Visa’s European arm has taken a significant step towards greener payments with the establishment of a dedicated sustainability solutions team. Led by Steve King, this team aims to collaborate with clients and partners across Visa’s extensive network to design and develop sustainable technologies for the payments ecosystem. As part of their efforts, they are already working on innovative projects such as the Visa Eco-Benefits offering, which includes a carbon footprint tracker in partnership with ecolytiq, and seamless payments for electric vehicle charging.
In addition to the sustainability solutions team, Visa has created the Visa Consulting & Analytics Sustainability Advisory Practice. This practice is designed to assist clients in navigating their sustainability strategies, developing roadmaps, and building a compelling business case for embracing a planet-centric approach. With increasing consumer expectations, Visa’s recent research conducted across 12 European countries reveals that 75% of consumers expect corporations to lead the way in sustainability initiatives. Furthermore, 46% of consumers have made conscious decisions to stop purchasing from brands or companies that have a negative impact on the environment or society.
As Charlotte Hogg, CEO of Visa Europe, emphasizes, the payments and financial services industry has a crucial role in supporting sustainable consumption and behaviors to drive a tangible transition to a net-zero future. Visa’s sustainability objectives are not only focused on their own operations but also on advancing their clients’ sustainability journeys. With this in mind, the newly established sustainability solutions team will play a critical role in shaping Visa’s sustainability agenda and providing valuable guidance to clients.
Opinion: Embracing sustainability is not just a moral obligation but also a strategic imperative for businesses in the financial services industry. Visa’s commitment to green payments sets a commendable example for the sector as a whole. By integrating sustainable practices and technologies into the payments ecosystem, Visa is leading the way towards a more environmentally conscious and responsible future.
The payments and financial services industry plays an integral role in enabling business and commerce every day, so it’s also our responsibility to accelerate sustainable consumption and behaviors to support a tangible transition towards net zero. – Charlotte Hogg, CEO, Visa Europe
By taking these proactive steps, Visa is not only driving sustainability within its own operations but also empowering its clients to embrace a more planet-centric approach. With consumer expectations on the rise, it is crucial for businesses to prioritize sustainability and contribute to a greener future. Visa’s sustainability initiatives serve as a beacon of inspiration for the financial services industry, encouraging others to follow suit and make a positive impact on the environment and society.