Based in Stockholm, the Lab will serve as a global research and development center for climate conscious digital products and solutions, and support impact-driven startups and customers.
Mastercard today announced the launch of its new Sustainability Innovation Lab, which will spearhead the further development of the company’s portfolio of environmentally conscious digital products and solutions. The Lab will focus on ways to empower businesses and consumers to transform how they produce, distribute and purchase products and services, ensuring both people and the planet can thrive as the global economy rapidly digitizes.
In support of the EU Green Deal, Mastercard selected Stockholm, Sweden as the home of the global Lab – a location that has long been at the forefront of sustainable innovation, with strong consumer, political and business commitment to transitioning to a green economy.
“Fostering innovative solutions with practical applications is urgently needed to achieve global climate change goals,” says Kristina Kloberdanz, Chief Sustainability Officer, Mastercard. “The Sustainability Innovation Lab will enable us to co-create a robust portfolio of environmentally friendly solutions.”
Recognizing that consumption will have to shift to a more sustainable paradigm in order to meet global carbon reduction targets, Mastercard is reimagining the future of commerce by collaborating on digital solutions designed to empower businesses, governments and billions of consumers across its network to help preserve the environment.
The Lab will focus specifically on solutions that enable sustainable spending, as more consumers want to take action for the environment, as well as increase visibility and traceability across value chains for producing products that have a positive impact on both people and the planet.
Research and development within the Lab is already underway – with dedicated Mastercard employees, startup partners and customers – and the physical space will open in spring 2022.
The Lab’s initial priorities include iterating on the Mastercard Carbon Calculator feature, now embedded across the company’s global network, ensuring that it is seamlessly implemented by customers – with Doconomy team members based in the Lab to support. It will also explore how Mastercard Provenance can continue to elevate transparency not only for social impact, but also environmental initiatives, such as enabling supply chain parties to make more sustainable production decisions.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
