GHG Emissions - April 22, 2022
Mastercard Ties Compensation to ESG for All Employees
Mastercard expanded its compensation for ESG performance to all of its employees.
The company introduced a new compensation model for its executives at the executive vice president level and above last year, wrote Michael Miebach in a blog post. The bonuses were determined in part by the company’s performance on three Environmental, Social and Corporate Governance priorities: carbon neutrality, financial inclusion and gender pay parity.
Mastercard has now extended the model to its annual corporate score and all employees globally, taking the shared accountability and progress to the next level.
“Each and every one of us shares the responsibility to uphold our ESG commitments. The corporate score rewards employees for going above and beyond to deliver strong results for the company,” Miebach said. “Beginning this year, achieving our ESG goals will now factor into bonus calculations for all employees.’
The company’s ESG priority areas remain the same, with a sharpened focus on the environment, including reducing emissions and partnering with suppliers committed to decarbonization.
“While our global efforts go much broader and deeper, we’re tying compensation to emissions, financial inclusion and the gender pay gap because we have a substantial impact in these areas and because they closely align with our vision,” he said. “Making personal, financial and environmental success attainable for everyone – that’s how we power economies and empower people. Our responsibility, and our success, is shared. And now we’re ensuring the recognition is too.”
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