Visa and Mastercard are two of the largest payment companies in the world. They process trillions of dollars in transactions each year. Their networks connect banks, merchants, and consumers across more than 200 countries.

Full year 2025 earnings show that both companies continue to grow, even as economic conditions remain uncertain. At the same time, investors and regulators are paying closer attention to sustainability and climate commitments. This article compares Visa and Mastercard with their latest earnings data, growth trends, and environmental strategies.

Earnings Show Strong Financial Performance

• Earnings Check: Visa’s Momentum Continues

Visa reported strong financial results for its full fiscal year 2025. Net revenue reached $40.0 billion, an 11% increase from 2024. This growth was driven by higher payment volumes, stronger cross-border activity, and more transactions processed on its network.

Visa’s GAAP net income was about $20.06 billion, up from $19.74 billion in the prior year. Diluted earnings per share (EPS) grew to $10.20, compared with $9.73 a year earlier.

On a non-GAAP basis, net income was roughly $22.54 billion, and non-GAAP diluted EPS reached $11.47, both showing double-digit growth year over year. Total payments volume processed on Visa’s network was 257.5 billion transactions, up 10% from the prior year. Visa’s payment credentials also grew, reaching 4.9 billion by year-end.

• Mastercard Delivers: Solid Results and Strategic Shifts

Mastercard also reported strong results for the full year 2025. GAAP net revenue increased to $32.8 billion, up 16% from 2024. On a currency-neutral basis, revenue also grew close to 15%.

The company’s GAAP net income was about $15.0 billion, a 16% increase from the previous year. Mastercard’s diluted EPS rose to $16.52, up from $13.89 in 2024.

On a non-GAAP basis, adjusted net income was $15.4 billion, and adjusted diluted EPS reached $17.01, reflecting 14–17% growth. Transaction activity stayed strong. Gross dollar volume rose by about 9%. Cross-border volume increased by 15%, and switched transactions were up by 10%.

Comparing Growth Drivers and Market Position

Visa and Mastercard share many growth drivers. Both benefit from rising digital payments, increased travel, and global e-commerce expansion. Cross-border transactions are especially important for revenue growth, as they generate higher fees.

Visa reported cross-border growth of about 13%, while Mastercard posted 15% growth in the same area. These figures show that international spending remains a key strength for both companies.

Visa’s larger network gives it higher total revenue. Mastercard, however, often reports higher EPS due to differences in cost structure and share count. Both companies continue to invest in technology, security, and new payment services.

Analysts expect Visa to maintain double-digit revenue growth, while Mastercard is expected to grow at high single-digit to low double-digit rates. These forecasts reflect confidence in long-term payment trends.

Why Emissions Matter for Payment Giants

Financial strength is only one part of the comparison. Sustainability has become a growing focus for payment companies, especially as investors demand clearer climate action.

Breaking Down the Carbon Numbers: 2024 Emissions

Both Visa and Mastercard publish actual greenhouse gas (GHG) emission numbers each year. These figures help show how much carbon each company produces from operations and its value chains.

• Visa’s 2024 Emissions

In 2024, Visa shared detailed GHG emissions data. They used the GHG Protocol, which divides emissions into direct and indirect categories. Visa’s sustainability report shows its total operational emissions.

Scope 1 emissions were about 13,510 metric tonnes of CO₂e. For Scope 2, location-based emissions reached 73,448 metric tonnes of CO₂e.

Visa also reported 613,162 metric tonnes of Scope 3 emissions. These are indirect emissions from its value chain. They come from things like purchased goods, services, business travel, and employee commuting. This brings Visa’s total GHG emissions across Scope 1, 2, and 3 to roughly 700,120 metric tonnes of CO₂e in 2024. Scope 3 made up the largest share of these emissions, around 87.6% of the total footprint.

Visa continues to work toward decoupling its business growth from emissions, even as its operations expand. It measures its footprint each year and includes renewable energy and carbon offsets as part of its strategy to manage impact.

• Mastercard’s 2024 Emissions

Mastercard also publishes verified GHG data. In 2024, the company’s total Scope 1, 2, and 3 emissions were 515,981 metric tonnes of CO₂e. This represents a 7% drop from 2023 and a 46% cut from the 2016 baseline.

Mastercard’s Scope 1 and Scope 2 emissions made up about 10% of the total. The other 90% came from Scope 3 indirect emissions throughout its value chain. The company has cut emissions in several categories. It is also on track to meet interim targets approved by the Science-Based Targets initiative.

Mastercard’s environmental strategy focuses on cutting operational emissions. It also aims for 100% renewable energy in its offices and data centers. The company also uses tools and programs to help partners and consumers understand and reduce their own emissions.

These emissions figures help illustrate each company’s current footprint and progress. They provide concrete benchmarks as Visa and Mastercard work toward their long-term climate goals.

Visa’s Path to Net Zero

Visa has committed to reaching net-zero emissions by 2040. This target aligns with the Science-Based Targets initiative (SBTi) and a 1.5°C climate pathway.

Visa achieved operational carbon neutrality in 2020. It maintains this status by using 100% renewable electricity across its global offices and data centers. This covers Scope 1 and Scope 2 emissions, as well as parts of Scope 3, such as business travel and employee commuting.

Visa also works to include sustainability in its products. It offers tools that help partners track the carbon footprint of transactions. The company supports initiatives related to greener transport and digital efficiency.

Visa’s approach focuses on reducing its own operational impact while enabling partners and customers to make more informed choices.

Mastercard’s Climate Playbook

Mastercard has also committed to net-zero emissions by 2040. Its target covers the entire value chain, including Scope 1, Scope 2, and Scope 3 emissions.

As of 2024, Mastercard reported a 46% reduction in greenhouse gas emissions from its 2016 baseline. Like Visa, Mastercard uses 100% renewable electricity for its operations.

One of Mastercard’s most visible initiatives is the Priceless Planet Coalition. The program aims to restore 100 million trees by 2025. As of 2024, the coalition had supported the planting of about 26 million trees.

Mastercard also provides tools that help consumers understand the carbon impact of their purchases. The company integrates sustainability standards into its supplier and partner programs.

Side-by-Side: How Their Climate Strategies Compare

Both companies share several similarities in their climate strategies. Each uses renewable electricity and has committed to long-term net-zero targets. Both also work with partners to extend sustainability beyond their own operations.

There are also differences in focus. Visa emphasizes operational neutrality and payment-based tools that support sustainable choices. Mastercard places more emphasis on measurable emissions reductions and large-scale environmental programs, such as reforestation.

Mastercard’s 46% emissions reduction since 2016 provides a clear progress metric. Visa’s early move to carbon neutrality in 2020 shows leadership in operational emissions.

Neither company directly controls most consumer emissions linked to card use. However, both aim to influence behavior through data, tools, and partnerships.

Looking Ahead: Profits, Payments, and Climate Pressure

Visa and Mastercard remain financially strong. Rising digital payments, global travel, and cross-border commerce continue to support earnings growth. Recent results show that both companies are well-positioned for the years ahead.

At the same time, sustainability expectations continue to rise. Regulators, investors, and consumers want clearer climate action from large financial companies. Both Visa and Mastercard have responded with net-zero commitments and measurable steps.

Challenges remain. Most emissions linked to payments sit outside direct operations. Reducing value-chain emissions will require broader collaboration with banks, merchants, and consumers.

Still, both companies have made climate strategy a core part of their long-term plans. Their progress shows how financial performance and sustainability goals are increasingly linked in the global payments industry.

• READ MORE: Visa vs. Mastercard: Who’s Leading the Charge in Finance, Sustainability, and Net Zero?

The post Visa vs Mastercard: Strong Earnings Meet Rising Climate Pressure appeared first on Carbon Credits.

Europe positions itself as the global driver of the decarbonization agenda. Ambitious targets, regulatory reform and large-scale public funding define the direction. Yet behind the strategy, project pipelines narrow, execution slows down and many initiatives struggle to progress beyond early development. The gap between ambition and delivery continues to widen, making execution-level insight increasingly relevant.

At DECARBON 2026, this perspective takes center stage through insights shared by Marek Drywa, Senior Director Business Development at Worley. His presentation, “Decarbonisation agenda in Europe: market and project observations from the engineering contractor’s perspective,” examines how Europe’s decarbonization efforts perform when viewed from inside active projects.

Drawing on recent European project experience, Worley observes a slowdown since spring 2024 in both the volume and progression of decarbonization projects entering execution. While regulatory frameworks and public funding remain in place, fewer initiatives advance beyond planning into sustained implementation.

At the execution stage, delivery is increasingly shaped by technical complexity, operational constraints and coordination across stakeholders. Engineering timelines, asset readiness and integration challenges now play a more decisive role than strategic intent in determining project outcomes.

Practical perspectives from DECARBON 2026 build on hands-on experience across hydrogen, CCUS, energy storage, pipeline safety and low-carbon fuels. Speakers from LiveEO, SLB, Gasunie and ORLEN reflect on concrete challenges encountered across different segments of the value chain.

Taken together, these contributions highlight recurring structural constraints as well as effective approaches already being applied in practice. The discussion offers a realistic view of what currently supports progress in European decarbonization projects and where delivery continues to stall.

Join the discussion to gain practical insight into Europe’s decarbonization agenda and the realities of turning commitments into executed projects: https://sh.bgs.group/3py

The post From Ambition to Execution: How Europe’s Decarbonisation Agenda Performs on the Project Level appeared first on Carbon Credits.

Apple started fiscal 2026 with a powerful performance. The company reported record revenue, strong earnings growth, and accelerating demand across major regions. At the same time, Apple doubled down on its climate roadmap, highlighting renewable energy use, carbon credits, and ambitious emissions reduction targets. Together, these results show how Apple is balancing profit growth with sustainability leadership.

This analysis breaks down Apple’s Q1 2026 financial performance, regional growth drivers, market reaction, and its climate strategy in simple, easy-to-read language.

In Tim Cook’s words.

“iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment, and Services also achieved an all-time revenue record, up 14 percent from a year ago. We are also excited to announce that our installed base now has more than 2.5 billion active devices, which is a testament to incredible customer satisfaction for the very best products and services in the world.”

Apple’s Q1 2026 Financial Results Show Strong Momentum

Apple reported $143.8 billion in revenue for its fiscal first quarter ended December 27, 2025. That was up 16% year over year, showing strong demand for its products and services.

The company also reported earnings per share (EPS) of $2.84, up 19% from last year. Net income reached $42.1 billion, up from $36.33 billion a year earlier. The board also approved a $0.26 per share dividend, reinforcing its commitment to returning cash to shareholders.

Overall, it beat market expectations on both revenue and profits, signaling strong execution across hardware and services.

Greater China and India Drive Regional Growth

Apple saw broad growth across regions, but Greater China stood out as the top performer. Revenue from the region surged 38% year over year to $25.5 billion. Record iPhone sales and strong store traffic drove the jump.

Other regions also posted solid gains:

• Americas: Revenue grew 11%
• Europe: Up 13%
• Rest of Asia Pacific: Up 18%
• Japan: Up 5%

India was another highlight. Apple achieved quarterly records for iPhone, Mac, iPad, and Services in India. The installed base also grew at a double-digit pace, showing rising brand loyalty and expanding market penetration.

Tim Cook said iPhone demand was strong across all geographies, helping ease earlier concerns about slowing sales in China.

• RECAP: Apple’s Earnings and (AAPL) Stock Up, Emissions Down: How Its 2030 Vision Is Paying Off

AAPL Stock Positive but Measured

Apple’s stock (AAPL) reacted positively after the earnings release on January 29. Shares rose about 1–2% in after-hours trading, reflecting investor confidence in Apple’s performance.

At the time of reporting, Apple stock traded around $259.48, up slightly during the day. Investors seemed encouraged by strong execution but remained cautious about rising AI-related spending and broader tech market uncertainties.

Apple’s Climate Strategy: A Core Part of Its Business Model

Apple continues to position sustainability as a strategic priority. The company said it supports climate policies and works with policymakers and businesses to align with the Paris Agreement goal of net zero emissions by 2050.

Apple’s long-term goal is to become carbon neutral across its entire global footprint by 2030. The plan focuses on renewable energy, recycled materials, and low-carbon transportation.

It aims to:

• Reduce emissions by 75% compared with its 2015 baseline
• Address the remaining 25% through high-quality carbon removal projects
• Use 100% renewable energy across its supply chain
• Increase recycled materials in products, including 99% recycled rare earth elements in magnets

Significantly, Apple already achieved carbon neutrality for corporate operations in 2020, making it one of the first major tech firms to reach that milestone.

The company also promotes science-based targets, transparent emissions reporting, and high-quality carbon removal standards. Apple supports strict ESG criteria for carbon credits to ensure real environmental and community benefits.

Renewable Energy and Supplier Decarbonization

Apple reported that renewable energy procured by suppliers avoided about 21.8 million metric tons of greenhouse gas emissions in 2024.

Many semiconductor and display suppliers pledged to cut fluorinated greenhouse gas emissions by at least 90% by 2030. These gases are extremely potent, so reducing them can significantly lower the tech sector’s climate impact.

Apple also supports policies to expand renewable electricity globally, improve grid infrastructure, and invest in energy storage and transmission. The company encourages life cycle emissions assessments and high-integrity mitigation standards.

Use of Carbon Credits and Nature-Based Projects

Apple has used carbon credits to maintain carbon neutrality for its corporate emissions. The company retired credits from multiple certified projects, including: Chyulu Hills project (Kenya), Guinan afforestation project (China), Alto Mayo project (Peru), Cispatá Mangrove project (Colombia), and REDD+ forest conservation project (Guatemala)

These projects follow VCS and CCB standards, which aim to ensure environmental integrity and social benefits. Apple said it regularly updates its life cycle assessment models to improve transparency and accuracy.

Why Apple’s Financial and Climate Performance Matters

Apple’s strong Q1 2026 results highlight how sustainability and profitability can move together. The company’s revenue growth in China and India shows expanding global demand, while its climate strategy positions it as a leader in corporate decarbonization.

However, Apple’s reliance on carbon credits may attract scrutiny as regulators and investors push for deeper emissions cuts rather than offsets. The tech giant will need to show real reductions across manufacturing, logistics, and product life cycles to maintain credibility.

In conclusion, Apple’s fiscal Q1 2026 marked a powerful start to the year. Revenue and profits surged, driven by strong global demand and regional growth in China and India. Investors responded positively, though cautiously.

At the same time, Apple reinforced its climate ambitions with renewable energy investments, supplier decarbonization efforts, and carbon credit programs. With Apple 2030 approaching, the company faces a critical test: can it continue delivering record financial growth while cutting emissions at scale?

If Apple succeeds, it could set a blueprint for how Big Tech aligns growth with climate leadership in the coming decade.

• Apple (AAPL) Expands Renewable Energy Projects Across Europe to Power Its 2030 Carbon-Neutral Vision 

The post Can Apple Balance Explosive Q1 2026 Growth with Its Net-Zero Promise? appeared first on Carbon Credits.