Mastercard announces ESG consulting services

The company's consulting services can now help clients understand ESG issues for their businesses

Mastercard is expanding its consulting services to include ESG, the payments company announced today.

Consulting has been a key factor in the way the company has engaged clients over the past 20 years, though it has not previously included a practice specifically for guidance on ESG issues. Along with that new practice, Mastercard has also expanded its consulting to include open banking, open data and crypto currencies, according to the announcement.

The company’s data and services team includes more than 2,000 data scientists, engineers and consultants who work with clients in 70 countries, the firm stated.

“Consumers are more socially and environmentally conscious of the products and brands they interact with than ever before,” the announcement read. “Mastercard’s consultants are helping clients better understand what that means for their businesses, and then transform these insights into actionable strategies that bridge purpose and profit.”

As an example, the company cited work alongside a Latin American bank to help provide funding to restore forests via its Priceless Planet Coalition, “while also driving card usage.”

In the announcement, the firm’s president of data and services, Raj Seshadri, said that payments are a starting point for its consulting operations.

“Over the past 20 years, we’ve worked with our customers across banking, fintech, retail, travel and other sectors, helping them understand and navigate every challenge and opportunity thrown their way,” Seshadri stated. “This evolution of consulting is in recognition of the changing world and of our changing business. It’s about helping customers navigate today’s challenges and anticipating what’s next.”