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Mastercard’s 2023 ESG Report Outlines Progress Toward Social Impact Goals to Support People, Prosperity and Our Planet

Mastercard’s 2023 ESG Report Outlines Progress Toward Social Impact Goals to Support People, Prosperity and Our Planet

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Mastercard’s 2023 Environmental, Social and Governance Report details how the company is activating its network, services, products, and partnerships to fulfill its commitment to social good. The report highlights progress made towards social impact goals focused on People, Prosperity, and the Planet. Additionally, it details ongoing efforts beyond outlined milestones. Strong governance principles underpin the company’s ESG strategy, ensuring these efforts directly support business success.

Impact in 2023

  • Empowering People: The global median pay gap between female and male employees narrowed to 4%, a 1.7% improvement from 2022. Mastercard remains committed to achieving pay equity.
  • Investment in Black Communities: Since launching the In Solidarity initiative in 2020, Mastercard has invested over $511 million in Black communities in the U.S., exceeding the initial goal two years early. Efforts continue.
  • Girls4Tech Education: The Girls4Tech™ curriculum has educated over 8 million girls since its launch in 2014, surpassing the initial goal two years early. The program’s expansion remains ongoing.

Fostering Global Prosperity

  • Financial Inclusion: In collaboration with partners, Mastercard has connected over 870 million people and 48 million small businesses to the digital economy, nearing its goals of 1 billion by 2025 and 50 million by 2025, respectively.
  • Supporting Women Entrepreneurs: Mastercard surpassed its goal of providing solutions to 25 million women entrepreneurs, reaching 37 million. Continued support through various programs is a priority.
  • Micro and Small Businesses: The Mastercard Strive initiative has reached 12 million micro and small businesses.
  • Community Pass: The Community Pass has registered 5 million users.

Preserving the Planet

  • Decoupling Emissions from Growth: Mastercard achieved a 1% year-over-year decrease in emissions while net revenue grew 13%, demonstrating progress in decoupling emissions from corporate growth.
  • Emission Reductions: Scope 1 and 2 emissions were reduced by 48%, and Scope 3 emissions by 40% in 2023 compared to the 2016 baseline. Additionally, 91% of suppliers reported on Scope 3 emissions to CDP. The company remains on track for its 2025 milestones.
  • Eliminating PVC Plastics: Mastercard accelerated efforts to eliminate first-use PVC plastics from payment cards on its network by 2028.

Related Article: Deloitte Partners with Informatica and Workiva to Revolutionize ESG Reporting

Mastercard emphasizes its commitment to building a sustainable world where everyone prospers. ESG is a core business strategy driving long-term value for stakeholders. The company leverages its people, technology, resources, partnerships, and expertise to create positive lasting impact while building markets for the future.


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