Primary Climate Goal
Visa's target annual all Scopes emissions for 2040 should be equal to 0 Kt = 0% * 325 Kt, according to the company's stated climate goal.
In order to achieve this goal, Visa would need to reduce its emissions at least by -17 Kt per annum over the period from 2022 to 2040:
-17 Kt = ( 0 Kt - 325 Kt ) / (2040 - 2021)
This translates into a -5.3% reduction in 2022.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Visa aims to achieve net zero for all Scopes by 2040
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
Visa reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 30 September 2021 at 4 Kt (-9.9 /-71.3% y-o-y). Also positively, carbon intensity declined to 0.2 t (-0.4 /-66.7% y-o-y).
Visa's Scope 3 emissions decreased to 321 Kt (
The company is committed to achieving net zero for all Scopes by 2040, which translates into the estimated reduction of -17 Kt per annum over the period of FY2022 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
Visa also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Visa Inc. commits to reduce absolute scope 1 and 2 GHG emissions 50% by FY2030 from a FY2020 base year. Visa Inc. also commits to reduce absolute scope 3 GHG emissions 42% within the same timeframe.