Building sustainable thinking into the supply chain

Visa connects billions of consumers, merchants, banks, and governments and has a responsibility to operate in a way that supports the well-being of people and the planet. By integrating environmental, social, and governance (ESG) criteria into its Sourcing and Supplier Management processes, Visa aims to reduce its environmental footprint, promote ethical and inclusive practices, and create positive impacts in its value chain.

Embedding ESG Criteria into Sourcing Strategy
In Europe, Visa has developed a comprehensive ESG framework for its Sourcing strategy to procure responsibly and support Visa’s global sustainability goals. Here are some of the steps Visa is taking to further our sustainability ambitions:
• Visa has established an ESG in the Supply Chain Programme, supported by the steering committee, composed of senior, global and regional leaders from Visa's organisation, to oversee the development, implementation and overall progress of its ESG initiatives. The programme is sponsored by Visa Europe's CEO, Charlotte Hogg.
• Visa’s Supplier Code of Conduct, which sets out minimum standards and expectations for its suppliers in terms of environmental, social, and ethical performance. Visa also conducts regular due diligence to assess and mitigate ESG risks in its supply chain.
• Visa partners with sustainability organisations such as CDP, Ecovadis and Tealbook, to measure and track the ESG performance of its strategic suppliers through supplier sustainability scorecards. These scorecards cover topics such as greenhouse gas emissions, supplier diversity and inclusion, human rights, and anti-corruption. Visa and its’ suppliers work together to build action plans that increase the ESG performance within the value chain.
• Visa works closely with all its suppliers to align on ESG practices and Visa’s goals, even collaborating with its suppliers on joint projects and initiatives to address common ESG challenges and opportunities.

The Benefits of a Sourcing Sustainability Strategy
Visa's multi-year Sourcing sustainability strategy in Europe not only helps the company fulfil its corporate responsibility, but also creates value for its stakeholders:
• Creating greater value by optimising the use of resources and minimising waste and emissions in its supply chain.
• Supporting Visa’s purpose to uplift everyone, everywhere by working with more small and diverse suppliers.
• Improving quality and fostering innovation through a culture of excellence and collaboration among its suppliers.
• Strengthening reputation and trust by demonstrating its commitment and leadership in ESG issues to its customers, regulators, investors, and communities.
• Attracting and retaining talent by creating a diverse and inclusive work environment and supporting the development and well-being of its employees and suppliers.

Visa is proud of its progress and achievements in building sustainability into its Sourcing strategy, but it also recognises that there is more work to be done.

Visa Europe’s Vice President of Sourcing, Alisa Bornstein, said: “Visa will continue to evolve and enhance its ESG practices and collaborate with its suppliers and other stakeholders to drive positive change in the payments industry and beyond.”