- Sustainability Strategy and Goals
- Progress vs. Target Tracker
- Key Sustainability Innovations and Technologies
- Measurable Impacts
- Challenges and Areas for Improvement
- Future Plans and Long-Term Goals
- Comparisons to Industry Competitors
- Payments Sector Sustainability Metrics
- What to Watch: 12 to 18 Month Indicators
Visa, the global payments technology network processing 303 billion transactions annually across more than 200 countries and territories, embeds sustainability within its three-pillar framework of Planet, People, and Economies. The company achieved operational carbon neutrality in 2020 and holds a Science Based Targets initiative (SBTi) approved commitment to reach net-zero emissions across its full value chain by 2040, at least ten years ahead of the Paris Climate Agreement’s default 2050 timeline. Visa’s 2024 Corporate Responsibility and Sustainability (CR&S) Report, available via its ESG resources hub, covers Fiscal Year 2024 (October 1, 2023 – September 30, 2024) and serves as the primary reference for progress metrics across climate, inclusion, and supply chain.
Source
https://corporate.visa.com/en/about-visa/crs.html
https://corporate.visa.com/en/about-visa/crs/planet.html
Sustainability Strategy and Goals
Visa’s formal sustainability strategy is structured around reducing its own operational footprint, decarbonizing its supply chain, and using its payments network as a channel for sustainable commerce at scale. Its SBTi-validated near-term targets, updated in FY2024, align with a 1.5°C temperature pathway and set binding reduction milestones for FY2030 against a FY2019 base year. The broader strategy supports UN SDG goals on inclusive economic growth, climate action, and responsible consumption.
Net Zero and Carbon Emissions
Visa’s net-zero pathway runs from a FY2019 base year to a FY2040 endpoint, validated by the SBTi and covering Scope 1, 2, and 3 emissions. In FY2024, Visa updated its science-based near-term targets, tightening ambitions compared to the prior FY2020-baseline set it had previously reported.
- Near-term target: 81.22% reduction in absolute Scope 1 and 2 GHG emissions by FY2030 vs. FY2019
- Near-term target: 46.2% reduction in absolute Scope 3 GHG emissions by FY2030 vs. FY2019
- Long-term target: 90% reduction across Scope 1, 2, and 3 by FY2040 vs. FY2019
- Visa reported approximately 24% reduction in Scope 1 and 2 emissions since FY2020, as disclosed in the FY2023 CR&S Report published in 2024
- Total GHG emissions in FY2024: approximately 700,120 metric tonnes CO₂e across Scope 1, 2, and 3
- Scope 1 in FY2024: approximately 13,510 metric tonnes CO₂e; Scope 2 location-based: approximately 73,448 metric tonnes CO₂e
- Scope 3 in FY2024: approximately 613,162 metric tonnes CO₂e, representing 87.6% of Visa’s total footprint
Water Stewardship
Visa manages water primarily in the context of data center operations, where cooling systems represent the most significant point of consumption. The company invested $1.5 million from its green bond proceeds into sustainable water and wastewater management projects, specifically targeting data center cooling efficiency improvements.
- Data center efficiency projects are forecast to conserve more than 5 million gallons of water per year
- Visa is piloting innovations including waterless cooling, water reuse systems, direct expansion cooling, and immersion cooling in its data center infrastructure
- These upgrades target a 30% reduction in data center water use, with the central U.S. data center identified as the lead site for the waterless cooling rollout
Regenerative Agriculture
Visa does not operate direct agricultural programs; its contribution to this area is channeled through financial inclusion tools that serve smallholder farmers and rural economies in emerging markets. The company’s Grow Asia partnership, where Visa holds a co-chair position on the Business Council since 2023, accelerates fintech-driven financial inclusion solutions designed to serve agricultural communities across the Asia-Pacific region.
Deforestation and Biodiversity
Visa’s engagement on deforestation is primarily through the Visa Eco Benefits bundle, which enables cardholders to donate to organizations such as One Tree Planted when using Visa cards. The company does not operate a proprietary large-scale reforestation program equivalent in scope to Mastercard’s Priceless Planet Coalition. Visa does include forest preservation and reforestation projects within its carbon offsets portfolio to cover residual operational emissions.
Packaging and Circular Economy
Visa’s circular economy commitments target the materials used in payment cards issued across its global network. Through the Visa Eco Benefits bundle, launched initially in Europe and then globally, the company provides access to sustainable card materials in collaboration with CPI Card Group.
- The Visa Eco Benefits bundle offers issuers the option to source sustainable card materials as part of a broader sustainability-focused feature package
- Visa’s green bond allocated funds to the construction and operation of highly efficient buildings with focus on energy and water efficiency, qualifying under multiple SDG categories
- The full $500 million green bond, believed to be the first issued by a digital payments network, was drawn down three years ahead of its original schedule
- Digital receipts are offered as a standard feature through Eco Benefits, reducing paper waste across millions of transactions
Human Rights and Responsible Sourcing
Visa’s FY2024 Modern Slavery Transparency Statement, published under the UK Modern Slavery Act 2015, describes the company’s supply chain risk management processes and expectations for all onboarded suppliers. Visa requires all suppliers to receive and adhere to the Supplier Code of Conduct as a condition of onboarding, with Global Sourcing and Risk staff trained on modern slavery risk identification.
- Visa’s ESG in the Supply Chain Programme is sponsored by Visa Europe CEO Charlotte Hogg and governed by a senior global steering committee
- The program uses supplier sustainability scorecards from CDP, EcoVadis, and Tealbook to measure and track ESG performance across tier 1 suppliers
- Supplier emissions from purchased goods and services constitute more than 84% of total Scope 3 emissions in FY2024
- Visa implemented a GHG management software solution in FY2024 to map tier 1 suppliers and gain visibility into supply chain intervention options
Nutrition and Health
Visa does not operate in the food, beverage, or agriculture sector and does not publish nutrition-specific targets. The company’s health-adjacent sustainability work focuses on consumer financial resilience and digital access to services, including food-sector digital payments as an enabler of economic stability for underserved communities.
Community and Social Impact
Visa’s Prosperity pillar channels its inclusion work through the Visa Foundation, corporate programs, and SMB enablement tools. The Visa Foundation released its inaugural Impact Report in March 2024, documenting six years of grantmaking since its founding.
- Visa Foundation has supported more than 4 million SMBs across 60 countries, created more than 1 million jobs, and invested more than $2 billion in local communities
- Visa digitally enabled approximately 67 million SMBs globally, exceeding its stated goal of 50 million by FY2023, of which 29.6 million are in APEC economies
- In Africa, an estimated 500 million people remain without access to formal financial services, with fewer than 50% of adults making or receiving digital payments
- Visa’s Practical Money Skills program offers more than 75 online learning modules in 7 languages, providing free financial education globally
- Visa directed $100 million in deposits to Minority Depository Institutions (MDIs) as of February 2023, enabling an estimated $1 billion in new lending across Asian, Black, Hispanic, and Native communities
Governance and Transparency
Visa publishes its CR&S Report annually aligned with GRI, SASB, TCFD, and CDP frameworks. The company submits a full CDP Climate Response questionnaire annually; the 2025 CDP submission documents FY2024 emissions and target progress. Its green bond reporting is independently verified, with management assertions prepared against allocated project spending.
Technology and Innovation
Visa’s climate technology investments focus on three areas: sustainable payment products, consumer behavior tools, and operational infrastructure upgrades. Through its Fintech Partner Connect program, Visa works with ecolytiq to deliver “sustainability-as-a-service” to financial institution clients, including consumer carbon footprinting, context-based education, and access to high-quality carbon offsets. Visa also integrates EV charging payment infrastructure as a climate-aligned revenue growth opportunity, which it has classified as a material positive financial impact in the mid-term horizon through its TCFD scenario analysis.
Global Partnerships and Advocacy
Visa is a founding member of Brands for Good, an industry initiative that uses brand platforms to make sustainable living more attractive to consumers. It serves as a founding partner in Travalyst, an alliance focused on advancing transparency and sustainable choices in global travel and tourism. Visa signed The Climate Pledge, co-founded by Amazon and Global Optimism, committing to carbon neutrality by 2040 or earlier.
Source
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2025-visa-cdp-response.pdf
https://net0tracker.com/corporates.html/Visa%20Inc./
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2024-visa-green-bond-report.pdf
https://corporate.visa.com/en/about-visa/crs/people-economies.html
https://investor.visa.com/news/news-details/2024/Visa-Foundation-Helps-To-Uplift-More-Than-Four-Million-SMBs/default.aspx
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/documents/2023-corporate-responsibility-sustainability-report.pdf
https://corporate.visa.com/en/sites/visa-perspectives/company-news/building-sustainable-thinking-into-the-supply-chain.html
https://usa.visa.com/dam/VCOM/global/about-visa/documents/visa-modern-slavery-act-transparency-statement.pdf
https://corporate.visa.com/en/about-visa/crs/resources.html
https://carboncredits.com/visa-vs-mastercard-strong-earnings-meet-rising-climate-pressure/
https://km.visamiddleeast.com/en_KM/visa-everywhere/blog/bdp/2021/04/26/a-sustainable-future-1619408865246.html
https://ffnews.com/newsarticle/visa-announces-the-visa-eco-benefits-sustainability-bundle-to-empower-issuers-to-meet-climate-con
Progress vs. Target Tracker
Source
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2025-visa-cdp-response.pdf
https://net0tracker.com/corporates.html/Visa%20Inc./
Key Sustainability Innovations and Technologies
Visa’s innovation program spans operational infrastructure, consumer-facing digital tools, payment network integration, and sustainable commerce partnerships.
The Green Bond Infrastructure Program deployed $500 million across five categories: green building construction and leasing, energy and water efficiency improvements, renewable energy expansion, employee commuter programs, and sustainable consumer behavior initiatives. The full allocation was completed three years ahead of schedule, with $109 million allocated in the April 2023–March 2024 reporting period alone. Scope 2 GHG emissions avoided from renewable electricity purchases in FY2023 totaled 66,860 metric tonnes CO₂e, and energy efficiency improvements avoided an additional 1,073 metric tonnes CO₂e compared to FY2022.
The ecolytiq Sustainability-as-a-Service platform gives Visa’s financial institution clients the tools to offer their cardholders real-time carbon footprint data by transaction category, contextual sustainability education, and direct access to high-quality carbon offset projects. This model positions Visa as an infrastructure provider for sustainable finance across thousands of issuer banks.
The EV Charging Payment Integration program addresses the consumer transition to electric vehicles by partnering with major EV charging station operators to enable seamless Visa contactless payments at charging points worldwide. Visa’s TCFD scenario analysis classified EV charging transactions as a material positive financial opportunity in the mid-term horizon, embedding decarbonization into the company’s commercial growth strategy.
The Waterless Cooling Data Center Upgrade at Visa’s central U.S. data center is forecast to conserve more than 5 million gallons of water per year while simultaneously reducing energy consumption. Visa is also testing direct expansion, dry mode, and immersion cooling across other facilities to extend water and energy savings across its global data center estate.
Source
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2024-visa-green-bond-report.pdf
https://corporate.visa.com/en/about-visa/crs/planet.html
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2025-visa-cdp-response.pdf
Measurable Impacts
Visa’s most recent disclosed emissions data covers FY2024, with FY2019 as the primary reduction baseline and FY2020 used as the operational carbon neutrality reference year.
- Scope 1 emissions (FY2024): approximately 13,510 metric tonnes CO₂e
- Scope 2 location-based (FY2024): approximately 73,448 metric tonnes CO₂e
- Scope 3 emissions (FY2024): approximately 613,162 metric tonnes CO₂e, representing 87.6% of total footprint
- Total GHG (FY2024): approximately 700,120 metric tonnes CO₂e across all scopes
- Scope 1 and 2 trajectory: approximately 24% reduction from FY2020 baseline as disclosed in the FY2023 CR&S Report
- Renewable electricity (FY2023): 100% of global operations covered; Scope 2 market-based emissions avoided: 66,860 metric tonnes CO₂e
- Energy efficiency (FY2023 vs. FY2022): emissions avoided from energy efficiency: 1,073 metric tonnes CO₂e
- Employee shuttle emissions avoided (April 2023–March 2024): 1,455 metric tonnes CO₂e
- SMB enablement: 67 million SMBs digitally enabled globally, with 29.6 million in APEC
- Visa Foundation: $2 billion+ in capital invested, 4 million+ SMBs supported, 1 million+ jobs created across 60 countries
- Financial institution clients: 14,500 globally as of FY2024
- Payment credentials: 4.9 billion by end of FY2025
Source
https://carboncredits.com/visa-vs-mastercard-strong-earnings-meet-rising-climate-pressure/
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2024-visa-green-bond-report.pdf
https://investor.visa.com/news/news-details/2024/Visa-Foundation-Helps-To-Uplift-More-Than-Four-Million-SMBs/default.aspx
Challenges and Areas for Improvement
Visa’s most significant sustainability gap is its Scope 3 baseline disclosure. The company updated its near-term targets in FY2024 to use a FY2019 base year, but has not published a clearly verified FY2019 absolute Scope 3 emissions figure alongside its current performance, making it difficult for external stakeholders to assess reduction progress against the new baseline. With Scope 3 accounting for 87.6% of total emissions, this disclosure gap is the single largest transparency risk in Visa’s climate reporting.
Supply chain emissions concentration is a structural challenge. More than 84% of total Scope 3 emissions originate in purchased goods and services from tier 1 suppliers. Visa mapped its tier 1 suppliers for the first time using GHG management software in FY2024, indicating that the supply chain engagement program is still in early stages relative to the scale of the task. Mastercard, by comparison, has achieved 71% supplier SBTi target adoption, a metric Visa does not yet publish.
Visa’s reforestation and biodiversity footprint is underdeveloped relative to the scale of its network. The company relies on carbon offset portfolio projects including forest preservation and reforestation to cover residual operational emissions, but does not operate a proprietary large-scale ecosystem restoration program. This leaves a visible gap relative to Mastercard’s Priceless Planet Coalition, which funds 100 million trees across 22 active restoration sites in 20 countries.
Scope 1 and 2 absolute reduction progress against the FY2019 baseline has not been published in a form that directly demonstrates trajectory toward the 81.22% FY2030 target. The FY2023 CR&S Report references a 24% reduction from FY2020, which is a different baseline year. Aligning all public disclosures to the FY2019 baseline consistently, across all reporting channels, is a credibility issue that Visa’s sustainability team needs to resolve.
Source
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2025-visa-cdp-response.pdf
https://carboncredits.com/visa-vs-mastercard-strong-earnings-meet-rising-climate-pressure/
Future Plans and Long-Term Goals
Visa’s 2040 net-zero commitment targets a 90% absolute reduction in Scope 1, 2, and 3 emissions from the FY2019 baseline, with SBTi validation requiring the remaining 10% residual footprint to be addressed through permanent carbon removal. The pathway to 2040 relies on three levers: continued renewable energy procurement, systematic supply chain decarbonization through the ESG in the Supply Chain Programme, and expansion of sustainable commerce products through the Visa network.
In climate-aligned products, Visa’s EV charging transaction opportunity is classified as a mid-term material positive business impact in its TCFD scenario analysis. This positions decarbonization-linked payment volume as a future revenue growth driver, not only a cost or risk management item. Visa’s Travalyst partnership also positions the company to capture growing demand for sustainable travel payment solutions as tourism markets evolve.
On financial inclusion, Visa’s stated ambition is to extend digital payment access to the remaining unbanked population globally, with particular focus on Africa, where 500 million adults still lack formal financial services access. The Visa Foundation continues to invest in women-led SMBs in emerging markets, with its $2 billion capital deployment model expected to scale through FY2026 and beyond.
Compared to peers, Visa leads on the operational side: its 2020 carbon neutrality achievement and 100% renewable electricity coverage are well-established. Mastercard’s Scope 3 reduction trajectory (45% vs. 2016 baseline) outpaces Visa’s disclosed progress, and American Express remains a decade behind on its 2050 net-zero target. Visa’s competitive gap is supply chain ambition and biodiversity programming, areas where investment over the next 12 to 24 months would materially improve its sustainability standing.
Source
https://net0tracker.com/corporates.html/Visa%20Inc./
https://corporate.visa.com/en/about-visa/crs/planet.html
https://carboncredits.com/visa-vs-mastercard-whos-leading-the-charge-in-finance-and-sustainability-net-zero/
Comparisons to Industry Competitors
Visa, Mastercard, and American Express each hold SBTi-validated climate commitments, but diverge substantially on disclosed progress, target ambition, and programmatic depth.
Payments Sector Sustainability Metrics
American Express received SBTi validation for both near-term and long-term targets in August 2024, using FY2019 as its baseline, with a 2050 net-zero endpoint that places it a decade behind both Visa and Mastercard on timeline. Mastercard’s absolute Scope 3 reduction of 45% from its 2016 baseline is the strongest progress figure among the three companies, and its network-wide PVC card mandate affecting 3.5 billion cards is a structural differentiator with no direct equivalent from Visa. Visa’s primary strength is operational: carbon neutral since 2020 across Scope 1, 2, and commuting-related Scope 3, with 100% renewable electricity fully embedded.
Source
https://carboncredits.com/visa-vs-mastercard-strong-earnings-meet-rising-climate-pressure/
https://carboncredits.com/visa-vs-mastercard-whos-leading-the-charge-in-finance-and-sustainability-net-zero/
https://www.americanexpress.com/en-us/company/corporate-sustainability/
What to Watch: 12 to 18 Month Indicators
Three signals will determine whether Visa’s sustainability position strengthens or stagnates through late 2026 and into early 2027.
1. FY2019 Baseline Emissions Publication and Verified Reduction Progress. Visa updated its near-term targets in FY2024 to a FY2019 base year, yet publicly available disclosures have not provided a fully verified FY2019 Scope 1, 2, and 3 absolute baseline alongside current-year figures. The FY2024 CR&S Report and the FY2025 CDP submission (due late 2025 to early 2026) are the critical documents to watch. If Visa does not publish a clear, audited FY2019 baseline with current reduction progress, its credibility against the 81.22% Scope 1 and 2 and 46.2% Scope 3 FY2030 targets will remain structurally weak.
2. ESG in the Supply Chain Programme Supplier SBTi Adoption Rate. Visa mapped its tier 1 suppliers for the first time using GHG management software in FY2024, and over 84% of its Scope 3 footprint originates in purchased goods and services. The next 12 to 18 months will reveal whether this mapping exercise translates into measurable supplier SBTi commitments. If Visa can publish an equivalent to Mastercard’s 71% supplier SBTi adoption rate by FY2025 reporting, it would indicate that the supply chain engagement program has moved from design to delivery.
3. Eco Benefits Sustainable Card Materials Adoption Rate. Visa’s Eco Benefits bundle gives issuers access to sustainable card materials through its CPI Card Group partnership, but Visa has not published a network-wide certified card issuance count equivalent to Mastercard’s 10 million certified cards milestone. With 4.9 billion Visa credentials in circulation globally as of FY2025, the absence of a public materials transition metric is a reporting gap. Any disclosure of issuer adoption rates for sustainable card materials in the next annual CR&S report would signal meaningful progress toward closing this gap.
Source
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2025-visa-cdp-response.pdf
https://corporate.visa.com/en/about-visa/crs/planet.html
https://ffnews.com/newsarticle/visa-announces-the-visa-eco-benefits-sustainability-bundle-to-empower-issuers-to-meet-climate-con
Visa has built a credible operational sustainability foundation: carbon neutral since 2020, 100% renewable electricity fully embedded, and a $500 million green bond drawn down three years ahead of schedule. These are genuine structural achievements, not offset-dependent paper targets. The FY2024 CDP submission and updated SBTi near-term targets demonstrate institutional seriousness about the 2040 net-zero commitment.
The primary analytical concern is the gap between ambition and disclosure depth. Visa’s Scope 3 footprint of 613,162 metric tonnes CO₂e in FY2024 represents 87.6% of its total emissions, yet the company has not published a verified FY2019 Scope 3 baseline that would let external stakeholders measure trajectory against its own stated 46.2% FY2030 reduction target. This is not a minor administrative detail: it is the central accountability mechanism for the most material part of the emissions profile. Resolving it is the highest-priority disclosure action Visa can take in FY2025.
Three strategic takeaways for practitioners benchmarking or replicating this approach:
- Operational carbon neutrality is a foundation, not a finish line. Visa’s 2020 carbon neutrality was a meaningful milestone, but Scope 3 dominance means operational-level achievement represents less than 12.4% of the actual footprint. Organizations that conflate operational neutrality with meaningful net-zero progress risk misrepresenting their climate position to investors and regulators alike.
- GHG management software deployment enables Scope 3 accountability at scale. Visa’s FY2024 implementation of GHG management software to map tier 1 suppliers is a foundational governance step. Practitioners should note this as the entry point: without supply chain visibility, reduction commitments remain unverifiable. Deployment of supplier-specific GHG tracking tools should precede, not follow, the setting of Scope 3 targets.
- Payment network leverage for sustainable commerce remains underused. Visa processes 303 billion transactions annually and holds relationships with 14,500 financial institution clients and 4.9 billion payment credentials. Its ecolytiq sustainability-as-a-service integration and EV charging payment program demonstrate what is possible. The gap between the scale of this network and the current reach of its climate behavior tools represents the largest untapped sustainability leverage point in the company’s portfolio.
Source
https://corporate.visa.com/en/about-visa/crs/planet.html
https://corporate.visa.com/content/dam/VCOM/regional/na/us/about-visa/esg/2025-visa-cdp-response.pdf
https://carboncredits.com/visa-vs-mastercard-strong-earnings-meet-rising-climate-pressure/
