Mastercard: Turning Aspiration Into Impact

Rhea-AI Summary

Mastercard's 2023 ESG Report highlights the company's commitment to social impact, showcasing progress in empowering people, fostering prosperity, and preserving the planet. Key achievements include gender pay equity, investments in Black communities, education initiatives for girls, digital inclusion efforts, emissions reduction, and sustainability goals. The report emphasizes Mastercard's dedication to ESG principles and creating value for stockholders through impactful initiatives.

Positive

• Mastercard increased the global median pay for female employees to 4% of the median pay for male employees in 2023, up 1.7% from the previous year.
• The company invested over $511 million in Black communities in the U.S., surpassing its goal two years early.
• Mastercard educated 8 million girls through its Girls4TechTM curriculum since 2014, exceeding its goal two years early.
• The company connected more than 870 million people to the digital economy and 48 million small businesses, approaching its goals for 2025.
• Mastercard reduced Scope 1 and 2 emissions by 48%, and Scope 3 emissions by 40% in 2023 compared to 2016, remaining on track to achieve its 2025 milestones.
• The company announced plans to eliminate first-use PVC plastics from payment cards on its network by 2028.

Negative

• None.

PURCHASE, NY / ACCESSWIRE / April 16, 2024 / Mastercard

Mastercard details how it's activating its network, services, products and partnerships to drive the company's commitment to doing well by doing good in its 2023 Environmental, Social and Governance Report published today. The report outlines progress toward social impact goals to support People, Prosperity and our Planet, as well as continued work beyond outlined milestones. Underscored by strong governance principles, the company's ESG strategy and efforts directly support business success.

A year of impact

Select progress and efforts in 2023 include:

Empowering people to reach their full potential

• Increased the global median pay for female employees to 4% of the median pay for male employees, up 1.7% from 2022; women at Mastercard continue to earn $1 for every $1 men earn.
• Invested more than $511 million in Black communities in the U.S. since launching our In Solidarity initiative in 2020, exceeding our goal two years early while continuing our efforts.
• Educated 8 million girls through our Girls4TechTM curriculum since the program's launch in 2014, exceeding our goal two years early while continuing our efforts.

Fostering prosperity around the world

• Working with our partners, connected more than 870 million people to the digital economy, approaching our goal of 1 billion by 2025; and 48 million small businesses, approaching our goal of 50 million by 2025.
• Provided 37 million women entrepreneurs with solutions that can help them grow their businesses, surpassing our goal of 25 million; we will continue to focus on supporting women entrepreneurs through our varied programs.
• Reached 12 million micro and small businesses via our Mastercard Strive initiative .
• Registered 5 million users on the Community Pass

Preserving the planet for future generations

• Continued to see signs of decoupling emissions from corporate growth, with a 1% year-over-year decrease in emissions versus 13% growth in net revenue.
• Reduced Scope 1 and 2 emissions by 48%, and Scope 3 emissions by 40% in 2023, compared to our 2016 base year; with 91% of our suppliers reporting to CDP on Scope 3 emissions. We remain on target to achieve the short-term milestones in 2025.
• Announced we are accelerating efforts to eliminate first-use, PVC plastics from payment cards on our network by 2028.

At Mastercard, we're powering economies and empowering people, building a sustainable world where everyone prospers. Environmental, social and governance (ESG) matters are core to our business strategy and fundamental for driving long-term value for our stockholders. We leverage our employees, technology, resources, partnerships and expertise to drive positive, lasting impact while at the same time creating markets for the future.

Mastercard's 2023 ESG Report is available online.

About Mastercard (NYSE: MA)

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. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

www.mastercard.com

Originally published by Mastercard

Follow along Mastercard's journey to connect and power an inclusive, digital economy that benefits everyone, everywhere.

View additional multimedia and more ESG storytelling from Mastercard on 3blmedia.com.

Contact Info:
Spokesperson: Mastercard
Website: https://www.3blmedia.com/profiles/mastercard
Email: info@3blmedia.com

SOURCE: Mastercard

View the original press release on accesswire.com

What is Mastercard's commitment in its 2023 ESG Report?

Mastercard's 2023 ESG Report highlights the company's commitment to social impact, showcasing progress in empowering people, fostering prosperity, and preserving the planet.

How much did Mastercard increase the global median pay for female employees in 2023?

Mastercard increased the global median pay for female employees to 4% of the median pay for male employees in 2023, up 1.7% from the previous year.

What is Mastercard's goal in connecting people to the digital economy by 2025?

Mastercard aims to connect 1 billion people to the digital economy by 2025, and has already connected over 870 million people.

What emissions reduction achievements did Mastercard report in 2023?

Mastercard reduced Scope 1 and 2 emissions by 48%, and Scope 3 emissions by 40% in 2023 compared to 2016, remaining on track to achieve its 2025 milestones.

What sustainability goal did Mastercard announce for payment cards on its network?

Mastercard announced plans to eliminate first-use PVC plastics from payment cards on its network by 2028.