How Planet Works and Early Integration
Payment platform company Adyen works with several major brands and business types too as a way to offload payment processing responsibility and to ensure smooth checkouts. Planet is how the company can integrate environmental responsibility directly into that platform. Upon the checkout process, after making a purchase from an online business, Adyen allows the customer to offset the carbon of the purchase through a small additional fee.
The fee is determined through the use of a greenhouse gas emissions calculator developed in partnership with carbon finance company South Pole. The emissions calculator takes into account both the actual production of the item as well as the carbon cost of transportation. 100% of the money collected from the checkout emissions fee is then donated to projects certified by the International Carbon Reduction and Offset Alliance.
Planet has already been adopted by several different business types. Health supermarket chain Kazidomi was the first company to activate the feature.
When commenting on the new feature from Adyen, Kazidomi Head of Technology Oliver Vangest said, “We choose to partner with businesses that maintain a forward-thinking approach to sustainability, as we are a frontrunner in sustainable consumerism. Innovating over shared beliefs, like we did when integrating Planet, is illustrative of how we like to work. We are excited to have added Planet to the frictionless payment experience we were already offering our shoppers via Adyen's single platform.”
Adyen’s Own Carbon Neutrality Efforts
While the company allows consumers to take accountability for their own carbon emissions, Adyen has also made significant strides over the past few years in regard to its own sustainability. In fact, the business is now 100% climate neutral. Adyen achieved this feat by first auditing all emissions caused by the company since its founding in 2006 and retroactively offsetting it through carbon credits that directly support environmental projects.
These projects include tree planting efforts in Brazil, generating solar energy in Chile, sustainable waste treatment in Vietnam, and funding wind energy in India. These initiatives by the business not only cover direct emissions from operations and materials consumed by the company, but also indirect emissions from air travel, hotel stays, and more.
When commenting on Planet, Adyen CFO Ingo Uytdehaage said, “Taking responsibility for our environmental footprint is part of our license to operate in today's society. To go further than that we built Planet, a feature that leverages our technology to help our merchants support environmental sustainability projects. By joining forces with our merchants, we can generate positive environmental impact at scale."
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.