Global payment provider, Mastercard, has set plans to reduce greenhouse gas emissions by 20 percent. The plan has been approved by the Science Based Targets initiative (SBTi), making it the first payments industry company to achieve this recognition.
In 2017, Mastercard achieved 100 percent renewable energy offset usage across all of its global offices. This milestone was achieved through a combination of on-site solar generation, direct renewable energy purchases in deregulated markets, and country-specific renewable energy credits.
The company’s emission reduction target will use a 2016 baseline. It will also include both direct and indirect emissions.
“As a company, we pursue opportunities to be a force for good in the world,” said Kristina Kloberdanz, chief sustainability officer, Mastercard. “Climate change is one of the biggest challenges of our time. This commitment highlights Mastercard’s determination to be a part of the solution.”