Skip to main content

Visa Deepens Global Commitment to Environmental Sustainability with Pledge to Reach Net-zero Emissions by 2040

Visa, 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.  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. 



Comments

Post a Comment

Popular posts from this blog

Narok School benefits from a Dormitory Courtesy of Procter and Gamble

STUDENTS OF OLOIGERO PRIMARY SCHOOL POSE FOR A PHOTO WITH THE P&G TEAM AND PARTNERS OUTSIDE THE NEWLY BUILT DOMITORY Pupils of Oloigero Primary School in Narok County have a reason to smile after Procter and Gamble funded the construction of a girl’s dormitory in the school. The facility, which will accommodate 80 girls, will help support and improve the access to quality education in the area. “Access to quality education is affected by a myriad of challenges in this country. Inadequate infrastructure is one of them.  The situation is even more dire for our girls thus the reason we are here today to commission this dormitory. We believe that this facility will be a critical resource to help keep our girls in school and together with other partners we will work to ensure that we change the narrative about girls missing school due to menstruation,” said Anthony Ng’ang’a,  Associate Brand Director -Commercial Leader - East Africa at Procter & Gamble (P&G)...
Post a Comment
Read more

Decentralized finance as a key driver of the financial ecosystem in Africa

Decentralized finance has come a long way from being a term only known to tech insiders. Although still in the early stages of development, Defi has the potential to open the door to a new industry within the African financial ecosystem. Africa is home to some of the world's fastest-growing economies, has a young population and has proven to be a fertile market for digital financial services. The continent leads the world in mobile money adoption, with digital transactions in Africa accounting for more than 45% of global mobile money transactions All these factors make the continent a strong candidate for the adoption of new financial services and technology. As the younger population on the continent grows, the need for financial inclusion increases. As much as banks are crucial to poverty reduction and sustainable growth, they have been unable to fill this gap. As a result, mobile money and open banking platforms are rapidly taking over the role of many banks. Both are leveraging...
Post a Comment
Read more

Boehringer Ingelheim rolls out training programme for local health innovators

Some of the innovators from Kenya, Ghana and Nigeria during the Making More Health accelerator workshop Boehringer Ingelheim, one of the world’s leading pharmaceutical companies, has called on innovators in Africa to adopt viable business models for their enterprises to ensure growth and sustainability. Speaking during a two-day training workshop for social entrepreneurs Eduardo Lioy, Director Corporate Strategy Development at Boehringer Ingelheim said the firm has invested heavily in training innovators and social entrepreneurs especially in human and animal health in an effort to tackle unmet human and animal health needs. The 'Making More Health’ (MMH) Accelerator programme was launched last year and brings together African social entrepreneurs, Ashoka, an innovators platform and Boehringer Ingelheim's’ leaders from around the globe to brainstorm on ways to enhance the start-ups business models and identify opportunities for strategic collaboration to improv...
Post a Comment
Read more