Mastercard, Ant Group and BBVA encourage sustainable habits
Mastercard, BBVA and Ant Group have joined 'Every Action Counts', a coalition promoted by the Green Digital Finance Alliance (GDFA). The coalition was created with the goal of using technology to engage one billion citizens around the world, to drive action and environmental awareness by 2025.
Other companies who have joined include Banco Davivienda (Colombia), DANA (Indonesia), FNZ (United Kingdom), GCASH (Philippines), Mercado Libre (Latin America), Microfinance Bank (Pakistan), Paytm (India), SANLAM (South Africa), Telenor, UNILEVER (North and Southeast Asia) and the Minderoo Foundation (Australia).
Each coalition member will work locally to develop people-centered, technology-based interaction models with an innovative approach to encourage green behaviors.
From calculating carbon footprints to reforestation initiatives
This initiative will connect nature conservation and climate change experts, with some of the world's leading digital platforms, financial institutions and consumer goods manufacturers.
BBVA is the first bank in the world to use data analytics to calculate the carbon footprint of companies through the One View financial aggregator. This tool allows companies to know the amount of greenhouse gases they emit into the atmosphere as a result of their daily activities.
BBVA received the banking industry’s silver award in the yearbook put together by S&P Global, analyst for the Dow Jones Sustainability Index (DJSI), the ranking in which the Group rose to the position of the second most sustainable bank in the world in 2020.
Some practical examples of this strategy are reforestation initiatives, such as those promoted by 'GCash forest' in the Philippines, Alipay with 'Ant Forest' in China, or Mastercard with 'Priceless Planet Coalition'.
The coalition also seeks to encourage similar projects around the world, helping payment platforms and manufacturers to focus on locally relevant behaviors.
World banks support sustainable change
"A profound behavioral change is needed and we have no doubt that it is going to happen," said Antoni Ballabriga, Global Head of Responsible Business at BBVA. "We are at a very exciting time, which offers us the opportunity to develop digital solutions that help citizens to generate greater sustainable awareness and help them on the road to the transition to a zero-carbon world.”
This feature facilitates the calculation based on the movements that occur in the company's aggregated accounts related to electricity, gas or fuel expenses.
With this information, One View converts the expenses derived from energy consumption into tons of CO2 emitted into the atmosphere by the business activity.
Furthermore, based on this information, companies will be able to explore new, more sustainable business lines that will facilitate their recovery in a new context.
"Nature provides us with the air we breathe, the water we drink, the food we eat, and in return, our behavior has left much to be desired”, said Inger Andersen, Executive Director of the United Nations Environment Program (UNEP). “I therefore welcome this initiative. As we enter the United Nations decade of ecosystem restoration, it is essential to put people at the center of the green transition".