Mastercard highlights progress towards a better future in Sustainability Report 2017
Cashless transaction provider Mastercard released its 2017 Corporate Sustainability Report this week, demonstrating the ways in which it is delivering on its pledge to help work towards a sustainable society. The company said that it “broke new ground” this year by reallocating $500 million from tax savings to “advance inclusive growth.”
Mastercard defines inclusive growth, loosely, as making sure that “the benefits of a growing economy extend to all segments of society,” and it had previously spent as much as $100 million on initiatives that fall under this rubric. According to a press release, the company also gained “industry-first approval for its science based target to reduce greenhouse gas emissions.”
Mastercard’s share price has risen by 36% so far this year
Source: Yahoo Finance
Kristina Kloberdanz, Mastercard’s chief sustainability officer, made the following comment as the report was released: “We have long believed that doing good for society helps us do well as a company. This sense of purpose is reflected in how we bring to life our vision of a ‘World Beyond Cash.’ I’m proud of our progress and excited about the ongoing impact we can and will have on the areas that matter to our business and stakeholders.”
The report highlights two main areas in which sustainability is having an impact on the company’s operations. The first is its viability in business: as sustainability becomes more practical, it can deliver real savings to businesses who are willing to spend the time and effort to make sure what they’re doing is a net positive for the planet. And the second is the importance of ethical environmentalism to Mastercard’s “external stakeholders”. As the millennial generation comes more to the fore over the coming years, and global warming continues to increase, you can expect this last factor to continue growing in importance.
Lastly, the report noted how much acclaim Mastercard was receiving from the world around it. It said that it had been awarded numerous plaudits, including: “Ethisphere’s World’s Most Ethical Companies, DiversityInc’s Top 50 Companies for Diversity, the Human Rights Campaign’s Best Place to Work for LGBTQ Equality, Fatherly’s Best Places to Work for New Dads, and the Committee Encouraging Corporate Philanthropy’s Force for Good award.”
Dominion holds Mastercard in its Global Trends Ecommerce Fund.
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