Abu Dhabi Commercial Bank (ADCB) has partnered with Mastercard to introduce the Mastercard Carbon Calculator in the Middle East.
The calculator will operate as a tool to support companies in their sustainable ventures by estimating carbon emissions released by their business spending decisions. The tool was created in a partnership between Mastercard and Sweden-based fintech Doconomy, and officially launched during the COP28 climate conference last month.
The Carbon calculator will provide customers data on their estimated carbon footprint based on their purchases. The initiative aligns with the UAE’s 2050 net zero commitment.
Following the guidelines of the Paris Agreement, ACDB is also a part of the UN’s Net-Zero Banking Alliance and has joined Mastercard’s Priceless Planet Coalition.
Mohammed Al Jayyash, Group Chief Operations Officer at ADCB commented: “ADCB has adopted an enhanced climate strategy, aligned with the UAE’s ambition for an inclusive, net zero economy. 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.”