In a strategic collaboration, Mastercard has joined forces with MDP, a prominent financial services provider in Egypt, to introduce an innovative Carbon Calculator tool. Responding to the increasing consumer demand for environmentally responsible choices, this tool aims to raise awareness and facilitate sustainable purchasing decisions.
Mastercard, a global leader in payment processing networks, plays a crucial role in connecting consumers, financial institutions, merchants, governments, and businesses worldwide. The company is renowned for facilitating seamless and secure payment transactions, thereby advancing commerce on a global scale.
The Carbon Calculator, powered by the Doconomy Åland Index, enables users to estimate the carbon emissions associated with their card purchases. Providing insights and comparisons, such as the number of trees required to offset CO2 emissions, the tool is designed to foster eco-consciousness among consumers.
This initiative aligns with Egypt’s Sustainable Development Strategy – Vision 2030. Leveraging MDP’s extensive network, the collaboration seeks to promote responsible practices and contribute to a sustainable future. Mastercard’s commitment to achieving net-zero emissions by 2040 is clearly demonstrated through this venture, emphasising the company’s pivotal role in advancing sustainability.
In addition to the Carbon Calculator, Mastercard has also developed a directory of sustainable materials and vendors for card products. This initiative assists banks in connecting with card manufacturers, thereby embedding sustainability in the supply chain. Notably, the company has set ambitious goals to transition all newly produced cards to recycled and bio-based materials by 2028.
MDP CEO Ahmed Nafie emphasised the significance of reducing carbon emissions in the collaboration, stating, “Every transaction towards a greener world matters.” Inji Borai, Mastercard Country Manager for Egypt, highlighted the Carbon Calculator as a significant stride in line with the commitment to driving positive consumer change and achieving net-zero emissions by 2040.