Mastercard has become the latest member of the Boston-based non-profit research institute FCLTGlobal.
Mastercard joins 60 other companies and investors who are looking to use insights and research to enhance the impact of their respective efforts to support a long-term, sustainable economy.
FCLTGlobal develops research and practical tools to help rebalance capital markets by focusing on key areas of governance, incentives, strategy, investor-corporate engagement, and public policy.
Members participate in action-oriented programming, fund ongoing operations, and promote strategies that support increased education and participation by investors worldwide.
Through its partnerships, Mastercard is able to create, support and grow networks for long-term sustainable change that will positively impact the future of the economy and the planet.
Some of the company’s recent efforts include a pledge to reach net-zero emissions by 2050, a $600m sustainability bond offering.
Other initiatives include In Solidarity action plan to combat racism, ongoing work to bring 1 billion people into the digital economy by 2025, and a carbon calculator tool for consumers to track and reduce the estimated carbon footprint of all their purchases.
Mastercard recently introduced plans to link senior executive compensation to Environmental, Social and Corporate Governance (ESG) initiatives, namely carbon neutrality, financial inclusion, and gender pay parity.
“At Mastercard, we understand that the most impact and authentic change happens when our purpose is tied to the business bottom line,” said Sachin Mehra, Chief Financial Officer
“This partnership with FCLTGlobal enables us to use our company’s resources and assets to act in a way that is meaningful and supports long-term, sustainable change.”
Created to develop research and tools for long-term growth
In 2013, Focusing Capital on the Long Term (FCLT) was created as a joint initiative of CPP Investments and McKinsey & Company.
The initiative’s message made it was clear that those who participate in the capital markets could be the ones to improve the system, so CPP Investments and McKinsey partnered with BlackRock, Dow, and Tata Sons in 2016 to create FCLTGlobal as an independent non-profit.
“Mastercard’s mission and recent commitments strongly align with our approach to long-term decision-making – a focus on sustainability, diversity, and forward-looking strategy is proven to drive value over the long term. We’re eager to partner with a company that embodies that mindset,” said Sarah Keohane Williamson, FCLTGlobal’s Chief Executive Officer.