Mastercard garners global support for 100 million trees

09 December 2020
Expo 2020 Dubai, Emirates NBD and Network International have committed to Mastercard’s ‘Priceless Planet Coalition’ which aims to plant 100 million trees across Kenya, Brazil and Australia by 2025

Although “sustainability” was not even a part of our daily parlance not too long ago, today there’s a greater public awareness of the climate challenge, and increasingly more consumers are looking for ways to take action and for more sustainable choices.

Things are also starting to change in the private sector; more companies believe they have an opportunity, and a responsibility, to contribute solutions for the world’s environmental challenges, including climate change. They are thinking about how to embed it into the core of their business and scale the impact to the benefit of individual people, communities and the planet at large.

Other things have changed as well, and not all for the better.

In 2020, we’ve been confronted with multiple global crises affecting both the health of our people and planet including wildfires, floods and some of the most extreme weather events on record. With this in mind, the global community – including the private sector – must continue to reaffirm environmental commitments, and accelerate wherever possible.

Taking direct action

Mastercard’s Priceless Planet Coalition brings together the efforts of merchants, banks, cities, and consumers to take direct action to fight climate change by restoring earth's most vulnerable forests.

The project employs a global approach to not only plant 100 million trees but also to restore forests in the most critical geographies that represent the greatest global need. Areas with the highest potential for positive impacts on climate, community and biodiversity goals are prioritised, guided by Conservation International and World Resources Institute with One Tree Planted and using proven science-based criteria to select, implement and provide long-term monitoring for chosen restoration projects.

Expo 2020 Dubai, Emirates NBD and payment solutions provider Network International have joined the Priceless Planet Coalition this past October as long-term strategic partners. Expo 2020 Dubai itself recently marked Climate and Biodiversity Week, which was the second of ten theme weeks that opens dialogue between some of the world’s brightest minds in the lead up to and during the six months of Expo, to address the most pressing challenges facing the planet.

The project employs a global approach to not only plant 100 million trees but also to restore forests in the most critical geographies that represent the greatest global need.

Partnerships of this scale create the kind of impact that is needed to raise the debate above and beyond the act of making change by planting 100 million trees. Together, the Priceless Planet Coalition aims to also pursue innovation. By encouraging dialogue between some of the world leading experts in the field, Expo 2020 Dubai is creating an environment for the sharing of information and ideas so that collectively, all stakeholders can develop solutions.

Cutting down on carbon emissions, investing in energy efficient offices, using renewable energy sources and preserving a sustainable supply chain are all vital components of what organisations should be doing today, and the pooled resources of a coalition can drive scale, speed and impact.

Joint effort

A coalition of bodies (as opposed to a unilateral effort) is also important because climate change impacts everybody – but also because it is the world’s most vulnerable people in the developing and least developed countries that are disproportionately affected. To rebuild a better world that’s more inclusive and more sustainable, we need widespread commitment from businesses, governments, and consumers to connect, collaborate and work towards a common goal.

By encouraging dialogue between some of the world leading experts in the field, Expo 2020 Dubai is creating an environment for the sharing of information and ideas so that collectively, all stakeholders can develop solutions.

The coalition has identified three restoration locations for the coming year in Kenya, Brazil, and Australia. Restoration efforts in these locations will also serve to protect natural habitats for wildlife and help to restore the balance of nature to parts of the world that have been decimated by deforestation. Beyond these initial projects, the project portfolio will be expanded to include other locations that meet established criteria.  

There is also an important economic factor in the restoration of the planet’s forests. Not only is it a cost-efficient and highly effective solution for mitigating the impact of global greenhouse gas emissions but growing trees brings economic value to local communities: up to $30 for every $1 invested in restoring land. As such, the restoration of the planet’s forests is a matter of environmental, social, and economic importance.

The dazzlingly rich and diverse rainforests must be protected at all costs. The truth is, however, that it is not happening fast enough. With the new partnerships with Expo 2020 Dubai, Emirates NBD and Network International, the Priceless Planet Coalition is one step closer to making a sustainable contribution to the world’s greatest challenge: to stop climate change by righting the wrongs of deforestation and restoring the “lungs of the earth.”

About the author

Kristina Kloberdanz is the chief sustainability officer of Mastercard

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