Scotiabank joins Mastercard in the launch of the Priceless Planet Coalition in the Caribbean 

February 11, 2021 – Scotiabank joins Mastercard on the expansion of the Priceless Planet Coalition to generate climate change awareness and impact across four Caribbean countries: Jamaica, Barbados, The Bahamas and the Dominican Republic. As part of the launch of this initiative, Scotiabank cardholders can contribute to different forestation initiatives through online purchases made with their ScotiaCard.   

This global coalition unites the efforts of merchants, banks, cities and consumers to make meaningful investments to preserve the environment through the restoration of 100 million trees over five years, together with forestry experts from Conservation International and World Resources Institute. Other participating members are Transport for London and American Airlines, among others around the world, all of which are investing in innovative ways to inspire collective actions to address climate change. In the Caribbean, a place where climate change further impacts the effects of devastating hurricanes, Scotiabank has pioneered several initiatives to reduce Carbon emissions.

The current pandemic has underscored how interconnected our world has become, and that the health and well-being of our planet is deeply linked to that of our people. Together, Mastercard and Scotiabank are taking action now to combat global warming. Until April 22, current and new Bank cardholders in Jamaica can contribute to planting a tree for every five online purchases of J$4350 or more. The goal is to plant a total of 75,000 trees, based on purchases made in Jamaica, Barbados, The Bahamas and the Dominican Republic. 

“Scotiabank is guided by our purpose: “for every future”. We recognize that climate change is one of the most pressing issues of our time, and through our Climate Commitments, we are dedicated to supporting actions that address this challenge through our banking operations," said Anya Schnoor, Executive Vice President of Scotiabank in the Caribbean, Central America and Uruguay. "As a leading Bank in the Americas, collaboration with other organizations is crucial for effective climate action. The Priceless Planet Coalition provides an opportunity for us to work alongside Mastercard to help make an impact and enables our customers in the Caribbean to be part of a very practical and tangible climate solution," she added.

“Climate change affects us all. In Jamaica, the negative impact of extreme weather conditions on sectors such as agriculture and tourism can be significant. Reforestation has a direct and measurable impact on the environment. Scotiabank supports sustainable business practices, so we are very pleased to be a part of this initiative,” shared Audrey Tugwell Henry, President and CEO, Scotiabank Jamaica.

“Mastercard is committed to protect the environment in every continent where it operates, and here in the Caribbean, where the weather is sometimes extremely punishing, suffering from very destructive hurricanes; we truly believe in our efforts on restoring the rainforests and the landscapes is a key element in the fight against climate change” said Marcelo Tangioni, President of The Caribbean Division at Mastercard. Mr. Tangioni also added that “We are very glad to welcome Scotiabank joining the Priceless Planet Coalition, for this constant work against the clock and mostly, to rebuild ecosystems with the help of all the partners of the Coalition.”

The Priceless Planet Coalition aims to reinforce a restoration model that is not only focused on planting trees, but on re-growing forests for a positive climate, community, and biodiversity impact. 

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.