Mastercard has developed the Priceless Planet Coalition in Australia, inviting local organisations to come onboard and take collective action against climate change.
The Priceless Planet Coalition unites the efforts of merchants, banks, cities, and consumers to fight climate change through the restoration of 100 million trees over five years – together with forestry experts Conservation International (CI) and World Resources Institute (WRI).
“In Australia, through the Priceless Planet Coalition, Mastercard is empowering its network of partners and consumers who share its commitment to being a force for good in the world to unite in action and create exponential impact for the environment. Mastercard welcomes all Australian organisations, big or small, to get involved,” Mastercard division president for Australasia, Richard Wormald said.
Partners of the Priceless Planet Coalition include Associated Bank, Barclays Bank US, Charity Change, Doconomy, Emirates NBD, Eurobank, Frontier Airlines, HSBC, among many others. These new partners join existing coalition members American Airlines, bunq, Citibank, L.L. Bean, the New York Metropolitan Transit Authority, Saks Fifth Avenue, and Santander UK.
In Australia, Archa and 1derful have joined the coalition and the Sydney Opera House is looking to support Mastercard in its Priceless Planet efforts.
Core to the Priceless Planet Coalition’s mission is empowering and inspiring consumers to take action against climate change. Mastercard continues to develop environmentally conscious solutions that enable more people to embrace a sustainable lifestyle through their spending choices.
A collaboration with Swedish fintech start-up Doconomy enables people to track, understand and take accountability of their environmental footprint through digital tools that set a new standard for purpose-driven payment solutions.
For people interested in contributing to reforestation projects and other environmental causes, Mastercard donation platform and soon-to-be-available mobile app enable direct donations to the reforestation partners of the Priceless Planet Coalition and roundup everyday purchases.
Mastercard is also embedding the coalition into loyalty programs run on behalf of issuers and merchants. For example, the company will enable cardholders to redeem reward points for trees through their gift catalogue and in real time through Mastercard Pay with Rewards.
To enable issuers to offer cards made from more sustainable materials, Mastercard recently launched the Sustainable Materials Directory, encouraging wider adoption of certified eco-friendly solutions. Mastercard has approved 34 different sustainable card products to date, which have been issued by more than 60 financial institutions.