Global payment technology company Mastercard will begin including achievement of the company’s ESG goals in the calculation of bonus pay for all employees, according to a new post by CEO Michael Miebach.
The new initiative marks an extension of the introduction by Mastercard last year of a new compensation model for senior executives with incentive pay tied in part to progress towards the company’s ESG priority areas of carbon neutrality, financial inclusion, and gender pay parity.
The new model will apply to employee bonus pay beginning this year, and will continue to focus on the key ESG focus areas of emissions, financial inclusion and the gender pay gap. According to the Miebach, these factors were selected “because we have a substantial impact in these areas and because they closely align with our vision.”
“Our responsibility, and our success, is shared. And now we’re ensuring the recognition is too. When we put the full force of all of us behind our goals, there’s nothing we can’t achieve.”