In line with international ESG guidelines and corporate best practices, Visa’s overall approach to ESG focuses on identifying priority topics at the intersection of relevance to Visa’s long-term business strategy and success and importance to our stakeholders, including employees, clients, investors and ratings agencies, governments, civil society organizations, communities and others.
To inform our ESG strategy, Visa conducts a biennial ESG materiality assessment in accordance with the Global Reporting Initiative (GRI) guidelines while also monitoring and reassessing our approach to managing priority topics during interim years. Our biennial materiality assessment process includes the following steps:
- Benchmarking: We research peers and sustainability leaders to understand the current ESG landscape.
- Identification: We review a broad set of stakeholder sources to identify ESG issues likely to be most relevant to Visa, including input from customer and client information requests on ESG topics, employee surveys and direct feedback from our shareholders. We also interview internal and external stakeholders to capture their perspectives on the most salient ESG risks and opportunities to our business.
- Prioritization: We conduct quantitative and qualitative analysis to prioritize ESG topics.
- Validation: We share assessment results with our leadership to confirm the final prioritization of topics and to help us refine our ESG strategy.