Company has innovative partnerships and initiatives that promote its vision of a sustainable future
Visa, the world leader in payment technology, has announced a new global commitment to zero net greenhouse gas emissions by 2040, also stating that the company has achieved neutrality carbon in all its operations in 2020. In addition, it revealed plans to become a company that contributes positively to the climate through new partnerships and the expansion of initiatives aimed at supporting sustainable trade and the transition to a low-cost economy. low carbon, going beyond its own reach.
“Visa is committed to creating a more sustainable future”
“Visa is committed to creating a more sustainable future,” says Al Kelly, Visa’s chairman and CEO. “The commitment to zero net emissions and improve efforts across our network, in support of sustainable initiatives, are immediate ways to achieve our goals in helping to build a better future for the planet.”
Zero net emissions until 2040 – 10 years ahead of the Paris- based climate change
As part of its commitment to zero net emissions by 2040, Visa has announced that it is the new signatory to the Climate Commitment, an initiative co-funded by Amazon and Global Optimism, and a new member of the World Wildlife Fund’s (WWF) Climate Business Network to accelerate actions for a net zero emissions future. Visa’s commitment to zero net emissions is in line with emerging global standards and definitions and will include efforts with suppliers to significantly reduce the greenhouse gas footprint of products and services purchased by the company. Visa has also committed to establishing science-based targets through the Science Based Target initiative, in order to limit the temperature rise to 1.5ºC. These new commitments join Visa’s existing leadership in the area of sustainability,
“Visa is using the strength of our network to accelerate sustainability and economic recovery and help ensure the prosperity of the planet and economies around the world,” says Douglas Sabo, Visa’s head of sustainability. “By prioritizing the use of clean energy and sustainable practices, investing in environmentally innovative initiatives and working with corporate and civil society leaders, we are committing ourselves to being part of a global solution to climate change.”
Support for sustainable trade
Visa is expanding its initiatives to use its products, services, network, data, payment and brand expertise to support sustainable trade and the transition to a low carbon economy. The company has just announced that it will collaborate with the Cambridge Institute for Sustainability Leadership (CISL) to identify new opportunities to apply electronic payment functionalities and the Visa network to achieve a sustainable future. The results of the collaboration are expected for the second half of 2021.
Visa’s collaboration with CISL complements the company’s efforts to work across its network to support a low-carbon future, which includes sustainability in:
- Partnerships to promote cards and payment accounts;
- Global initiatives in support of sustainable behavior in areas such as mobility and travel;
- Development of insights focused on sustained growth for parties with an interest in trade, helping them to understand what prevents and what drives the consumer to adopt such behaviors;
- Use of the brand’s platforms to inspire millions of consumers to lead a sustainable lifestyle.
Visa’s new goals and efforts towards sustainable trade are based on its recognized leadership in sustainability in the sector, which includes its presence on lists such as: Dow Jones Sustainability Index, America’s Most Responsible Companies, 100 Best Corporate Citizens and 100 Fairer Companies.