Toward our goal of net zero greenhouse gas emissions by 2040, we aim to reduce Mastercard’s absolute emissions by our science-based targets of 38% for Scope 1 and 2, and 20% for Scope 3 by 2025, from our 2016 base year.
Mastercard’s commitment to environmental sustainability begins with decarbonization of our operations and across our supply chain. We aim to reduce overall greenhouse gas (GHG) emissions and work with our suppliers and employees to do the same. Our decrease in Scope 1 and 2 emissions is driven by several key factors, including: increase in renewable energy production, decrease in energy usage from capital projects and decrease in U.S. Environmental Protection Agency (EPA) eGrid emission factors. To reduce our supply chain emissions, which account for 78% of Mastercard’s total global emissions in 2023, we actively engage suppliers around a four-stage model that encourages suppliers to disclose their emissions footprint by reporting and allocating annual emissions (i.e., CDP Climate Change Questionnaire); leverage educational resources, both Mastercard and external, to aid suppliers in advancing their environmental management practices and performance; evaluate and align on key performance indicators, including setting science based targets to support emission reduction goals; and collaborate with us on projects and programs to reduce and allocate emissions.
In 2023, Mastercard’s Scope 1 and 2 emissions were 48% less than in 2016, Scope 3 emissions were 40% less than in 2016, and total Scope 1, 2, and 3 emissions were 41% less than in 2016.