Abu Dhabi Commercial Bank introduces the Mastercard Carbon Calculator

Abu Dhabi Commercial Bank (ADCB) recently announced its partnership with Mastercard, one of the two leading credit card providers. As a result of the partnership, the bank will be able to introduce the region’s first Mastercard Carbon Calculator.

Mastercard Carbon Calculator arrives in the Middle East

The calculator — which is the first in not only Abu Dhabi or the UAE but also the entire Middle East — will operate as a tool meant to support local companies. Numerous firms are engaging in sustainable ventures, and the Carbon Calculator will help them by estimating carbon emissions that are released by the firms’ business spending decisions.

As the name suggests, the calculator was created by Mastercard, which developed it in partnership with Doconomy, a fintech based in Sweden. It is also quite a new tool on the market, as it saw its official launch less than a month ago, during the COP28 climate conference.

Now that it is officially available in the Middle East, the Carbon calculator can provide customers data — specifically, estimations on their carbon footprint, based on their purchases. The initiative is another step toward reaching the UAE’s goal of net zero commitment by 2050.

Due to the Paris Agreement guidelines, ACDB is also a part of the United Nations’ Net-Zero Banking Alliance. As such, it also became a member of Mastercard’s Priceless Planet Coalition.

Carbon calculator will benefit ADCB’s mission

The bank’s Group Chief Operations Officer, Mohammed Al Jayyash, commented on the new development by saying that ADCB has adopted an enhanced climate strategy. He said that the bank has aligned with the UAE’s ambition to build an inclusive, net-zero economy.

Of course, the bank has its own approach to helping achieve that goal, and at its core is a commitment to supporting the customers on their own path to performing a successful transition. Doing so will take time, money, and considerable effort, not only to make the change but also to get used to it. As a result, any helpful tool that can provide aid on that road is a plus.

The bank’s official also added that collaboration on this journey is another aspect that is of the highest importance. This is where the partnership with Mastercard forms a key element of the bank’s initiatives to promote sustainable business practices.

He also added that the ADCB team is proud to be able to offer access to the Carbon Calculator to its corporate clients, which was only possible thanks to the partnership with Mastercard. The card issuer’s tool will be a huge help in the measurement of environmental impacts and in facilitating sustainable decision-making.