Mastercard and AXA Announce Partnership to Build a Sustainable Future through the Priceless Planet Coalition

Mastercard and AXA Hong Kong and Macau ("AXA") has announced a partnership to empower AXA's customers to contribute to forest restoration through the Priceless Planet Coalition.

As the Priceless Planet Coalition's first insurance partner in Hong Kong, AXA will work together with Mastercard to advance environmentally conscious endeavors. The collaboration will be underscored by AXA's contribution to the Coalition's goal of restoring 100 million trees globally by 2025, AXA said in a press release.

AXA also activated a new customer engagement campaign to plant trees around the world on behalf of customers who have downloaded and registered for "Emma by AXA" – AXA's all-in-one insurance and health services digital platform – from now until December 31, 2022. AXA will also leverage its staff, agents, and partners to amplify the Coalition's work via the promotion of eService adoption to further reduce paper usage while enhancing the customer experience.

Mastercard launched the Priceless Planet Coalition in January 2020 to unite the environmental efforts of consumers, financial institutions, merchants and cities. This was done in conjunction with climate science and forest restoration experts Conservation International and World Resources Institute. The Coalition is currently running 18 restoration projects around the world including sites within the Chinese mainland, maximizing the Coalition's climate, community, and biodiversity commitments.

Sally Wan, Chief Executive Officer, AXA Greater China, said, "At AXA, our purpose is to act for human progress by protecting what matters. As one of the global insurance leaders in combatting the biggest challenge of our century - climate change, we certainly have an important role to play and are honored to be the first insurer joining the Coalition to amplify our impact with like-minded partners. We believe that joint efforts across industries are essential to addressing climate challenges and building a greener future."

Helena Chen, Managing Director, Hong Kong and Macau, Mastercard, said: "Through the Priceless Planet Coalition's long-term commitment to environmental conservation, Mastercard is uniting its network in climate action to achieve the goal of restoring 100 million trees by 2025. In Hong Kong, Mastercard proudly welcomes AXA as the Coalition's first insurance member in this market. Mastercard is pleased to work with AXA, a partner that shares its commitment to the wellbeing of our planet."

Both companies have a shared vision of climate action with a focus on fighting climate change. On a global scale, AXA is aiming to achieve carbon neutrality by 2025 while Mastercard has committed to reaching net-zero greenhouse gas emissions by 2040.

In Hong Kong, AXA has launched various climate and environmental initiatives which include the free "AXA Climate School" program for all full-time university undergraduates in the city, and market-first Green Premium Rebate for employee benefits clients. Other efforts include investing in green assets which have exceeded HK$4 billion as of February 2022 and the migration to use eServices to reduce paper usage. Furthermore, AXA Group has also lined up other commitments on sustainability, including its target to reach €26 billion in green investments by 2023 and an investment of €1.5 billion to support sustainable forest management.

Meanwhile, Mastercard continues to build an inclusive and sustainable digital economy through contactless payments and other innovative technologies. In March 2021, Mastercard issued its first-ever Sustainability Bond, allotting US$600 million to support carbon reduction. In addition, Mastercard is equipping consumers and businesses with certified sustainable cards made from eco-friendly materials through Mastercard's Sustainable Card Materials Directory. At the end of 2021, 60 million Mastercard-branded cards had been produced with approved sustainable materials.