Mastercard and its partners advance the future of sustainable commerce

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Proposed by MasterCard

Mastercard and its partners advance the future of sustainable commerce

PURCHASE, NY, Nov. 1, 2021 / CSRwire / – As world leaders gather for the United Nations Climate Change Conference (COP26), Mastercard has unveiled an acceleration of its decade-long net zero calendar, from 2050 to 2040. sustainable solutions for customers in Europe and Latin America, including Banco de Costa Rica, ekko, Gránit Bank and Sberbank, all of whom have signed up to adopt the Mastercard carbon calculator.

As part of its net zero strategy, Mastercard had already committed to meeting its existing science goals (SBTi) for greenhouse gas reduction, which are aligned with the United Nations business ambition for a 1-year future. , 5 ° C. The company switched to 100% renewable energy in 2018 for its operations, and its emissions reduction strategy mainly focuses on continuing to decarbonise its entire value chain, including emissions from scopes 1, 2 and 3.

Mastercard has received an ‘A’ rating for Supplier Engagement since 2018 from the CDP (formerly Carbon Disclosure Project) and has joined the 1.5 ° C Supply Chain Leaders Initiative, thereby supporting large and small suppliers with concrete resources and tools to measure their emissions and develop climate strategies. via the SME Climate Hub.

Supported by its new global laboratory for sustainable development innovation, the company aims to encourage concrete actions by people who use its 2.9 billion cards around the world. This includes helping banks offer their consumers digital tools, such as the Mastercard carbon calculator, which encourage climate-friendly choices, and cards made from more sustainable materials.

“Tackling the global climate crisis will take us all – and big business has a critical role to play. At Mastercard, we continue to raise the bar for ourselves, accelerating our commitment to achieving zero net emissions, ”said Michael Miebach, CEO of Mastercard. “We will also use our technology and our global network to inspire collective action that promotes a more sustainable digital economy. ”

Allow a choice of sustainable consumption

According to a recent Mastercard survey, 85% of people worldwide said they were ready to take personal action to tackle environmental and sustainability challenges in 2021. New research from Mastercard also shows our company is now at an inflection point for both supply and demand. for sustainable options.

  • Mastercard helps educate consumers about the environmental impact of their spending through the Mastercard carbon calculator, created in collaboration with Swedish fintech Doconomy. Integrated into Mastercard’s global network earlier this year, the carbon calculator will now be adopted by major banking partners – both traditional financial institutions and emerging fintechs – in markets around the world, including Banco de Costa Rica, ekko, Gránit Bank and Sberbank. With Mastercard, each partner will co-create and define their customer experience, for example by improving it with relevant and easy-to-understand equivalents (such as the number of trees needed to offset the same amount of CO2), by integrating the functionality of donation to support reforestation projects and provide advice on sustainable living.
  • Mastercard’s sustainable card program is showing strong momentum: 148 financial institutions in 46 countries have now issued cards made with more sustainable materials, including HSBC and Banco Santander, as we seek to reduce the use of premium PVC plastic. use in the manufacture of cards. The company also recently unveiled a one-of-a-kind badge to identify these cards made more sustainably from recyclable, recycled, bio-based, chlorine-free or oceanic plastics.
  • Through the Priceless Planet Coalition, Mastercard and its network of partners also continue to provide consumers with simple ways to help restore forests. Bringing together more than 80 companies around the world in the restoration of 100 million trees, the Coalition now leads several consumer engagement campaigns in all markets to generate donations for the environment. The Coalition’s restoration partners, Conservation International and the World Resources Institute, have also innovated in key project locations.

To help accelerate progress towards Mastercard’s sustainability goals, the company has changed its executive compensation model, linking it to three global ESG priorities, including operational carbon neutrality. Mastercard also showed progress in 2020 against its existing 1.5 ° C targets approved by SBTi, including a reduction of Scopes 1 and 2 by 44% and a Scope 3 reduction of 57% compared to a benchmark of 2016, and was recently awarded for Climate Supply Chain Leadership. Leaders Conference.

Quote sheet

Todd Stern, former special envoy for climate change, chief US negotiator for the 2015 Paris climate agreement, and adviser to the Priceless Planet Coalition: “COP26 is an extremely important event as leaders worlds come together, but the action that follows is even more crucial. Businesses can play an important role in strengthening their own commitments and responding to consumer demand for greener products and solutions. We need bold commitments and even bolder actions. The work Mastercard and its partners are doing through the Priceless Planet Coalition and the Carbon Calculator will enable more consumers to contribute to the fight against climate change.

Banco de Costa Rica, Guillermo Gayle Monge, Head of Payments: “Costa Rica is a global icon as a green country and Banco de Costa Rica as a state bank is fully committed to environmental sustainability, we are proud of stimulate projects in favor of the environment. We thank Mastercard for inviting us to participate in the launch of the carbon calculator in the LAC region and to lend a hand to our planet, by reducing all of us our carbon footprint.

Doconomy, Mathias Wikström, co-founder and CEO: “Doconomy is proud to work with Mastercard, contributing via the land index methodology for the carbon calculator and the establishment of the sustainable development innovation laboratory . This is a solid foundation for everyone to contribute to climate action when needed. Mastercard continues to lead the way for its industry.

ekko, Oli Cook, Co-Founder and CEO: “As world leaders come together at COP26 to advocate for collaborative action, so begins our own journey. We’re excited to introduce ekko to the world and offer people a greener way to pay. From collecting ocean-related plastic to global reforestation, with Mastercard, we’ll help our customers live more sustainably and become more aware of the carbon footprint of what they consume by doing nothing more than ‘use their ekko card.

Banque GRÁNIT, Eva Hegedüs, President and CEO: “Companies must use their resources to drive meaningful change for the planet. At GRÁNIT Bank, we wholeheartedly support all sustainability efforts. From the very beginning, our mission has been to inspire customers’ minds and hearts towards sustainability and to make planet-friendly living possible. For this work, GRÁNIT Bank has received several accolades (for example, the Green Financial Innovator Prize awarded by the National Bank of Hungary), but the biggest prize of all is our planet which we can save for future generations. To this end, the Bank will soon launch a new innovative function in its mobile banking application: the carbon calculator will allow users to measure and reduce their carbon footprint. It is a great honor for us to have had the opportunity to work with Mastercard on this project and on many other innovative projects.

Sberbank, Evgenia Tyurikova, Head of Sber Private Banking: “In partnership with Mastercard, we are working on the launch of the Carbon Calculator. We want our business to drive meaningful change around the world. The Mastercard Carbon Calculator will help draw people’s attention to environmental issues and increase their level of engagement by providing them with tools to assess their impact on the environment and the ability to neutralize that impact.

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our business. With connections in more than 210 countries and territories, we are building a sustainable world that opens up invaluable possibilities for all.

www.mastercard.com

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Erin goodhand

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Phone. : 646.659.8136

MasterCard

MasterCard

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our business. With connections in more than 210 countries and territories, we are building a sustainable world that opens up invaluable possibilities for all.

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