Measuring performance
We are dedicated to the delivery, operations and governance of payment systems that are innovative, secure and globally connected. Responsible business practices enhance the sustainability of our economy and support those who rely on it.
In 2025, we conducted a greenhouse gas (GHG) inventory to measure our emissions. Our inventory concluded that in 2024, our Scope 1, 2 and 3 GHG emissions were 512.4 tonnes of C02e, made up primarily of corporate travel.
We have over 20 sustainability-related metrics in our sustainability strategy that we track and report on as we work to make our organization more sustainable.
Climate Commitment
As part of our second annual commitment to the Task Force on Climate-related Financial Disclosures (TCFD), Payments Canada continues to take climate action seriously and we are committed to playing our part in the global effort — because it matters to us, our stakeholders and our future.
This information is reported as at December 31, 2024, except as otherwise noted.
Governance
Our framework for guiding climate action from the top down and bottom up, ensuring accountability and strategic oversight.
Board oversight
Payments Canada’s Board of Directors plays an important role in overseeing climate-action initiatives. The Governance and Nominating Committee is a standing committee of the Payments Canada Board of Directors that oversees all sustainability initiatives, reviewing key sustainability risks and opportunities, annually. The Governance and Nominating Committee provides guidance and recommendations to management and the board on sustainability related oversight.
Management’s role
The Executive Leadership team is responsible for assessing, managing and integrating climate considerations across daily operations and strategic planning. The Chief Financial Officer briefs the Governance and Nominating Committee, annually.
The Sustainability Committee integrates key sustainability topics into quarterly meetings to disseminate information, promote sustainability throughout the organization, and elevate important sustainability topics to the Executive Leadership Team.
STANDING COMMITTEE OF THE PAYMENTS CANADA BOARD OF DIRECTORS Governance and Nominating Committee |
EXECUTIVE OWNER OF THE SUSTAINABILITY PROGRAM Chief Financial Officer |
SUPPORTS SUSTAINABILITY EFFORTS AT PAYMENTS CANADA Cross-functional Sustainability Committee |
Strategy
How we take proactive climate-action to drive long-term resilience and value creation.
Climate risk
- Physical risks: Potential operational disruptions from extreme weather, such as power outages or flooding could cause damage to systems or physical infrastructure, supply chain disruptions, critical service provider interruptions or employee health and safety issues.
- Reputational risk: Growing stakeholder pressure for transparent and authentic sustainable practices.
Climate opportunity
- Resource efficiency: Working with our buildings and data centres to optimize energy consumption leading to cost savings and smaller environmental footprint.
- Sustainable solutions: Strategic reduction in business travel to lower emissions and operational costs. Enhancing our brand reputation as a forward-thinking, sustainable partner.
Risk management
Our integrated process for identifying, assessing and managing risks across the enterprise.
Identify
Risk appetite: The amount and type of risk Payments Canada is willing to pursue, retain or accept to achieve its legislative mandate and strategic plan and objectives.
Risk taxonomy: Library of the risk types that are applicable to Payments Canada. This includes operational, financial, strategic, settlement and reputation risks.
Risk assessment process: Approach to identifying risks associated with a significant decision or there is considerable uncertainty involved.
Measure
Risk rating methodology: Framework to ensure consistency in rating risks across the organization.
Action
Risk treatment: A range of options or actions for addressing risk, assessing those options and then preparing and implementing a plan of action. Depending on the type and nature of the risk, there are four risk treatment options: Mitigate, accept, avoid or transfer.
Manage
Risk culture and training: Ongoing approach to embedding common expectations, knowledge, attitudes and understanding about risk within all employees, vendors and consultants of Payments Canada.
Monitoring and reporting: On an ongoing basis, the Enterprise Risk Management team is engaged within the activities completed by the first line to provide oversight and challenge. Risks are reported on throughout the risk management process in varying ways.
2025 key sustainability focus
Payments Canada integrates sustainability into our work through a three-pillar framework of environmental, social and governance (ESG) principles. We execute our sustainability strategy by concentrating on key areas that reflect our most substantial impacts on the economy, the environment and people:
- Environment: Reduce emissions through travel reduction
- Social:
- Sustainable Procurement: Implement Sustainable Procurement Strategic Plan
- Corporate Citizenship: Continued volunteer and fundraising efforts
- Governance:
- Vendor Management: Focus on vendor governance
- Security and Risk Management: Continued emphasis on security and risk management
Metrics and targets
How we measure what matters. Payments Canada has established key performance indicators and goals for a more sustainable future.
Greenhouse gas(GHG) emissions breakdown (2024)
Scope 1 emissions originate from sources directly owned or controlled by the Payments Canada, scope 2 include indirect emissions from energy purchased and consumed in operations owned or controlled by the Payment’s Canada and scope 3 are all other upstream and downstream emissions in our value chain.
Payments Canada does not have any scope 1 or scope 2 emissions. Scope 3 emissions are primarily made up of corporate business travel.
Emission scope | Tonnes of C02E |
|---|---|
Scope 1 | 0 |
Scope 2 | 0 |
Scope 3 | 512.4 |
Total | 512.4 |
Scope 3 breakdown by source
This breaks down our scope 3 emissions, helping us target our reduction efforts effectively.
49.6% Business travel
19.7% Employee commuting
12.5% Data
11.8% Upstream leased assets
6.4% Capital goods