Commercial, Energy Efficiency, GHG Emissions  -  January 20, 2020

Mastercard forms coalition for corporate carbon reduction

Mastercard announced Jan. 17 the Priceless Planet Coalition, which includes a slew of companies committed to reducing their carbon footprint and uniting corporate sustainability efforts.

In addition to Mastercard, the companies involved with the coalition include Citibank, Santander UK, HIS Markit, bunq, Saks Fifth Avenue, L.L. Bean, New York Metropolitan Transportation Authority, Transport for London, and American Airlines. Already, the Priceless Planet Coalition has pledged to plant 100 million trees over five years and investing in energy-efficient workplaces and operations, sourcing renewable energy and maintaining a sustainable supply chain.

“No matter who you are or what you do, climate change affects you,” Ajay Banga, president and chief executive officer of Mastercard, said in a statement. “But, it has the biggest negative impact on those who are socially and economically vulnerable. The time for just negating our environmental footprint has passed. Our best chance at changing the course we’re on and setting us all up for better futures is for companies and consumers to pull in the same direction towards a shared goal, real change can happen.”

The initiative has started efforts to encourage consumers to use mass transportation by planting a tree to incentive its use. This campaign is expected to be launched at other cities including London, New York, Stockholm, Helsinki, Ankara, Barcelona and others.

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