Doing well by doing good: ESG report 2022June 5, 2023 | By Michael Miebach
Our ambition at Mastercard is to power economies and empower people.
These are simple words, yet the effort to make them a reality is complex. It requires commitment. It requires prioritization. It is strengthened by the understanding that every action we take has an impact.
We continually work toward this core goal, building on an understanding that inclusion and diversity in all its forms makes us stronger as a team and as a business. This work helps ensure that there is a healthy world for us to operate within. It delivers on the expectations of our employees, our customers and our partners.
It is these efforts that help us create and sustain long-term value for our shareholders.
Our 2022 environmental, social and governance report details how we measured our progress. Some look at it through the lens of people, prosperity and planet. Others approach it in terms of environmental, social and governance. No matter the words or the acronyms, it’s work that must be done.
All 30 thousand employees at Mastercard play a role in this effort. In fact, we have taken the step to tie every employee’s compensation to these goals. In 2022, we focused on three specific areas:
- Carbon reduction: Reducing our scope 1 and 2 greenhouse gas emissions, while also ensuring our suppliers have their own science-based emissions reduction goals
- Financial inclusion: Bringing more people (prospective Mastercard credential holders) into the digital economy
- Gender pay parity: Working to drive equity in the median pay for men and women
As you review the progress that has been made, know that this report is simply the latest transparent snapshot of our continuing journey. This is not the end destination. And these efforts go hand-in-hand with the financials we report each quarter. There is no daylight between them.
To do our part to create that world, we move with intention and with pace. It’s about setting — and then being accountable to — standards and principles. It’s recognizing the responsibility to ensure technology helps, not hurts — that new innovations are trusted. It's about providing people with the resources to support their desire for "sustainable consumption." It’s about addressing real problems and delivering real value.
That’s not only philanthropy — that’s good business. It’s also the right thing to do. That’s the work we do each day. That’s the commitment we made and the actions we take — to be a strong corporate citizen and the strongest possible business all at once.