Addressing the climate crisis both at home and abroad is crucial for maintaining long-term global economic stability. In November 2022, Administrator Samantha Power and then-Special Presidential Envoy for Climate John Kerry presented the PREPARE Call to Action to the private sector at COP27, engaging ten companies, including Mastercard, to assist 500 million people in developing nations in adapting to climate change impacts.
Mastercard's role in the PREPARE Call to Action involves collaborating with BFA Global and the CIFAR Alliance to scale up innovative fintech solutions that aid vulnerable households and businesses in building resilience against climate effects. Together, we have established the Climate Smart Product Innovation Hub, which features 74 climate-focused fintech innovations designed to attract investment and increase their reach.
Additionally, we aim to onboard 30 million people to our Community Pass platform within the next five years. In early 2024, Community Pass teamed up with the Co-operative Bank of Kenya and the Shell Foundation to launch a program providing up to 100,000 farmers growing potatoes, maize, and dairy with access to credit for six innovative clean energy farming technologies.
Maximizing impact requires a blend of governmental and private sector efforts. It was a privilege to engage in a discussion with these leaders and representatives from the PREPARE Call to Action on how to strengthen supply chain stability, leverage American innovation, and use our combined efforts to enhance global climate resilience.
Mastercard's role in the PREPARE Call to Action involves collaborating with BFA Global and the CIFAR Alliance to scale up innovative fintech solutions that aid vulnerable households and businesses in building resilience against climate effects. Together, we have established the Climate Smart Product Innovation Hub, which features 74 climate-focused fintech innovations designed to attract investment and increase their reach.
Additionally, we aim to onboard 30 million people to our Community Pass platform within the next five years. In early 2024, Community Pass teamed up with the Co-operative Bank of Kenya and the Shell Foundation to launch a program providing up to 100,000 farmers growing potatoes, maize, and dairy with access to credit for six innovative clean energy farming technologies.
Maximizing impact requires a blend of governmental and private sector efforts. It was a privilege to engage in a discussion with these leaders and representatives from the PREPARE Call to Action on how to strengthen supply chain stability, leverage American innovation, and use our combined efforts to enhance global climate resilience.