Mastercard and Partners Launch Priceless Planet Coalition to Act on Climate Change

Mastercard today announced the launch of the Priceless Planet Coalition, a platform to unite corporate sustainability efforts and make meaningful investments to preserve the environment.

Together with partners who share a commitment to doing well by doing good, the Priceless Planet Coalition is pledging to plant 100 million trees over five years. Founding partners in the coalition include Citibank, Santander UK, IHS Markit, bunq, Saks Fifth Avenue, L.L. Bean, New York Metropolitan Transportation Authority, Transport for London, and American Airlines, with more to be announced.

It is crucial for companies to help reduce carbon emissions by investing in energy efficient workplaces and operations, sourcing renewable energy and maintaining a sustainable supply chain. But the responsibility for business today extends far beyond their own efforts. Mastercard believes the private sector can do more and make real impact by combining efforts and engaging consumers.

“No matter who you are or what you do, climate change affects you. But, it has the biggest negative impact on those who are socially and economically vulnerable. The time for just negating our environmental footprint has passed. Our best chance at changing the course we’re on and setting us all up for better futures is for companies and consumers to pull in the same direction towards a shared goal, real change can happen,” said Ajay Banga, president and chief executive officer of Mastercard.

“We are committed to help advance change. We have an incredible network of reach. We have an incredible network of partners. We can put them to work to help deliver positive impact for the environment in the form of a Priceless Planet Coalition,” Banga added.

Core to their own missions, these partners have for a long time placed significant emphasis on their own sustainability efforts. The goal of this initiative is to deliver a true network effect, where collaboration makes the value of the whole greater than the sum of its parts, enabling the entire ecosystem to benefit.

Mastercard and its customers reach nearly 3 billion consumer and corporate cardholders. One of the key elements of this new commitment is empowering these people to act. Partnerships like that between Mastercard and Doconomy help people to make informed, climate-friendly choices, and make it simple, fast and easy to make contributions to the climate cause.