Ajman Bank has entered into a collaboration with Mastercard in order to leverage the technology giant’s innovative solutions to drive sustainability.
“The award-winning bank will implement Mastercard’s Carbon Calculator and signed its UAE Sustainable Cards Pledge,” as per the statement.
Developed by Mastercard in partnership with Swedish fintech company Doconomy, the Carbon Calculator allows consumers to receive a snapshot of the estimated carbon emissions generated by their purchases. It also offers them the option to contribute to reforestation through Mastercard’s Priceless Planet Coalition. Banks and financial institutions can seamlessly integrate the feature into their mobile apps through APIs that are available on the Mastercard Developers website.
Announced at the 28th UN Climate Change Conference (COP28) in Dubai, the UAE Sustainable Cards Pledge mobilizes the country’s banks to switch to cards made from more sustainable materials- including recycled or bio-sourced plastics such as rPVC, rPET, or PLA1 – by 2025.
Khalid Elgibali, Division President, Middle East & North Africa, Mastercard, said that, “At Mastercard, we actively contribute to building a sustainable world in line with our ethos of doing well by doing good. To realize this vision, we are developing products and solutions that harness the power of our global network to encourage environmentally conscious consumer behavior and promote sustainability across the banking and finance sector.”
“We are delighted to see Ajman Bank reaffirm its commitment to sustainability through the signing of our UAE Sustainable Cards Pledge and making our Carbon Calculator available to its customers,” Elgibali further added.