Visa Deepens Global Commitment to Environmental Sustainability with Pledge to Reach Net-zero Emissions by 2040
April 21 2021 - 7:00AM
Business Wire
Visa marks Earth Day 2021 with industry-leading
milestones, innovative partnerships and initiatives toward its
vision of a sustainable future
Visa (NYSE: V), a leading global payments technology company,
announced today a new global commitment to reach net-zero emissions
by 2040, and that the company achieved carbon neutrality across its
operations in 2020.i Visa also outlined plans to become a climate
positive company through new partnerships and expanded initiatives
to support sustainable commerce and the transition to a low-carbon
economy beyond the company’s own footprint.
“Visa is committed to creating a more sustainable future,” said
Al Kelly, chairman and chief executive officer of Visa. “Our new
net-zero commitment and enhanced efforts across our network in
support of sustainable initiatives are immediate ways we will
achieve our goals to help build a better future for our
planet.”
Net-zero by 2040 – 10 years ahead of Paris Climate Agreement
goal
As part of the commitment to reach net-zero emissions by 2040,
Visa announced it is a new signatory of The Climate Pledge, an
initiative co-founded by Amazon and Global Optimism, as well as a
new member of the Climate Business Network, a World Wildlife Fund
(WWF) initiative to accelerate action toward a net-zero future.
Visa’s net-zero commitment is aligned with emerging global
standards and definitions and will include efforts with suppliers
to abate a significant portion of the greenhouse gas footprint of
the company’s purchased goods and services. Visa also has committed
to set science-based targets through the Science Based Target
initiative at the 1.5 degree Celsius ambition level. These new
commitments join Visa’s existing sustainability leadership,
including its transition to 100 percent renewable electricity usage
in 2020.
“This Earth Month Visa is using the power of our network to
accelerate transformation in sustainability and economic recovery,
while helping ensure that the planet and economies around the world
thrive,” said Douglas Sabo, chief sustainability officer of Visa.
“By prioritizing clean energy and sustainable practices, investing
in environmentally innovative initiatives and engaging with
corporate and civil society leaders on climate, we are committed to
being a part of the global solution to climate change.”
Supporting Sustainable Commerce
Visa is expanding its initiatives to use its products, services,
network, data, payments expertise and brand to support sustainable
commerce and the transition to a low-carbon economy. Today, Visa
announced its collaboration with the Cambridge Institute for
Sustainability Leadership (CISL) to work together to identify new
opportunities to apply electronic payments capabilities and the
Visa network toward realizing a sustainable future. Results of the
collaboration are anticipated in Summer 2021.
Visa’s collaboration with CISL complements the company’s efforts
to work across its network to support a low-carbon future,
including:
- Partnerships advancing sustainable payment cards and
accounts
- Global initiatives supporting sustainable behaviors, such as in
mobility and travel
- Developing sustainable insights to support stakeholders in
commerce in understanding consumer barriers and drivers of
sustainable living behaviors
- Using the brand’s platforms to inspire sustainable living among
millions of consumers
Visa’s new goals and efforts to support sustainable commerce
build upon the company’s existing recognized industry leadership in
sustainability, including inclusion on the following: Dow Jones
Sustainability North American Index, America’s Most Responsible
Companies, 100 Best Corporate Citizens and 100 Most Just
Companies.
For more information, please visit:
https://usa.visa.com/visa-everywhere/blog/bdp/2021/04/15/sustainable-commerce-and-1618453815474.html.
About Visa Inc.
Visa is the world’s leader in digital payments. Our mission is
to connect the world through the most innovative, reliable and
secure payment network – enabling individuals, businesses and
economies to thrive. Our advanced global processing network,
VisaNet, provides secure and reliable payments around the world,
and is capable of handling more than 65,000 transaction messages a
second. The company’s relentless focus on innovation is a catalyst
for the rapid growth of connected commerce on any device. As the
world moves from analogue to digital, Visa is applying our brand,
products, people, network and scale to reshape the future of
commerce. For more information visit usa.visa.com/about-visa.html,
usa.visa.com/visa-everywhere/blog.html and @VisaNews.
This release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are identified by words
such as “will,” “plans,” “is expected,” and other similar
expressions. Examples of forward-looking statements include, but
are not limited to, statements we make regarding the timing and
likelihood of taking actions related to our strategy, plans for
future climate initiatives and goals, and the potential impact of
our actions. By their nature, forward-looking statements: (i) speak
only as of the date they are made; (ii) are not statements of
historical fact or guarantees of future performance; and (iii) are
subject to risks, uncertainties, assumptions or changes in
circumstances that are difficult to predict or quantify. Therefore,
actual results could differ materially and adversely from Visa’s
forward-looking statements due to a variety of factors, including
those contained in our Annual Report on Form 10-K for the fiscal
year ended September 30, 2020, and our other filings with the U.S.
Securities and Exchange Commission. You should not place undue
reliance on such statements. Except as required by law, we do not
intend to update or revise any forward-looking statements as a
result of new information, future developments or otherwise.
i This carbon neutrality achievement covers greenhouse gas
emissions footprint from Visa’s Scope 1 (owned source), Scope 2
(purchased electricity) and business travel and employee commuting
elements of Scope 3 (value chain) emissions. Scopes 1, 2 and 3 are
as defined by the Greenhouse Gas Protocol of the World Resources
Institute (WRI) and the World Business Council for Sustainable
Development (WBCSD).
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Visa Media Lindy Mockovak lindy.mockovak@visa.com
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