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doha
Doha Bank has partnered with global technology leader Mastercard to boost its sustainability efforts through the adoption of innovative solutions. The collaboration will see Doha Bank implement Mastercard’s Carbon Calculator, join the Priceless Planet Coalition, and sign the Qatar Sustainable Cards Pledge, marking significant strides toward environmental responsibility.
One of the key initiatives is the Qatar Sustainable Cards Pledge, launched in March 2024. This pledge mobilizes the nation’s banks to eliminate first-use plastics from physical payment cards by 2026, ahead of Mastercard’s global target of 2028. Doha Bank, as part of its commitment, will begin issuing certified sustainable cards starting in 2025.
Mastercard is assisting its banking partners, including Doha Bank, in the transition to more sustainable cards by connecting them with certified suppliers. These suppliers provide materials made from recycled or bio-sourced plastics, such as rPVC, rPET, and PLA. Globally, Mastercard has signed up over 750 customers from more than 100 countries, transitioning over 630 million cards to environmentally friendly materials.
Doha Bank’s collaboration with Mastercard also extends to joining the Priceless Planet Coalition, a global initiative that unites corporate and consumer efforts to restore 100 million trees worldwide. This reforestation drive, which aims to mitigate climate change, currently has more than 150 partners.
Additionally, Doha Bank will integrate Mastercard’s Carbon Calculator into its offerings. Developed in partnership with Swedish fintech company Doconomy, the Carbon Calculator enables consumers to track the estimated carbon emissions of their purchases. This tool encourages environmentally conscious consumer behavior by raising awareness of the carbon impact of daily spending.
Dimitrios Kokosioulis, Deputy Chief Executive Officer of Doha Bank, emphasised the bank’s commitment to environmental sustainability in line with 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,” Kokosioulis said.
Mastercard’s Country Manager for Qatar and Kuwait, Erdem Çakar, expressed excitement over Doha Bank’s commitment to sustainability. “At Mastercard, we actively contribute to building a future where people and the planet can thrive. 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,” Cakar stated.
As environmental concerns continue to rise in the Middle East and North Africa, with 65 percent of the region’s consumers viewing climate change as a serious global threat, according to Statista, Doha Bank’s partnership with Mastercard highlights the growing emphasis on sustainable business practices in the region.
