As Earth’s inhabitants, we must work towards a sustainable solution for the planet. Because of that goal, leading payments solutions company Mastercard created its Sustainable Card Program.
The program was created in 2018 with over 330 issuers from 80 countries collaborating with one of the largest card manufacturers to switch over 168 million cards on its network to recycled and bio-based materials.
The goal is to make newly produced Mastercard plastic payment cards from more sustainable materials, such as recycled or bio-sourced plastics like rPET (recycled polyethylene terephthalate) or PLA (Polylactide), by 2028. Mastercard’s support for its international issuing partners will make transitioning from virgin PVC (Polyvinyl chloride) easier.
The chief sustainability officer, Ellen Jackowski, at Mastercard, stated, “Mastercard is committed to advancing climate action and reducing waste by driving our business towards net zero emissions and leveraging our network and scale to accelerate the transition to a low-carbon, regenerative economy.”
The company’s efforts to develop cutting-edge, digital-only card programs that do away with the need for physical cards are complemented by this development.
Retailers face a clear opportunity and difficulty due to the sustainability movement, which may be motivated by moral, financial concerns, or both. After all, they’re attempting to attract and keep customers who care about the environment.
According to Mastercard statistics, over 2.5 billion mastercards are in circulation worldwide. Imagine the damage that will be caused to the environment when these cards are not appropriately disposed of or recycled.
Mastercard started working on environmental sustainability issues over a decade ago, concentrating on data accountability, inclusive growth, and financial inclusion. The company has recently increased its ecological sustainability measures, establishing (and subsequently accelerating).
This planet is ours to live on and protect; if we do not do so, we will be causing ourselves a lot of harm. As an individual, community, or organization, producing and using green products will go a long way. Mastercard is heavily invested in sustaining green earth by producing only eco-friendly cards in the future.
How do you think this will affect the environment? Share your thoughts in the comments section below.
Image by Primakov