Photo: Rafael Henrique/SOPA Images/REX/Shutterstock
Mastercard demonstrates a strong commitment to bringing positive impact, from protecting the environment to supporting small businesses. The company sets ambitious sustainability goals, aiming for net-zero GHG emissions by 2040 and sourcing renewable energy.
Through the Priceless Planet Coalition, Mastercard is actively working to restore 100 million trees by the end of 2025. In addition, they have developed innovative products like a carbon calculator and a sustainable cards program, empowering customers and partners to make eco-conscious choices.
Mastercard's dedication to carbon reduction is evident; by 2022, they've already achieved a remarkable 41% reduction in Scope 1 and 2 GHG emissions compared to their 2016 baseline. Scope 1 emissions cover direct greenhouse gas emissions from owned sources, while Scope 2 emissions include indirect emissions from purchased energy generation. Impressively, Mastercard has also made strides in reducing Scope 3 emissions, which encompass indirect emissions within their value chain, achieving a 44% reduction. These actions underscore the company’s resolute commitment to safeguarding the planet for future generations.
Beyond environmental initiatives, Mastercard also actively promotes financial inclusion. Their initiatives, such as Strive and the Mastercard Impact Fund, aim to bridge the gender gap in financial inclusion and bring 1 billion people and 50 million micro and small businesses into the digital economy by 2025. This showcases Mastercard’s dedication to promoting sustainable economic growth worldwide.
Stepping beyond a digital payment technology company, Mastercard demonstrates a holistic
approach to sustainability, bringing lasting impacts on environmental stewardship and social
empowerment.
Author: Thomas Chan
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