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Mastercard enables consumers to choose a sustainable future with green cards

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Mastercard enables consumers to choose a sustainable future with green cards

New certification and recycling programs to inform consumer choice

ACCRA, Ghana, June 9, 2021 – / African Media Agency (AMA) / – According to a recent study by Mastercard, 58% of consumers are more aware of their impact on the environment, and 85% are willing to take personal action this year.

Today, Mastercard makes this promise easier to fulfill with a new badge to identify cards made more sustainably from recyclable, recycled, bio-based, chlorine-free, degradable, or ocean plastics. Easy to identify on the card, the badge is a simple reminder of the commitments made to address sustainability concerns.

“People want brands to behave in a more sustainable and ecological way. But making it happen in extended supply chains with multiple partners can be more complicated than setting a goal, ”says Ajay Bhalla, President, Cyber ​​& Intelligence, Mastercard. “With this sustainable badge, certification and recycling program, we have a real opportunity to address each of these issues and bring confidence to sustainable options as we collectively move towards a more circular economy.”

Mastercard’s Sustainable Materials Directory, established last year, aims to help issuers offer greener cards to consumers. More than 100 financial institutions, including Banco Santander and Starling Bank, offer sustainable Mastercard programs in more than 30 countries.

Producing cards made with more sustainable materials is an important step. To expand the impact of these efforts, Mastercard and Giesecke + Devrient (G + D) have developed a new program that helps people easily recycle their cards.

How the certification and recycling program works

Cards bearing the sustainable card badge will be verified by an independent certification program, the first of its kind, that evaluates sustainability claims. Using current industry benchmarks, cards will be certified if they significantly reduce energy consumption, material consumption, carbon footprint and waste. Each year, the benchmarks will improve as overall sustainability levels improve, and will continue to contribute to better environmental stewardship.

Mastercard and G + D will offer a toolbox of recycling solutions that can be optimized for specific issuer, market and material needs. This is based on the Greener Payments Association (GPP) was formed in 2018 to reduce first-use PVC plastic in card making.

“Our vision of our sustainability offering goes beyond the production of an ecological card,” explains Mikko Kähkönen, responsible for the smart card portfolio at G + D. “Our purpose is to offer our banking customers the services they need to implement its own sustainability strategy, and also to face industry challenges such as payment card recycling. A growing number of eco-conscious consumers are calling on G + D, banks and industry leaders like Mastercard to collaborate on these types of solutions to serve future generations and protect our environment. ”

Help consumers contribute to the future of the planet

With a growing consumer passion for the environment, Mastercard continues to develop products and programs that help consumers contribute to the future of the planet, supporting an inclusive and sustainable digital economy. In 2020, Mastercard created the Priceless Planet Coalition, which unites the efforts of merchants, banks, cities and consumers to restore 100 million trees and help combat climate change. The company also launched the Mastercard carbon calculator in collaboration with Swedish fintech Doconomy. This tool enables banks to equip consumers with carbon impact data and insights and offer them ways to contribute to reforestation through the Priceless Planet Coalition.

For more information on the new certification scheme and the Sustainable Mastercard badge, please contact Sustainable.cards@mastercard.com

Short Link: https://wp.me/pcj2iU-3AuA

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