Mastercard and Ant Group tie up to promote green action among a billion people

Karthik Subramanian

Mastercard, Ant Group, and BBVA are some of the financial and technological firms, among others, that have tied up to promote a very large green initiative to promote environment-friendly activities.

There has been a lot of demand for accountability towards the environment from various industries and also from the government and regulators in each and every industry. The financial services industry also cannot be immune to these changes that are happening around the world as the awareness and the need to protect the environment has grown. Various companies have been focussing their effort on green initiatives and also have been trying their best to become carbon neutral in due course of time.

In fact, becoming carbon neutral is likely to be a key criterion for evaluating companies in the future and it is likely that the government and the people are likely to support those companies with zero carbon footprint than others as the air around us becomes very dirty and impure.

As part of this initiative, thats was launched by the Green Digital Finance Alliance, the coalition of companies has set itself a target of one billion digital green champions by the year 2025. Each company will undertake several initiatives in this regard with Mastercard looking to integrate all its card partners into a reforestation initiative while Ant Group is looking towards individuals to reduce their carbon footprint, by taking the bus to work instead of car and similar such activities.

Kristina Kloberdanz, chief sustainability officer, Mastercard, says the coalition “reinforces our commitment to building an inclusive and sustainable digital economy – where people and the planet can thrive – as we bring innovations and initiatives to market that help people understand the environmental impact of their behaviour”.

The environmental impact of the various actions performed by the financial services industry including trading, crypto mining, usage of huge servers, etc has become the focus in recent times and people and the authorities have started demanding accountability from the industry. This is the reason why we are seeing the industry respond to the critics with fast and quick plans to ensure that the industry adopts environmentally sustainable practices which will help it to move towards zero carbon footprint in the long run.

Read this next

Digital Assets

Coinbase CEO says Chase UK’s ban on crypto “totally inappropriate”

Coinbase CEO Brian Armstrong criticized Chase UK’s decision to restrict cryptocurrency-related transactions in the UK. He called the move “totally inappropriate” and expressed his disagreement with the bank’s decision to ban its UK customers from conducting debit card or wire transfers related to cryptocurrencies.

Digital Assets

Binance CZ refutes any connection with CommEX

Changpeng “CZ” Zhao, the founder and CEO of Binance, has denied being the owner of CommEX, the company that reportedly acquired Binance’s business in Russia.

Institutional FX

Refinitiv’s spot FX volumes hit 8-month low

Refinitiv, the former Financial and Risk business of Thomson Reuters, today reported that the average daily volumes (ADV) of currency trading were $424 billion last month on the company’s main FX trading services.

Executive Moves

Integral hires industry veteran Paul Arnold as liquidity manager

Integral, a technology provider to the financial markets’ buy-side, has appointed Paul Arnold, a highly experienced FX industry professional, as its liquidity manager, according to information made public on his Linkedin profile.

Digital Assets

Terraform’s Do Kwon challenges US extradition request

Do Kwon, the crypto entrepreneur and former CEO of Terraform Labs, is opposing the U.S. Securities Exchange Commission’s request to question him about the crash of his company’s stablecoins Terra and Luna.

Digital Assets

Coinbase gets nod to offer futures for retail customers

Coinbase International Exchange has received regulatory approval from Bermuda’s financial regulator, the Bermuda Monetary Authority (BMA), to allow eligible non-US retail customers to trade perpetual futures contracts.

Inside View

How brokers can win the trading tech wars: Insights from iFX EXPO 2023

Last week’s iFX EXPO International 2023, held at the City of Dreams Mediterranean Integrated Resort in Limassol, Cyprus, welcomed a series of insightful discussions. A panel that particularly stood out focused on the role and evolution of trading technology.

Crypto Insider

Web3 Transformation: Radix’s Babylon Update Redefines User and Developer Engagement

Radix Publishing leaps forward in the decentralized world with the release of the Babylon mainnet upgrade, bridging the gap between innovative tech and user-friendly DeFi experiences.

Digital Assets Joins Forces with PayPal and Paxos for Enhanced PYUSD Exchange Experience collaborates with PayPal and Paxos to fortify its position as the premier exchange for PYUSD, marking a significant milestone in the global crypto landscape.