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QIB launches carbon emission tracker feature in mobile app

By Delisha Fernandes

December 05, 2023

  • Carbon Emission Tracker
  • carbon footprint
  • Digital Banking
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Qatar Islamic Bank, QIB,QIB has partnered with Visa and ecolytiq to launch its new Carbon Emission Tracker feature, aiming to develop an eco-conscious banking experience for its clients.

The new feature sets a new standard in Qatar and the broader region, reinforcing QIB’s commitment to reshaping the digital banking landscape with a focus on sustainability and environmental awareness.

D. Anand, QIB’s General Manager – Personal Banking Group, said, “The QIB Mobile App stands as the preferred banking channel for our customers, exemplifying our commitment to leading in digital banking through Environmental, Social, and Governance (ESG) principles. We consistently investigate our customers’ daily banking needs and proactively integrate features that align with ESG standards. Our dedication goes beyond addressing current needs; we are steadfast in our investment in technology and innovation to elevate the overall customer experience while working towards a greener, more sustainable environment.”

This new feature aims to enlighten customers about the carbon emissions associated with every card transaction, encouraging them to embrace more eco-friendly financial activities. By fostering awareness and promoting sustainable consumption habits through integrated climate insights, the Carbon Emission Tracker Feature aligns with QIB’s commitment to its collective responsibility to safeguard the planet for future generations.

David Lais, ecolytiq Co-founder and Managing Director  said, “This partnership marks a monumental shift in the market. Climate engagement in banking is coming to Qatar. Our innovative work with QIB and Visa is giving banking customers in Qatar more transparency and choice to live sustainably. We are proud to have been chosen to help QIB guide their customers through the complexity of the environmental crisis by making this a fundamental part of QIB’s banking experience. QIB has decided to embrace the future of banking by being a part of it.”

With the introduction of this new feature, QIB will be able to calculate and account for its carbon footprint originating from its retail banking customer card spends. Some of the key features include environment friendly card spending tips, tracking of cumulative monthly carbon footprint, compare with the previous months carbon emission values, option to refine specific transactions as well as refine customer profile based on individual lifestyle, which will help to see a more accurate carbon footprint impact.

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