform.
GHG Inventory
In terms of the environment and climate change management, PagBank conducted and verified by third-party its first Inventories of Greenhouse Gas Emissions, considering the periods of 2019, 2020, 2021 and 2022. Aiming to become a carbon-neutral company, PagBank offset 100% of its Scopes 1, 2 and 3 emissions for the years 2019, 2020, 2021 and 2022 by purchasing carbon credits from forestry (REED+) and biogas projects. The company is also looking for new ways to reduce and mitigate its climate impacts from year to year.
| Emissions (tCO2e) | ||||
|---|---|---|---|---|
| 2019 | 2020 | 2021 | 2022 | |
| Scope 1 | 111.999 | 174.708 | 307.255 | 328.826 |
| Scope 2 | 468.658 | 191.800 | 470.146 | 130.153 |
| Scope 3 | 2,193.921 | 3,331.706 | 4,447.055 | 8,520.515 |
| Total | 2,774.578 | 3,698.214 | 5,224.456 | 8,979.494 |
| Emission Intensity (per employee) | 1.08 | 0.80 | 0.77 | 1.24 |
ESG Commitee
PAGS has established an ESG Committee, which will report to the Board of Directors, formed by the following professionals of the Company:
| Name | Office |
|---|---|
| Ricardo Dutra da Silva | Chairman |
| Alexandre Magnani | Member |
| Arthur Gaulke Schunck | Member |
| Carol Elizabeth Conway | Member |
| Eric Krahembuhl de Oliveira | Member |
| Fabiana Verdicchio | Member |
| Sadami Ikegari | Member |
| Victoria Rozsavolgyi Bortolin | Member |