iGaming operator Paf has reaffirmed its environmental strategy through continued investment in climate financing, supporting a certified hydropower initiative in Peru as part of its 2024 efforts to mitigate climate impact.
Paf has contributed annually to climate financing projects since it began measuring its environmental footprint. This year, the company is backing a hydropower project in the Monzón district of Peru. The facility, located along the Aucantagua River, has an installed capacity of 20.58 MW and contributes to the generation of renewable energy in the region.
The operator aims to reach net-zero emissions by 2040 and follows a structured approach to map, measure, and reduce emissions from both direct operations and across its value chain, including emissions associated with suppliers and partners.
Climate financing, sometimes referred to as climate offsetting, allows companies to fund external projects that reduce or remove greenhouse gas emissions. Paf’s contribution is intended to complement its own emission reduction activities rather than replace them. Projects funded typically include renewable energy generation, reforestation, or energy efficiency efforts in developing countries.
Paf’s latest initiative reflects a broader trend among igaming operators seeking to address sustainability and align with long-term environmental targets, while contributing to international climate goals through third-party certified projects.
“But we don’t stop there. Since 2017, we have chosen to climate finance all our measured climate impact every year. Today, we measure over 95% of our emissions – fully aligned with the Science Based Targets initiative (SBTi), which has validated our Net-Zero goal,” says Daniela Johansson, Deputy CEO & Chief Responsibility Officer.
“Over the years, we’ve supported projects in several parts of the world – mostly in countries that lack the resources to invest in climate solutions themselves, but also in places like Iceland, where technology enables the direct capture of carbon dioxide from the air,” says Ludvig Winberg, Corporate Communication Manager
“Paf is a strong company with the resources to support the transition our world needs. That’s why we choose to climate finance our entire measured carbon footprint,” says Ludvig Winberg.
“The project is included in the UN Carbon offset platform, and we trust that their projects are appropriately selected. Climate finance in itself is not a requirement for us to comply with the SBTi guidelines going towards Net-Zero, but it is nevertheless a strong recommendation from them that companies with resources contribute to environmental work on a broader level,” says Ludvig Winberg.
