By Dieter Holger
Mastercard Inc. linked the pay of its most senior executives to its environmental, social and governance targets, joining other big companies that have made similar moves.
Executive vice presidents and above at the Purchase, N.Y.-based company will see their compensation tied to three areas: carbon neutrality, financial inclusion and gender pay parity, Chief Executive Michael Miebach said in a blog post on Wednesday.
The company will share more details on the compensation structure at a later date, a Mastercard spokeswoman said.
Some of the payments company's ESG goals include net-zero greenhouse-gas emissions by 2050 and bringing 1 billion more people and 50 million micro and small businesses into the digital economy by 2025.
"We believe these ESG goals, which our senior leaders have the ability--and responsibility--to influence, will help our business grow and thrive for years to come," Mr. Miebach said.
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(END) Dow Jones Newswires
March 24, 2021 12:36 ET (16:36 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.