January 11, 2018 // Boston, MA – Trillium Asset Management commends MasterCard, Inc. for setting an absolute reduction target for scope 1 and 2 greenhouse gas (GHG) emissions and for further committing to pursue a science-based reduction target in the next two years. Once this science-based target is established it means MasterCard will be playing its part to limit global temperature rise to the internationally agreed upon 2°C limit.
Trillium believes these targets will propel the company to meaningful emissions reductions that are necessary for the planet, while also generating bottom line benefits. One study from the World Wildlife Fund, CDP, and McKinsey & Company found companies with GHG targets achieved an average of 9% better return on investment than companies without such targets.
While these commitments are the culmination of an ongoing engagement and shareholder proposal that Trillium filed in 2016, alongside the Sustainability Group of Loring, Wolcott & Coolidge, we are also pleased with the additional work MasterCard has undertaken to strengthen its approach to sustainability. To wit, MasterCard appointed Executive Vice President of Corporate Sustainability, Shamina Singh, contracted a reputable sustainability consultant to aid in the target setting process, and restructured its staff to better track its climate change strategies and policies. These steps, combined with its new GHG ambitions, position MasterCard as a company that is striving to do its part to address climate change.
For more information: Caroline White, Communications Manager, cwhite[at]trilliuminvest.com
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