- New study of consumers in 24 countries shows the pandemic is
prompting billions1 to consider more sustainable behaviors
- A large proportion of adults (85%) state they’re willing to
take personal action to combat environmental and sustainability
issues in 2021
- New Mastercard feature enables banks to equip people with
carbon footprint data and insights to help inform consumer spending
and offer ways to contribute to reforestation
New research on sustainability, commissioned by Mastercard,
reveals a marked increase in consumer passion for the environment
as a result of COVID-19. More than half of those surveyed across
the world (54%) see reducing their carbon footprint as more
important now than pre-pandemic. This signals a growing trend
toward eco-conscious spending and consumption among people who want
to turn their purchases and rewards redemption into meaningful
action for the planet.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210412005531/en/
Mastercard Carbon Calculator helps inform
consumer spending (Photo: Business Wire)
To address this, Mastercard, in collaboration with Swedish
fintech Doconomy, developed the Mastercard Carbon Calculator. Now
integrated across Mastercard’s global network, this feature is easy
for banks to adopt and customize for eco-conscious consumers who
are looking for more ways to be informed about their spending. It
provides access to insights and data about carbon impact and
enables people to easily contribute to preserving the
environment.
“Companies, consumers and communities must work together to make
the significant changes needed to effectively address climate
change," said Jorn Lambert, Chief Digital Officer, Mastercard. "The
Mastercard Carbon Calculator informs consumers about the carbon
footprint of their purchases, so that they can make more mindful
spending decisions and contribute to forest restoration. By
embedding sustainability into the very fabric of our business, we
can unlock the power of our network, reaching billions of consumers
and partners, to create positive change for the environment. This
builds on the creation last year of the Priceless Planet Coalition,
which unites businesses and consumers to restore 100 million
trees.”
The Carbon Calculator enables consumers to receive a snapshot of
the carbon emissions generated by their purchases across spending
categories. The calculations are powered by the independently
verified Åland Index and can be further enhanced with relatable and
easy-to-understand equivalents (such as the number of trees
required to absorb the same amount of CO2), and tips about living
more sustainably. Consumers also have the option to contribute to
the forest restoration projects of the Priceless Planet Coalition –
whether by donating or using banks’ loyalty rewards programs. Banks
can seamlessly integrate the Carbon Calculator into their mobile
apps through new APIs that are now available on Mastercard
Developers.
“By engaging a whole industry in enabling individual insights as
well as collective action, Mastercard has redefined the role the
financial industry can play every day in tackling the climate
crisis,” said Mathias Wikstr�m, Chief Executive Officer, Doconomy.
“When others are talking of the importance of ESG, Mastercard is
putting it to work at the fingertips of the consumer.”
Consumers are increasingly conscious of their own actions and
those of brands.
Over half of those surveyed globally (54%) see reducing their
carbon footprint as more important now, and almost three in five
(58%) have become more conscious about how their actions can impact
the environment than ever before, with Gen Z and Millennials (65%)
leading this trend. However, as consumers become more aware of
their own actions, more than three in five (62%) believe that
companies should behave in more sustainable and eco-friendly ways
since COVID-19, with Gen Z also leading this shift (65%).
The trend toward more conscious consumption has grown over the
last decade. However, changes in attitudes and actions have
increased rapidly as a result of COVID-19. As consumers across the
globe call on companies and brands to behave in more sustainable
and eco-friendly ways, global respondents also revealed that
reducing waste (37%), reducing air and water pollution (35%), and
tackling the issue of plastic pollution in packaging and products
(35%) are the top three issues they want companies and brands to
focus on, in addition to dealing with the pandemic. Being more
aware of purchases is also one of the top changes that people will
make as a result from COVID-19 (42%).
Mastercard is equipping its global network to be a positive
force for the environment.
Ahead of Earth Day on April 22, the Priceless Planet Coalition
will be activating several sustainability-related campaigns to
contribute to the goal of restoring 100 million trees:
- First Hawaiian Bank is embedding sustainability rewards into
its loyalty program, with additional bank partners to follow in the
coming months. Cardholders can put their reward points to good use
by redeeming them for growing new trees.
- Recognizing the importance of social media in creating
awareness and advocacy for the environment among consumers,
starting April 15, Mastercard will launch a campaign on TikTok and
Instagram in the U.S., U.K., Germany and the Netherlands to
encourage people to plant a tree for a friend to celebrate the
planet. The company will match donations when people use their
Mastercard.
- From April 22 to May 3, Mastercard cardholders in the US will
be able to bid on a selection of curated, Priceless experiences
spanning passions from dining to golf, from celebrity encounters to
the great outdoors and much more. All auction proceeds will benefit
the Priceless Planet Coalition’s forest restoration projects.
The Priceless Planet Coalition continues to expand and now
includes more than 50 members. The most recent partners to join
include: Arnold & Winnie Palmer Foundation, Bass Pro Shops and
Cabela’s, ekko, Fair Square Financial, GLS Bank, Hellenic Bank,
JetBlue, Paybox Bank, Pebble Beach Resorts, PGA Tour, and
UKRSIBBANK BNP Paribas Group.
In addition to the Carbon Calculator, Mastercard offers other
environmentally focused products and services, such as cards made
from sustainable materials to reduce plastic waste. The company has
also pledged to reach net zero emissions by 2050, building on
existing commitments to reduce greenhouse gas emissions aligned
with 1.5-degrees Celsius. Mastercard has also issued a $600 million
sustainability bond and recently announced changes to its executive
compensation model to help accelerate progress around three global
ESG goals: carbon neutrality, financial inclusion and gender pay
parity. This is all in support of the company’s goal of building a
more sustainable and inclusive digital economy.
For further information please visit www.PricelessPlanet.org or
contact Erin Goodhand (erin.goodhand@mastercard.com).
Notes to editors
All figures, unless otherwise stated, are from YouGov Plc. Total
sample size was 25519 adults from UK, Germany, Belgium, Italy,
Sweden, Colombia, USA, India, Greece, Netherlands, Austria, France,
Turkey, Mexico, Brazil, Kenya, Poland, Russia, Spain, Portugal,
UAE, Canada, Australia and Japan. Fieldwork was undertaken between
19th January - 5th March 2021. The survey was carried out online.
The figures have been weighted and are representative of all
country adults (aged 18+).
1 Mastercard calculated the world
population of 7.9 billion (source: Worldometres) with 85% admitting
they’re willing to take personal action. This calculation is
6,715,000,000.
About Mastercard (NYSE: MA), www.mastercard.com
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
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210412005531/en/
Erin Goodhand (erin.goodhand@mastercard.com)
MasterCard (NYSE:MA)
Historical Stock Chart
From Mar 2024 to Apr 2024
MasterCard (NYSE:MA)
Historical Stock Chart
From Apr 2023 to Apr 2024