Mastercard Accelerates Global Environmental and Sustainability Efforts

Mastercard commits to further contributing to the Priceless Planet Coalition, which aims to restore 100 million trees globally by 2025; and announces partnership with AXA Hong Kong and Macau

Ahead of World Environment Day on June 5, Mastercard today announced the acceleration of its environmental and sustainability initiatives worldwide. Among the major highlights is the expansion of its reforestation work through Mastercard’s Priceless Planet Coalition to include 15 new sites worldwide, including in Cambodia, the Chinese Mainland, India, and the Philippines. This year, AXA Hong Kong and Macau joins the contribution efforts to the Coalition’s goal of restoring 100 million trees by 2025. AXA is the first insurance company to partner with Mastercard in Coalition-related initiatives in Hong Kong.

A UN Global Compact study found that 81 percent of CEOs are already developing sustainable products and services. However, a research by Bain found that nearly half of them fail to achieve their goals due to significant investment requirements. The Priceless Planet Coalition, formed by more than 100 global banks, fintechs and merchants, works to address this challenge by uniting companies, communities, and consumers in collective, coordinated climate action.

To further support the reforestation mission, Mastercard Hong Kong also organized a garment upcycling workshop and a League of Legends World Championship limited-edition merchandise auction in 2021. The proceeds were donated to the Priceless Planet Coalition, contributing to the restoration of a total of 2,148 trees.

Helena Chen, Managing Director, Hong Kong and Macau, Mastercard, said, “Leveraging its global business network that spans banks, governments, merchants and consumers, Mastercard is proud to boost the Priceless Planet Coalition’s reforestation and sustainability efforts even further. This is welcome advocacy in Hong Kong, where businesses of all sizes and fields are showing commitment to protecting the planet through various related programs. Through ESG initiatives worldwide, businesses can collectively make a significant impact on taking care of the environment and our planet.”

Building a sustainable digital economy

Mastercard is committed to building a more inclusive and sustainable world with a digital economy that works for everyone, everywhere. The company accelerated its net zero timeline to 2040 and recently expanded its compensation model for all employees – an initiative that integrates environmental, social and corporate governance priorities to its employees’ financial incentives. Through its Global Sustainability Innovation Lab, Mastercard is developing products to enable more sustainable commerce, as well as services to help its customers bring more eco-conscious solutions to consumers around the world. 

To join or learn more about the Priceless Planet Coalition, visit PricelessPlanet.org, where donations can also be made by the public. For every US$2 donated, Priceless Planet Coalition plants one tree. Help our priceless planet breathe more easily through your donations now.

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Digital assets:

Photo / Video Screenshot	Caption
	Mastercard’s Priceless Planet Coalition has 18 restoration projects globally, and it is working towards restoring 100 million trees globally by 2025.
	Event highlights of the “Handcraft Priceless Memories with Mastercard – Waste Not Workshop” in 2021: https://bit.ly/3LPWkf0
	Feature stories about renowned local tie-dye specialist Giant Tie Dye and local veteran puppeteer Wong Fai demonstrating the skills of transforming an unused t-shirt into a magical dream catcher, and the art of puppet play as well as nuanced performances. Check it out here: https://bit.ly/3wNCqNC