ADCB introduces Mastercard carbon calculator for businesses
By Delisha Fernandes
Abu Dhabi Commercial Bank (ADCB) has introduced Mastercard Carbon Calculator, an innovative tool that supports the sustainability ambitions of businesses by providing data on the estimated carbon footprint of their corporate expenditure using the ADCB corporate cards.
Developed by Mastercard, together with the Swedish FinTech company Doconomy, the Carbon Calculator informs customers about the estimated carbon footprint of their purchases. The tool estimates the environmental impact of each purchase using a weighted calculation, powered by the independently verified Doconomy Åland Index.
“At the core of our approach is a commitment to support our customers in their path to a successful transition. Collaboration on this journey is paramount, and our partnership with Mastercard forms a key element of the Bank’s initiatives to promote sustainable business practices. We are proud to offer our corporate clients the Carbon Calculator, in partnership with Mastercard, which will help in the measurement of environmental impacts and facilitate sustainable decision-making,” said Mohammed Al Jayyash, Group Chief Operations Officer at ADCB.
This initiative aligns with the UAE’s ambition towards net zero emissions by 2050 as well as global sustainability goals. It comes at a crucial time, when both public and private sector entities are ramping up their efforts to reduce their carbon footprints.
“Mastercard’s ongoing efforts in sustainability have set new industry benchmarks. We are committed to driving our business toward net zero emissions by 2040 and accelerating the transition to a low-carbon, regenerative economy. This partnership is a significant step forward in scaling up the positive impact of the Carbon Calculator and mobilizing against climate change, leveraging our network to give businesses tools to have visibility into the environmental impact of their purchases,” said Khalid Elgibali, Division President, Middle East and North Africa, Mastercard.
IBSi Daily News Analysis
February 28, 2024
Abu Dhabi Commercial Bank
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