Doha Bank Partners with Mastercard for Sustainable Cards
Highlights
Doha Bank and Mastercard are collaborating on sustainability in banking.
Doha Bank will launch sustainable cards in 2025.
Mastercard’s tool tracks carbon emissions from purchases.
Over 150 partners support global reforestation.
Doha Bank partners with Mastercard to drive sustainability. As part of this partnership, Doha Bank will use Mastercard’s Carbon Calculator and join the Priceless Planet Coalition and Qatar Sustainable Cards Pledge.
Qatar Sustainable Cards Pledge was launched in March 2024 to eliminate first-use plastics from physical payment cards by 2026, two years ahead of Mastercard’s global target of 2028. As part of this pledge, Doha Bank will launch sustainable cards in 2025.
Mastercard is helping its partners move away from first-use PVC by connecting them with approved suppliers for card production. Globally, over 750 clients from more than 100 countries are switching over 630 million cards to recycled or bio-sourced plastics.
Also, Doha Bank has joined the Priceless Planet Coalition, an initiative to plant 100 million trees globally to combat climate change. The coalition has over 150 partners working towards this goal.
The partnership will also introduce Mastercard’s Carbon Calculator, developed with Swedish fintech Doconomy. This tool will give consumers an overview of the carbon emissions from their purchases.
Dimitrios Kokosioulis, Deputy CEO of Doha Bank, said: "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."
Erdem Çakar, Country Manager for Qatar and Kuwait at Mastercard said: "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."
Sustainability is gaining momentum in the Middle East and North Africa, with 65% of the region’s consumers considering climate change a serious global issue, according to Statista.
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Source: Doha Bank
