Among the many actions that can help, reforestation is widely considered to be one of the most impactful and cost-effective ways to positively counteract climate change. This has also informed our sustainability agenda, and in 2020, Mastercard launched the Priceless Planet Coalition, uniting the efforts of consumers, financial institutions, merchants, and cities to fight climate change through the restoration of 100 million trees by 2025.
The Coalition is not only focused on planting trees, but on re-growing forests in places with the greatest need and the most potential to have a positive impact on climate, community, and biodiversity goals. Restoration partners like Conservation International and World Resources Institute, are guiding these efforts by employing rigorous science-based best practices to identify new project sites, select the appropriate tree species and ensure long-term forest health through ongoing monitoring.
Over 100 partners globally are now part of the Priceless Planet Coalition, including sustainably minded merchants, fintechs and global banks. In Sub-Saharan Africa it has welcomed Paramount Bank in Kenya, Albaraka Bank in Sudan, Premier Bank in Somalia, NMB Bank Plc in Tanzania, Faisal Islamic Bank in Sudan, and Salaam African Bank in Djibouti. Each partner is helping to support the forest restoration through consumer engagement and donation campaigns that encourage people to take climate-friendly actions or make direct contributions through a donation platform.
In addition to ecological and climate impact benefits, the work of the Coalition is also creating social benefits and providing economic opportunities for communities and people who take part in the long-term stewardship of these restored forests, farms, and other landscapes.
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