Mastercard has pledged to reach net-zero emissions by 2050. The first company in the payments industry to gain Science Based Targets initiative (SBTi) approval for its GHG goals, Mastercard is currently working towards its SBTi-approved goal to reduce total Scope 1 and 2 emissions by 38 per cent and Scope 3 emissions by 20 per cent by 2025 from a 2016 baseline on its journey to net-zero.

“2021 is set to be a crucial year for climate action, and we believe the private sector has a vital role to play in the transition to a zero-carbon economy. The quality of all our futures are deeply and inextricably linked to the health and well-being of our planet. That’s why, in addition to improving our own environmental footprint, we’re driving systemic change through powerful coalitions and empowering our network of nearly 3 billion consumers to take collective action to preserve the environment,” said Kristina Kloberdanz, chief sustainability officer at Mastercard. “By coming together, we can drive exponential impact.”

Mastercard is initially focusing on two priority areas to make progress against its emissions targets – decarbonising its own operations and leading on supplier sustainability.

Mastercard operates 180 facilities across the world and is prioritising renewable energy and energy efficiency programmes, including the expanded use of solar panels in datacentres, which account for more than 50 per cent of energy usage across the company. Currently all Mastercard owned properties in the US. are fitted with solar panels and all owned properties across the world are LEED certified.

In the future, Mastercard will also review opportunities for investing in carbon removal projects, including new nature-based solutions as well as technologies and services that reduce carbon impact while supporting broader local economic and social development goals.

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