Mastercard has collaborated with MDP, a leading financial services provider in Egypt, to introduce an innovative carbon calculator tool.
The Carbon Calculator is a response to the growing consumer demand for environmentally responsible choices. This tool aims to raise awareness and facilitate sustainable purchasing decisions.
Mastercard, renowned for its payment processing network, connects consumers, financial institutions, merchants, governments, and businesses worldwide. It facilitates seamless and secure payment transactions, advancing commerce globally.
The Carbon Calculator, powered by the Doconomy Åland Index, allows users to estimate the carbon emissions associated with their card purchases. It offers insights and comparisons, like the number of trees needed to offset CO2 emissions, fostering eco-consciousness among consumers.
This initiative aligns with Egypt’s Sustainable Development Strategy – Vision 2030. It leverages MDP’s extensive network to promote responsible practices and aims at a sustainable future. Mastercard’s commitment to net-zero emissions by 2040 is evident in this venture, highlighting its role in sustainability.
Mastercard has also developed a directory of sustainable materials and vendors for card products. This initiative aids banks in connecting with card manufacturers, embedding sustainability in the supply chain. The company plans to transition all newly produced cards to recycled and bio-based materials by 2028.
“MDP’s commitment to reducing carbon emissions is pivotal in our collaboration with Mastercard to introduce the Carbon Calculator in Egypt. Every transaction towards a greener world matters,” MDP CEO Ahmed Nafie said. “In line with our commitment to driving positive consumer change and net-zero emissions by 2040, the Carbon Calculator is a significant stride,” Mastercard Country Manager for Egypt, Inji Borai, stated.
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