Payments company Mastercard and Swedish FinTech Doconomy launched a carbon calculator that allows consumers and banks in the UAE to understand the impact their purchases have on the environment.
The calculator allows users to gauge the amount of carbon emissions generated by their purchases across various categories, the payments company said in a statement on Thursday.
Banks and financial institutions can integrate the carbon calculator into their mobile apps through application programming interfaces available on Mastercard Developers.
"The New Mastercard feature enables banks to equip people with carbon footprint data and insights to help inform consumer spending and offer ways to contribute to reforestation," said Gaurang Shah, Mastercard’s senior vice president, product management, digital payments & labs for Middle East and Africa.
The calculator is powered by Doconomy Åland Index and can also be enhanced further with equivalents such as the number of trees required to absorb the carbon.
Mastercard's move comes as consumers become increasingly cautious about their carbon footprint following the Covid-19 pandemic, which saw a record decline in emissions.
Around 96 per cent of adults in the UAE are willing to take personal action to combat environmental and sustainability issues, according to a survey by Mastercard. A quarter of those surveyed said they wouldn't buy from brands that have not undertaken pledges to help the environment or behave sustainably.
Increased awareness about sustainability among consumers has also driven businesses to pledge to become carbon neutral. Many companies, including tech titans such as Apple and Amazon, which are often criticised for their energy-intensive operations, have pledged to reach net-zero emissions in a few years.
Last year, Amazon's billionaire chief executive Jeff Bezos pledged $10 billion to fund scientists, activists, charities and other groups fighting to protect the environment and counter the effects of climate change.
The e-commerce company is also aiming to run on 100 per cent renewable energy by 2025 and is investing in the deployment of 100,000 electric vehicles from US car maker Rivian, some of which will be operational by 2021.
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Killing of Qassem Suleimani
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
In 2018, the ICRC received 27,756 trace requests in the Middle East alone. The global total was 45,507.
There are 139,018 global trace requests that have not been resolved yet, 55,672 of these are in the Middle East region.
More than 540,000 individuals approached the ICRC in the Middle East asking to be reunited with missing loved ones in 2018.
The total figure for the entire world was 654,000 in 2018.
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Fast%20X
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What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
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