Global payment giant Mastercard recently announced that it is accelerating efforts to remove first-use, PVC plastics from payment cards on its network by 2028. This means that all newly made payment card across its network are to be made eco-certified by the next five years.

As of January 1, 2028, the payments and technology company said that all newly-produced Mastercard plastic payment cards will be made from more sustainable materials comprising recycled or bio-sourced plastics such as rPVC, rPET, or PLA and approved through a certification programme, a move it said was first to be done for a payment network. The company said it will be supporting its global issuing partners to transition away from the use of less environmentally friendly virgin PVC now used in cards.

The move, which Mastercard said was in keeping with its global sustainability commitment, will also offer customers with safe solutions to reduce the environmental impact of their wallet. The rule change will see all newly made cards certified by Mastercard assessing their composition and sustainability claims; after which their certification will then be validated by an independent third-party auditor. Once a card has been validated, it can then be imprinted with a Card Eco Certification mark.

Mastercard, having rolled out its Sustainable Card Program back in 2018, has since then had over 330 of its issuers across some 80 countries working in partnership with major card manufacturers to transition the more than 168 million cards across its network to recycled and bio-based materials. Through its latest move, the company therefore seeks to accelerate ongoing efforts while complementing its work to deliver innovative, digital-first card programmes that fully eliminate the need for a physical card offering.

“At Mastercard we are leading and shaping our industry’s collective pursuit of a more sustainable, more environmentally conscious future. As our customers respond to increased consumer desire to make more eco-friendly choices, we are making a firm commitment to reducing our environmental footprint – for the benefit of people, planet and inclusive growth,” said Ajay Bhalla, president of Cyber & Intelligence at Mastercard.

“Mastercard is committed to advancing climate action and reducing waste by driving our business toward net zero emissions and leveraging our network and scale to accelerate the transition to a low-carbon, regenerative economy,” added Ellen Jackowski, chief sustainability officer for Mastercard.

Mastercard, which has established its sustainability efforts more than a decade ago, in recent years has its focus on financial inclusion, data responsibility and the environment. Through a growing global network it collaborates with partners to bring new environmental innovations and initiatives to market, such as our Priceless Planet Coalition, Carbon Calculator as well as the Sustainable Card. In 2021, the company also launched its Card Eco-Certification (CEC) scheme.

Mastercard’s participant banks span more than 80 different countries worldwide including Jamaica.

“Tackling the global climate crisis will take all of us. Mastercard can have the biggest impact by activating our global network to create collective action. Through this network, we are collaborating with partners to bring new environmental innovations and initiatives to market, such as our Priceless Planet Coalition, Carbon Calculator and Sustainable Card Program,” a company statement stated.

“We’re partnering across the public, private and social sectors to drive the next generation of climate innovation. Our Sustainability Innovation Lab serves as a research and development [R&D] centre for sustainable digital products and a platform to co-create with partners,” it further noted.