Commercial, GHG Emissions - April 21, 2021
Visa Achieves Carbon Neutrality, Commits to Net-Zero Emissions
As Visa announced on April 21 that its operations became carbon-neutral in 2020, the company also pledged to reach net-zero emissions by 2040 and shared its plan to ultimately become climate positive.
“Visa is committed to creating a more sustainable future,” said Al Kelly, chairman and chief executive officer of Visa, in a statement. “Our new net-zero commitment and enhanced efforts across our network in support of sustainable initiatives are immediate ways we will achieve our goals to help build a better future for our planet.”
One goal is already achieved: Visa transitioned to 100% use of renewable energy in 2020. Building on this accomplishment, the company now intends to reach net-zero emissions by 2040 - a full ten years ahead of the Paris Climate Agreement’s 2050 goal.
As part of its progress towards net-zero emissions, Visa has signed The Climate Pledge (co-founded by Amazon and Global Optimism) and has joined the Climate Business Network, a net-zero future World Wildlife Fund (WWF) initiative. It is currently in the process of setting targets aligned with the Science Based Target initiative (SBTi). These efforts will include working with Visa’ suppliers to reduce their GHG emissions.
“This Earth Month, Visa is using the power of our network to accelerate transformation in sustainability and economic recovery, while helping ensure that the planet and economies around the world thrive,” said Douglas Sabo, chief sustainability officer of Visa. “By prioritizing clean energy and sustainable practices, investing in environmentally innovative initiatives, and engaging with corporate and civil society leaders on climate, we are committed to being a part of the global solution to climate change.”