Mastercard: How European Businesses Approach Sustainability

Mastercard’s 2025 Future of Sustainability report explores how businesses and consumers in Europe are approaching sustainability. 

The report is compiled from more than 40 in-depth interviews with banks, fintechs, retailers and NGOs.

Matthew Waldron Director, Product Management, Core Payments Europe at Mastercard, says in the report: “Awareness of the climate challenge is increasing, driven by the visible effects witnessed across the world and enhanced by media coverage. 

“Today, environmental sustainability attracts a lot of attention from the various stakeholders of our society.”

“Through the interviews conducted, we have identified three pillars that consolidate the core findings from our discussions and form the foundational structure of this document: Prioritise, Educate and Act.”

Partners Mastercard interviewed for the report include HSBC, Thales, Santander and Vinted. 

Prioritising sustainability

Mastercard's report highlights a shift in how many businesses view environmental sustainability: it's no longer seen as an add-on, but as a core business imperative. 

Companies are embedding environmental considerations into their strategies, recognising the potential impact on their operations and the wider world.

Addressing environmental risks and embracing opportunities are now understood to be crucial for protecting businesses and opening new avenues for growth. 

The pursuit of net zero emissions and the integration of circular economy principles are becoming top priorities, reflecting a commitment to carbon neutrality at the highest levels of management. 

Businesses are also focussed on ESG regulations around the world. 

New directives on reporting and green claims are driving the need for greater transparency and data quality. 

While these initiatives are considered necessary, some concerns exist about the diversion of resources from innovation to compliance.

Mark Barnett, President of Mastercard Europe, says in the report: “The urgency for a regenerative economy calls for immediate, sustained action. 

“I look forward to advancing these crucial conversations with our partners to drive impact for our planet and the people that inhabit it.”

Increasing awareness 

The report emphasises the importance of education in driving sustainable behaviours. 

Many individuals and SMEs need to understand their potential role in creating a more environmentally conscious world. 

Both the public and private sectors have a crucial role to play in providing clear and accessible information.

“Sustainability is not the reason for the action but the outcome. Using sustainability alone as the key messages does not tend to work,” a Sustainability Director at Trainline told Mastercard.

However, the report cautions against placing the burden solely on consumers. 

Instead, it says the focus should be on supporting businesses and industries in their transition to sustainability. 

Effective messaging is key, avoiding jargon and resonating with audiences on a personal level. 

Inspiring action, rather than inducing guilt, is the preferred approach.

Influencing positive sustainability behaviours

The report says that reframing sustainability as a saving and long-term investment, rather than a cost, can encourage greater engagement from consumers and SMEs. 

Businesses are designing and promoting products that align with a resilient, circular economy, encouraging consumers to adopt more sustainable behaviours.

“Every small action can compound into a large impact,” Stina Söderqvist, Head of Behavioural Science at Doconomy told Mastercard.

“Through our 'behaviour' we also signal what we think are desirable 'behaviours' and these are signals that will help shift social norms and the behaviours of others around us. 

For example, Imagin focuses on reducing the negative impact on marine ecosystems and promoting digital payments. 

UniCredit embeds ESG principles throughout its strategy, supporting a just and fair transition. 

Mastercard is leveraging its network to drive positive action, funding tree restoration and phasing out first-use plastics from payment cards.

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