RTTNews | Nov 1, 2021 05:22AM EDT

05:21 Monday, November 1, 2021 (RTTNews.com) - Mastercard (MA) announced an acceleration of its net zero timeline to 2040 from 2050. The company said it targets to encourage tangible action by people who use its cards across the globe. This includes helping banks offer their consumers digital tools, such as the Mastercard Carbon Calculator, that encourage climate-conscious choices, and cards made from more sustainable materials.

To accelerate toward sustainability goals, Mastercard made changes to its executive compensation model, linking it to three global ESG priorities including operational carbon neutrality.

Mastercard said it also showed progress in 2020 against its existing 1.5C SBTi-approved targets, including a scope 1 & 2 reduction of 44% and scope 3 reduction of 57% against a 2016 baseline.

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