SAN - Mastercard narrows net zero timeline to 2040 as it accelerates sustainable solutions

Mastercard (NYSE:MA) accelerates its net zero timeline from 2050 to 2040, in addition to scaling its sustainable solutions to customers across Europe and Latin America as world leaders come together for the UN Climate Change Conference. Thanks to the company's new global Sustainability Innovation Lab, Mastercard (MA) aims to help banks offer their customers digital tools, such as the Mastercard Carbon Calculator and cards made from more sustainable resources. 148 financial institutions in 46 countries have now issued cards made with more sustainable materials, including HSBC (NYSE:HSBC) and Banco Santander (NYSE:SAN), as it looks to reduce the use of first-use PVC plastic in card manufacturing. "We will also use our technology and global network to inspire collective action that fosters more sustainable digital economy," Mastercard CEO Michael Miebach says. In May, Mastercard ties top executives' compensation to ESG goals.

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Mastercard narrows net zero timeline to 2040 as it accelerates sustainable solutions