Klarna has joined several climate change initiatives, committing to reach net-zero greenhouse gas emissions by 2040.

The retail bank and payments FinTech announced on Wednesday that it would be joining The Climate Pledge and the Race to Zero.

The Climate Pledge is a commitment co-founded by Amazon and Global Optimism to reach net zero carbon emissions by 2040, 10 years ahead of the Paris Agreement.

Race to Zero is a UN-backed global campaign that aims to build a momentum around the shift to a decarbonised economy and aims to halve all global emissions by 2030.

Klarna has already committed to reduce its total emissions by 50 per cent by 2030 and use an internal carbon tax.

“We as a global company have a great responsibility to tackle some of the most pressing challenges for our planet's health,” said Klarna’s chief marketing officer, David Sandström. “We therefore join forces with other major players to prevent long-term damage to our economies and ways of life.”

Sandström added: “Managing Klarna’s environmental impact is a top priority for Klarna and we aim to further promote environmental awareness and knowledge among our employees, customers and partners.”

Klarna has pledged to measure and report greenhouse gas emissions on a regular basis, implement decarbonisation strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies, and neutralise any remaining emissions with additional, quantifiable, real, permanent, and socially-beneficial offsets to achieve net zero annual carbon emissions.

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