SOURCE: Mastercard
DESCRIPTION:
To support an equitable recovery, Mastercard has stepped up throughout the global health crisis with a nearly $100 million response that leverages global philanthropy through the Mastercard Impact Fund, as well as digital technology, resources, innovative partnerships and fundraising programs.
1. Acting Early and Quickly through Trusted Partnerships
• Acting quickly in a crisis is critical. Our Center for Inclusive Growth was ready to respond and a Mastercard Impact Fund commitment of up to $25 million early in the pandemic helped establish the COVID19 Therapeutics Accelerator with the Gates Foundation and Wellcome Trust. This accelerator has since brought together more than $339 million in contributions from 17 donors. Our initial grant provided diagnostic instruments and antigen testing for 48 African Union member states.
• As the combined health and economic implications of COVID-19 began to take hold we worked with partners to address the urgent needs of frontline workers and with the support of partners and cardholders we donated more than $4 million to support World Food Programme initiatives in over ten countries, to help mitigate the risks of a hunger pandemic.
2. Meeting the Moment by Mobilizing Resources
• With vaccines now available but access to supply not being equal, we are supporting efforts to reach the most vulnerable. $25 million in donations, plus fundraising and matching efforts, will support Gavi, the Vaccine Alliance, in their public-private approach to bring vaccines to lower-income countries.
• Many countries lack the digital infrastructure to keep records to track progress, monitor demand and contact people for follow up appointments. That’s why we are also partnering with Gavi to deploy Mastercard Wellness Pass, a tool to digitize vaccination records and bring efficiency to COVID-19 vaccine deployment in the most marginalized communities.
• With the pandemic raging in India we have donated $10 million to directly address critical needs, including an addition of 2,000 beds at portable hospitals and 1,000 oxygen generators.
• In Brazil, where our efforts to date have ensured the delivery of 5 million meals to tackle hunger, we are committing to an estimated 20 million more in partnership with World Vision and others, to support people living in vulnerable communities.
• In France, a grant to the Red Cross aims to raise awareness among 100,000 people currently not receiving health support and provide vaccinations for 25,000 people through the deployment of at least 50 mobile vaccination units.
• With vaccines becoming more widely available in the U.S. there’s a growing role for companies to support access to transparent information and to build trust. Mastercard will leverage its Priceless platform for a national vaccine incentive program in the U.S., as well as partner with the Ad Council to support community grassroots education campaigns.
3. Looking to the Future
• Our focus has always been on helping build a more connected world. Despite the challenges of the last year, we have never lost sight of a future in which we could reconnect with those we love and once again take advantage of the opportunities that await outside our borders.
• Mastercard has been at the center of several important global initiatives and partnerships to help navigate the complex issues on the road to a safe return to travel.
• We are applying our technology and expertise to bolster trust in health data, including partnering with fintech Cassava on the enhancement and expansion of the Africa CDC TravelPass, and working with CommonTrust Network on a trusted system for sources of health data.
• Following successful trials at Glasgow and London Gatwick airports, we are working closely with private and public sector partners such as the International Chamber of Commerce, the World Economic Forum, the Good Health Pass Collaborative and others.
Our response to the Covid-19 health crisis reflects who we are as a business. Since the creation of the independent Mastercard Foundation, we have placed inclusion at the core of the company. Using the strength of our resources and partnerships, we see pathways to an inclusive economy and a more equitable society, where everyone has the opportunity to reach their potential.
KEYWORDS: NYSE:MA, mastercard
