Global Matters

Unleashing the Power of Data for Decarbonisation

By Jessica Lennard, Senior Director, Global Data & AI Initiatives, Visa

Demetrios data flows

President Obama memorably pointed out that our generation will be the first to feel the effects of climate change but - crucially - the last which can actually do something about it. However, decarbonisation is hugely complex, and reducing greenhouse gas emissions will require an evolution in many aspects of life we currently take for granted - be that travel, diet or other spending and consumption habits. 

We can all think about making individual changes, but corporations also have an important role to play in supporting our direction of travel toward a more resilient, healthy, sustainable future. At Visa, we are committed to playing our part, especially by leveraging our position in the global payments ecosystem to bring together diverse stakeholders to affect real change. We regularly assemble clients and partners to discuss innovative ideas and solutions, in this case around an area Visa considers a critical asset in driving sustainability: data. 

Visa will be hosting a panel at CogX (a global summit focused on AI & Transformational Technology) on Tuesday 15 June at 15:00 GMT to explore how data driven insights can  support decarbonisation and deliver associated benefits in terms of environmental sustainability. Joining us will be representatives from the Cambridge Institute for Sustainability Leadership, ecolytiq, Santander and the World Business Council for Sustainable Development.

We believe Visa has not just an opportunity, but a responsibility, to harness the breadth of Visa data, plus the power of our networks, to help drive a more sustainable future. Some areas Visa and our partners are exploring include macro-economic sustainability insights from transaction data that Visa can generate and analyse from across our global data sets; data related to purchases, empowering consumers to better understand their own carbon impact and make greener choices; and data related to particular sectors such as retail, financial services and transport. 

This data, and models built on it, can be used by businesses, policy makers or public sector organisations to develop and adapt their strategies – everything from business growth to planning smart cities and EV charging networks. Data can also inform and create strong touchpoints and levers for consumer engagement, something Visa is actively implementing with our fintech partner Ecolytiq.

To hear more about the potential of data as an important tool to help tackle climate change, join us virtually or in person at The Planet and Smart Cities stage at CogX.

Tag: Social Impact