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illuminem summarizes for you the essential news of the day. Read the full piece on Carbon Credits or enjoy below:
🗞️ Driving the news: Visa and Mastercard, two global payment giants, are balancing financial growth and sustainability while competing for net-zero leadership
• Visa’s Q1 2025 net revenue rose 10% to $9.5 billion, while Mastercard’s 2024 revenue increased 12% to $28.2 billion
• Both firms have committed to carbon neutrality and net-zero targets by 2040 but differ in their sustainability strategies
🔭 The context: Visa has been carbon neutral since 2020, sourcing 100% renewable electricity and investing in carbon offsets
• Mastercard, carbon neutral since 2021, takes a broader approach, reducing supply chain emissions and launching the Priceless Planet Coalition to plant 100 million trees
• Mastercard is also integrating ESG-linked financial products, while Visa focuses on transaction security and operational efficiency
🌍 Why it matters for the planet: The finance sector’s carbon footprint is mainly indirect emissions (Scope 3) from partners and supply chains
• While Visa and Mastercard both cut operational emissions, Mastercard is taking a stronger stance on indirect emissions through vendor selection and green finance initiatives
• These moves encourage banks and consumers to reduce their environmental impact
⏭️ What's next: Mastercard is on track to reduce Scope 1 & 2 emissions by 38% and Scope 3 by 20% by 2025, while Visa’s Scope 3 emissions rose slightly in 2023
• Both companies are expanding climate-focused fintech, EV infrastructure, and carbon tracking tools
• The competition for sustainable finance leadership will continue as the sector moves toward ESG-linked innovations
💬 One quote: “By integrating sustainability into financial products and investing in large-scale reforestation, Mastercard sets a higher standard in climate action.” — Business Insider
📈 One stat: Mastercard’s Priceless Planet Coalition has funded 60 million trees, aiming to remove 10 million metric tons of CO₂ by 2030
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