Starting january 1, 2028, all new production plastic payment cards will be required to be made from more sustainable materials - including recycled or bio-based plastics, such as rPVC, rPET or PLA 1 - and approved through a certification program, in a first-of-its-kind move for a payment network. The company will support its global issuing partners during the transition from virgin PVC.

Mastercard launched its Sustainable Card Program in 2018. Since then, more than 330 issuers in 80 countries have joined the program, working in partnership with leading card manufacturers to convert more than 168 million cards in its network to recycled and bio-based materials. Today's announcement further accelerates these efforts, while complementing the company's work to deliver innovative digital card programs that eliminate the need to offer physical cards altogether.

Mastercard will certify all newly manufactured cards to assess their composition and sustainability; this certification will be validated by an independent auditor. Once validated, the card will be eligible to be imprinted with the Card Eco Certification mark.

"At Mastercard, we are leading and shaping our industry's collective effort to achieve a more sustainable and environmentally conscious future", said Ajay Bhalla, president of Cyber and Intelligence at Mastercard. "As our customers respond to consumers' growing desire to make more environmentally friendly choices, we are firmly committed to reducing our environmental footprint for the benefit of people, the planet and inclusive growth".

Mastercard established its sustainability efforts more than a decade ago with a focus on financial inclusion, data accountability and the environment. Through its network, it collaborates with partners to bring environmental innovations and initiatives to market, such as our Priceless Planet Coalition, Carbon Calculator and Sustainable Card.

"Mastercard is committed to promoting climate action and reducing waste, driving our business toward zero net emissions and leveraging our network and scale to accelerate the transition to a regenerative, low-carbon economy", said Ellen Jackowski, Mastercard's Chief Sustainability Officer.

Comments from allied banks:

Taylan Turan, Group Head of Commercial Banking, Strategy, Wealth and Personal Banking at HSBC, commented: "Today's announcement from Mastercard is a breakthrough in financial services.

New sustainable materials, such as rPVC, offer our industry a clear way to accelerate its efforts to build a more sustainable future.

As part of our zero emissions strategy, at HSBC we have already introduced recycled plastic cards in 28 of our global markets and integrated the requirement to use sustainable materials for all commercial, debit and credit cards into our product management, eliminating 85 tons of plastic that would have ended up in landfill.

This level of impact could not be achieved without a strong partnership; I am very proud that we are part of a movement that is gaining momentum around the world. Michael Battagliese, Head of Payment Solutions, Senior Vice President, Bank of the West 2 commented, "We believe that doing business sustainably is the right thing to do. That's why we have partnered with Mastercard on our 1% For The Planet Checking Account debit cards, which are designed to reduce the impact of first-use PVC on the environment. We are proud to have been one of the first U.S. banks to be part of the sustainable card program and are pleased that Mastercard is embarking on the path of making all payment cards from more sustainable materials".

Helen Bierton, Head of Banking at Starling Bank, said, "This initiative is a very positive step on the road to a sustainable future. As one of the first banks to remove first-use PVC from our debit cards, we know how important this is to our customers.

"We recognize that this can only be achieved with strong partnerships and by supporting Mastercard's efforts to expand the program across its network".

In 2018, through Mastercard's Digital Security Lab, Mastercard launched the Greener Payments Partnership with card manufacturers Gemalto, Giesecke+Devrient and IDEMIA to reduce the use of first-use PVC plastic in card manufacturing. Participating banks in Mastercard's initiative span more than 80 countries around the world. In 2021, it launched the Mastercard Card Eco-Certification (CEC) program.

Driving a more sustainable future

Addressing the global climate crisis will require all of us. Mastercard can make the greatest impact by activating our global network to create collective action. Our network includes 20,000 customers and banking partners that collectively reach more than 3 billion cardholders. Through this network, we collaborate with partners to bring environmental innovations and initiatives to market, such as the Priceless Planet Coalition, the Carbon Calculator and the Sustainable Cards Program. In addition, we collaborate with the public, private and social sectors to drive the next generation of climate innovation. Our Sustainability Innovation Lab serves as an R&D center for sustainable digital products and as a platform for co-creation with partners.

Translated by: A.M