Doha Bank has entered into a collaboration with Mastercard aimed at leveraging the global technology company’s innovative solutions to help drive its sustainability offerings
The bank will be implementing Mastercard’s Carbon Calculator, has joined its Priceless Planet Coalition and also signed Mastercard’s Qatar Sustainable Cards Pledge.
Launched in March, the Qatar Sustainable Cards Pledge mobilises the country’s banks to transition first-use plastics out of its physical payments cards by 2026, two years ahead of Mastercard’s global commitment of 2028. As part of the Pledge, Doha Bank will start issuing certified sustainable cards in 2025.
Mastercard is supporting its issuing partners through the shift away from first-use PVC by connecting them with approved suppliers they can use to produce their cards.
“Globally, over 750 customers from more than 100 countries have already signed up to transition more than 630million cards across the company’s network to more sustainable materials, including recycled or bio-sourced plastics, such as rPVC, rPET or PLA.”
Doha Bank has also joined Mastercard’s Priceless Planet Coalition, which unifies corporate and consumer efforts to fund the restoration of 100mn trees worldwide with the aim of contributing to the fight against climate change. The global initiative currently has over 150 partners.
The partnership will also see the introduction of Mastercard’s Carbon Calculator. Developed in partnership with Swedish fintech company Doconomy, Mastercard’s Carbon Calculator allows consumers to receive a snapshot of the estimated carbon emissions generated by their purchases.
“Doha Bank is dedicated to environmental protection and climate action in line with the Qatar National Vision 2030. Strengthening our long-standing strategic partnership with Mastercard, our new sustainability-focused collaboration will significantly enhance our efforts in this space.
“The Carbon Calculator will enable us to motivate our customers to make more climate-friendly purchasing decisions, and the Priceless Planet Coalition will allow us to contribute to global reforestation. Meanwhile, the Qatar Sustainable Cards Pledge will help us reduce the environmental impact of our operations,” said Dimitrios Kokosioulis, Deputy Chief Executive Officer, Doha Bank.
“At Mastercard, we actively contribute to building a future where people and the planet can thrive in line with our ethos of doing well by doing good. To realise this vision, we are developing products and solutions that harness the power of our global network to encourage environmentally conscious consumer behaviour and promote sustainability efforts across the banking and finance sector. “We are delighted to see Doha Bank reaffirm its commitment to sustainability through signing the Qatar Sustainable Cards Pledge, joining the Priceless Planet Coalition and making our Carbon Calculator available to its customers,” said Erdem Çakar, Country Manager, Qatar and Kuwait, Mastercard.
Sustainability has emerged as a pressing concern in the Middle East and North Africa. Data by Statista shows that 65% of the region’s consumers view climate change as a serious global threat.
