Global payment technology company Mastercard announced today the launch of a new ESG consulting practice. The new practice is being rolled out as part of an expansion of the company’s payments-focused consulting service, alongside new practices dedicated to Open Banking, Open Data, and Crypto & Digital Currencies.

According to Mastercard, the new ESG-focused practice aims to help the company’s clients to better understand and respond to consumers’ increasing social and environmental consciousness regarding the products and brands with which they interact.

Services offered by Mastercard aim to enable clients to incorporate and accelerate ESG principles in their strategy and portfolio, and incentivize positive behaviors. Mastercard highlighted its Priceless Planet Coalition as an example of the services and assets available to help customers drive better outcomes. Priceless Planet enables partners to contribute to the goal of restoring 100 million trees by 2025, integrating contributions to the coalition with consumer spending and behaviors.

Raj Seshadri, President of Data & Services, Mastercard, said:

“Payments are just the beginning. 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. 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.”