® Mastercard's sustainability initiatives and key activities during the COP29 period
Mastercard Azerbaijan's sustainability initiatives during COP29 in Baku underscore the company's dedication to environmental, social, and governance (ESG) responsibilities. By spearheading projects that align with global climate objectives, Mastercard aims to foster sustainable growth and mitigate environmental impact. These initiatives reflect Mastercard's corporate rationale of leveraging innovation and collaboration to drive positive change, ensuring a sustainable and inclusive future for all stakeholders. Through strategic partnerships and focused efforts, Mastercard is committed to helping consumers reduce emissions, promoting green mobility, and supporting eco-friendly business practices in Azerbaijan.
Sustainable Urban Mobility Initiatives
In line with COP29’s environmental goals, Mastercard partnered with "Bakı Taksi Xidməti" LLC, ABB, and APAR to introduce sustainable transport in Azerbaijan. This included 700 eco-friendly pedal bikes and 200 electric bikes, with Mastercard offering discounts for its cardholders. ABB Mastercard users received a 50% discount on pedal bike subscriptions, and all Mastercard users enjoyed incentives for electric bike rentals. These initiatives aim to reduce emissions and promote sustainable mobility.
Promotion of Sustainable Payment Cards
Mastercard accelerated efforts to replace PVC plastic cards with environmentally friendly alternatives. By 2026, Mastercard plans to eliminate PVC plastic from payment cards in Azerbaijan, working with local banks to promote sustainable materials. This move supports Mastercard’s broader commitment to reducing plastic waste.
Supporting Small Businesses and Green Financing
Mastercard has been exploring ways to help small businesses adopt green practices. Through collaborations, Mastercard is assisting local enterprises in transitioning to low-carbon operations and providing access to green financing solutions.
Mastercard’s Ongoing Commitment to Sustainability
Mastercard’s actions during COP29 reflect its ongoing commitment to sustainability. The company is focused on achieving net-zero emissions by 2040 and continues promoting environmental stewardship through initiatives such as reducing emissions across its supply chain and supporting green transportation. Mastercard’s efforts will continue to foster a more sustainable and inclusive world, contributing to a greener future for all.
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