Mastercard Priceless Planet Coalition establishes new site in Yunnan, China, deepening commitment to environmental sustainability

Mastercard, a technology company in the payments industry, announced that its Priceless Planet Coalition (PPC), a global collaborative environmental initiative, established a new site in Yuxi, Yunnan, China. In this collaboration, Mastercard will work alongside Conservation International (CI) and the Yunnan Green Environment Development Foundation (YGF) to restore 150,000 trees (as the first phase) in the designated area of Yuxi City’s Anhua Township, aiming to help restore biodiversity and natural resources, enhance local climate resilience, and improve water security for the community. This development further solidifies the Coalition’s dedication to restoring vital ecosystems worldwide.

Leaders from Yuxi Municipal Government, Yunnan Provincial & local Forestry and Grassland Bureaus, as well as representatives from CI and YGF, witnessed the official launch of the PPC Yunnan Yuxi Restoration Project during a ceremony. Meanwhile, with the network support from Mastercard, the Agricultural Bank of China, China Construction Bank, Ping An Bank, China Guangfa Bank, and King's Joy (the world's first three-Michelin-starred and Michelin-Green-starred vegetarian restaurant), have been named inaugural partners of the project. 

Yunnan is China's most biodiverse province, and Yuxi, a city nestled in its heart, lies at the north front of the Indo-Burma biodiversity hotspot and enjoys distinctive geographical features. Located at Anhua Yi Township, Jiangchuan District, Yuxi City, Yunnan Province, the PPC Yunnan Yuxi site will restore over 150,000 native trees, during its first phase, across a 100-hectare area. According to CI, over the next five years, the project is projected to help capture 3,000 tons of CO2¹, helping to strengthen the region's forests in terms of integrity, stability, and resistance to drought and fire, creating favorable habitats for wild mushrooms, and rejuvenating vegetation in headwater areas, which can improve freshwater supplies.

“It's a great honor to collaborate with partners in introducing the PPC to Yunnan,” said Dennis Chang, executive vice president and division president, Greater China, Mastercard. “Advancing sustainable development and inclusive growth are fundamental to Mastercard's strategy, and Mastercard remains steadfast in our commitment to these values. By harnessing the company’s global network and expertise, Mastercard fosters environmental innovation and win-win cooperation. The company is dedicated to helping China to improve its environment, thereby driving high-quality and sustainable development.”

“Forests harbor rich biodiversity, sequester significant amounts of carbon, conserve water resources, and offer abundant biological products. Therefore, protecting and restoring forests hold immense ecological, climatic, economic, and social value,” said Liu Xiaohai, chief representative, Beijing Office, CI. “We are delighted to join our partners to witness the new starting point of Mastercard’s PPC in Yunnan. Together, we will enhance the region’s biodiversity and strengthen the climate resilience of local forest ecosystems and communities through scientific restoration of forests. Additionally, the project will provide valuable references and insights into forest restoration and sustainable management in southwestern China.” 

Ms. Wu Xia, chairman, YGF stated, “We are glad to collaborate with CI to carry out forest restoration efforts in Yuxi for the PPC. Taking full consideration of nature-based solutions in the process, we plan to use native tree species to construct a forest structure that closely mimics the local natural environment. At the same time, we will also take into account the needs of all relevant stakeholders, ensuring that ethnic minority communities benefit from the restoration work and that we obtain effective support from the Yuxi City Forestry and Grassland Bureau, the Jiangchuan District Forestry and Grassland Bureau, and the Anhua Township Government.”

The Priceless Planet Coalition, launched by Mastercard with Conservation International and World Resources Institute, unites individuals, businesses and corporate partners in taking climate action by funding the restoration of 100 million trees. The coalition includes more than 150 partners globally, each contributing to funding forest restoration through various donation campaigns, which may include encouraging consumers to donate at points of sale, allowing consumers to use  loyalty points linked to payment cards to support tree restoration, or making donations to executing charities of the PPC after  consumers engage in certain activities, such as agreeing to receive paperless statements or when making the purchase of specific products. The coalition's approach integrates scientific expertise, local community involvement, and strategic partnerships to ensure the success and longevity of its restoration initiatives. As of 2023, the Priceless Planet Coalition has grown to over 150 members who have helped support the planting of millions of trees and more than 600 plant species and create 1.2 million workdays for people around the world.

Over the years, People, Prosperity, and Planet have been the key pillars of Mastercard's ESG strategy, and the company has actively promoted sustainability and inclusive growth. In addition to the PPC, Mastercard's other environmentally friendly efforts include:

• In 2018, Mastercard took the lead in the industry by releasing a catalog of sustainable materials. Over the past six years, 685 million Mastercard cards made from certified sustainable materials have been issued in more than 100 countries². In 2023, Mastercard announced that all new Mastercard cards issued globally by 2028 will be made from sustainable materials. 
• In 2021, Mastercard established the world's first “Sustainability Innovation Lab”, dedicated to leveraging innovative technologies and solutions to help 3 billion cardholders make sustainable consumption choices by 2030. 
• Mastercard has developed a Carbon Calculator to help cardholders understand their carbon footprint. Last year, in collaboration with the Credit Card Center of China Construction Bank, Mastercard unveiled an upgrade of one of their featured credit card products, marking the first implementation of the Carbon Calculator in China, and allowing cardholders to clearly understand their impact on the environment and encourage conscious consumption. Learn more about the Priceless Planet Coalition here.
  
  

Learn more about the Priceless Planet Coalition here.

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¹Estimated carbon sequestration is 20 kg of CO2e per tree accumulated over five years, based on low estimates of dry and humid tropical growth rates from global restoration databases.

²Mastercard DigiSec Lab, by the end of Q3 2024