Energy Efficiency, Commercial, Sourcing Renewables - March 8, 2021
Mastercard issues $600 million sustainability bond
Mastercard announced March 3 that it successfully priced a $600 million Sustainability Bond that will fund projects in carbon reduction, supporting environmental choices for customers and fostering inclusive growth.
The global payments company priced the 10-year bond at a fixed rate of 1.90% and will use it to fund green and social projects from the eleven core areas of its Mastercard Sustainability Financing Framework: green buildings, energy efficiency, renewable energy, eco-efficient products, pollution control, sustainable land management, climate change adaptation and three concerning social impact. The bond reflects a continuation of Mastercard’s progress toward achieving net zero emissions by 2050.
“No matter where you work or live, we are all in the sustainability business; the future of people, our planet, and the economy are inextricably linked,” CEO Michael Miebach said in a statement. “To deliver positive social and environmental impact at scale companies need to invest in the technology, insights, and partnerships to make programs commercially sustainable for the long term. Our Sustainability Bond will support both social and green initiatives to drive inclusive and sustainable growth for our company and the communities we serve around the world.”
Previous achievements by Mastercard in sustainability include achieving 100% renewable electricity and being the first in the payments industry to have its emissions goals approved by the Science Based Target initiative (SBTi).