Visa Deepens Global Commitment

Visa, a global payments technology company, has announced a new commitment to reach zero emissions by 2040 as well as how the company achieved carbon neutrality across its operations in 2020.

The tech giant also outlined plans to become a climate positive company through new partnerships and expanded initiatives to support sustainable commerce and the transition to a low-carbon economy beyond the company’s own footprint.

Al Kelly, Chairman and Chief Executive Officer of Visa, said: “Visa is committed to creating a more sustainable future. 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.”

As part of the commitment to reach net-zero emissions by 2040, Visa announced it is a new signatory of The Climate Pledge, an initiative co-founded by Amazon and Global Optimism, as well as a new member of the Climate Business Network, a World Wildlife Fund (WWF) initiative to accelerate action toward a net-zero future.

Visa’s net-zero commitment is aligned with emerging global standards and definitions and will include efforts with suppliers to abate a significant portion of the greenhouse gas footprint of the company’s purchased goods and services.

Visa also has committed to set science-based targets through the Science Based Target initiative at the 1.5 degree Celsius ambition level. These new commitments join Visa’s existing sustainability leadership, including its transition to 100 percent renewable electricity usage in 2020.

Chief Sustainability Officer at Visa, Douglas Sabo, said: “This Earth Month Visa is using the power of our network to accelerate transformation in sustainability and economic recovery, while helping to ensure that the planet and economies around the world thrive.

“By prioritising 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.”