Mastercard is all set to embark on a verdant sojourn, joining hands with Conservation International, and the International Union for Conservation of Nature (IUCN) in Thailand, to work towards the revitalization of 165 hectares of the spell-bounding Kaeng Krachan National Park. Spread across Phetchaburi and Prachuap Khiri Khan provinces, this World heritage site is on its way to be characterized yet again by its original lush green forests.
Over the course of the approaching two years, Mastercard and its partners will embolden the site with 275,000 newly planted trees, reinforcing their unwavering commitment towards conservation. This would not just be an ecological restoration project, but an endeavor to mitigate the looming threat of climate change.
Additionally, the venture is poised to reach beyond environmental revival. Mastercard and its partners aim to engage and empower the seven local communities, which call the national park their home. Taking them under their wing, Mastercard seeks to introduce these communities to sustainable agricultural practices, fortifying their income sources. But the collaboration doesn’t stop there. The stakeholders also plan to equip these communities with instrumental knowledge and resources that will help ensure the park’s long-term conservation.
This alliance is a component of Mastercard’s Priceless Planet Coalition (PPC), a stellar platform which melds different corporate sustainability initiatives into a connected force. Launched into operation in 2020, PPC takes pride in having garnered the support and participation of over 100 international partners. PPC is a melting pot for sustainably minded merchants, financially savvy fintech firms, and globally aware banks, all dedicated to taking decisive actions to catalyze a positive planetary impact.
A unique aspect of the Coalition’s modus operandi is that its reforestation model surpasses mere tree planting. Anchoring its endeavours on a broader philosophy, the focus is on resurrecting forests in zones where there is high potential to bring about positive climate impacts, foster community development, and stimulate biodiversity.
“Mastercard’s Priceless Planet Coalition has been conceived with a rich inspirational drive towards collaboration among committed partners. It strives to tackle climate change while uplifting global environmental welfare. With Kaeng Krachan's stature as Thailand’s grandest national park, it’s an ideal site for restoration projects. Such a project bears deep-rooted environmental significance, and we are thrilled to spearhead this venture. We aim for it to serve as a symbolic lighthouse, igniting change in the Asia Pacific region and beyond,” gushed Safdar Khan, Division President, Southeast Asia, Mastercard.
PPC’s ambitious goal is to have planted 100 million trees worldwide by 2025. As of now, PPC has successfully encouraged contributions to 19 prolific global reforestation projects. Managed hand-in-hand with NGOs, Conservation International and the World Resources Institute, the restoration venture in Thailand marks PPC’s first breakthrough into Asia Pacific in 2023.
PPC’s right to claim global representation shines through their diverse portfolio, including regions like Asia Pacific (Australia, Cambodia, China, India, Thailand, the Philippines); Latin America (Brazil, Colombia, Guatemala); Europe (France, Portugal, Spain, Scotland); Middle East & Africa (Madagascar, Democratic Republic of Congo, Kenya, Malawi, United Arab Emirates); and North America (Mexico, United States).
With images portraying the grandeur of the Kaeng Krachan National Park, it’s only a matter of time that this image once again encapsulates the very same verdant majesty, thanks to Mastercard’s initiative. The green journey has only just begun!
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