Visa, a leading global payments technology company, has announced a new global commitment to reach net-zero emissions by 2040. The company also announced its achievement of carbon neutrality across its operations in 2020. Visa also outlined plans to become a climate positive company through new partnerships and expanded initiatives to support sustainable commerce and the transition to a low-carbon economy beyond the company’s own footprint.

Al Kelly, chairman and chief executive officer of Visa said, “Visa is committed to creating a more sustainable future. Our new net-zero commitment and enhanced efforts across our network in support of sustainable initiatives are immediate ways we will achieve our goals to help build a better future for our planet.”

Net-zero by 2040 is 10 years ahead of Paris Climate Agreement goal.

As part of the commitment to reach net-zero emissions by 2040, Visa announced it is a new signatory of The Climate Pledge, an initiative co-founded by Amazon and Global Optimism. Visa is also a new member of the Climate Business Network, a World Wildlife Fund (WWF) initiative to accelerate action toward a net-zero future.

Visa has reiterated its net-zero commitment to align with emerging global standards and definitions and will include efforts with suppliers to decrease a significant portion of the greenhouse gas footprint of the company’s purchased goods and services.

“This Earth Month Visa is using the power of our network to accelerate transformation in sustainability and economic recovery, while helping ensure that the planet and economies around the world thrive,” said Douglas Sabo, chief sustainability officer of Visa.

Visa is expanding its initiatives to use its products, services, network, data, payments expertise and brand to support sustainable commerce and the transition to a low-carbon economy.

Visa’s new goals and efforts to support sustainable commerce build upon the company’s existing recognized industry leadership in sustainability, including inclusion on the following: Dow Jones Sustainability North American Index, America’s Most Responsible Companies, 100 Best Corporate Citizens and 100 Most Just Companies.