Doha Bank, Mastercard Team Up for Sustainable Cards

Doha, Qatar – Doha Bank announced its strategic collaboration with Mastercard to drive sustainability in the banking sector. Under this partnership, several key initiatives will be launched, which include the introduction of sustainable payment cards, the use of Mastercard's Carbon Calculator, and membership in the Priceless Planet Coalition. These activities are in line with the Qatar National Vision 2030 objectives and part of a wider regional drive toward environmental accountability. Sustainable Payment Cards Launch As part of this agreement, Doha Bank will introduce sustainable payment cards in 2025. This is part of the dedication known as the Qatar Sustainable Cards Pledge, launched in March 2024. This dedication is focused on avoiding the use of first-use plastics in physical payment cards by 2026—two years ahead of Mastercard's global target of 2028. It has assisted its partners in offloading first-use PVC by connecting them with the accepted providers for producing plastic cards made from recycled or bio-sourced material. Across the globe, over 750 clients spanning more than 100 countries are part of this shift, with over 630 million cards converted to sustainable materials. Carbon Calculator Integration from Mastercard Besides the sustainable card initiative, Doha Bank will add Mastercard's Carbon Calculator to its offerings. Developed in collaboration with Swedish fintech firm Doconomy, the feature tracks the carbon emissions that purchases generate. It wants to give customers of Doha Bank a better way to be more conscious of the impact on the environment. The Carbon Calculator will provide users with a detailed review of their carbon footprint, hence raising awareness to drive consumers to sustainable behavior. Participation in the Priceless Planet Coalition Doha Bank has also joined Mastercard's Priceless Planet Coalition, which aims to plant 100 million trees worldwide as part of the fight against climate change. With this, the coalition is able to pool over 150 global partners in collaborative efforts toward reforestation and taking care of the environment. This cooperation is just one among many others that Doha Bank is engaging in for environmental protection and climate action. Through its membership in the Priceless Planet Coalition, the bank is committed to contributing to global reforestation to support efforts against climate change. Sustainability Trends in the Region Sustainability is gathering some considerable momentum within the MENA region as more consumers realize the urgency to act against climate change. In the research by Statista, 65% of consumers in the region consider climate change a severe global problem. This collaboration of Doha Bank with Mastercard falls perfectly in line with this trend, as both organizations work toward making long-term sustainable practices a part of their operations and products. The cooperation will hopefully act as an example to other financial institutions in the region and contribute toward a more sustainable future. Looking Ahead The collaboration of Doha Bank with Mastercard becomes a giant step toward increasing the sustainability in the banking industry. Introducing sustainable cards, implementing Carbon Calculator, and actively participating in global initiatives like the Priceless Planet Coalition place Doha Bank well on the way to becoming an environmentally responsible leader. As the MENA region increases its focus on sustainability, such partnerships will increasingly become the key drivers of positive change and a contributor to global efforts on mitigation of climate change. Source: Doha Bank