Dubai, UAE: 21 December 2023: Careem and Mastercard have launched a new sustainability campaign that will support Mastercard’s Priceless Planet Coalition, a global initiative that unifies efforts to restore 100 million trees. For every Careem Pay wallet top-up transaction using a Mastercard debit card, Emirates Nature-WWF will plant a mangrove in the UAE on behalf of the cardholder.
The timely initiative aligns with the objectives of the 28th UN Climate Change Conference (COP28), hosted in the UAE. Soils found in mangroves in the MENA region are excellent ways to sequester carbon, making it the ideal way to positively impact the environment.
Mastercard powers the Careem Pay wallet top-up feature. The company’s advanced technology enables customers in the UAE to access near real-time payments into their Careem Pay wallets, transforming the Careem app into a hub for rapid money transfers and convenient day-to-day services.
Emirates Nature-WWF is the UAE implementation partner of Mastercard’s Priceless Planet Coalition, a global initiative that unifies corporate efforts to restore 100 million trees worldwide with the aim of contributing to combat climate change.
In the UAE, the Priceless Planet Coalition works as a collaborative platform between Mastercard, Conservation International, Emirates Nature-WWF and the World Resources Institute (WRI) with the support of Dubai Charity Association. Its local efforts focus on the restoration and expansion of mangrove forests and other coastal ecosystems in support of the country’s drive to plant 100 million mangroves by 2030.
“The partnership reaffirms our commitment to reducing our environmental impact in the region through sustainability initiatives. Enabling mangrove-planting efforts helps us offset our carbon footprint in line with our own emission reduction goals and the UAE Net Zero by 2050 Strategic Initiative. We look forward to working with Mastercard towards a net-zero future,” said Mudassir Sheikha, Co-Founder and CEO of Careem.
“At Mastercard, we are dedicated to minimizing the environmental and climate footprint of our own operations, and have pledged to reach net-zero emissions by 2040. We are delighted to partner with Careem on this important initiative, which supports the UAE’s mangrove planting targets while encouraging environmentally conscious consumer behavior and raising awareness about the important role mangroves play in preserving our climate,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
“Through the Priceless Planet Coalition, we are have adopted a robust ecosystem-based approach to implementing a series of restoration actions to enhance the functioning of mangrove and associated coastal ecosystems in the Northern emirates with the aim of optimizing their climate, biodiversity and socio-economic benefits,” said Laila Mostafa Abdullatif, Director General, Emirates Nature-WWF.
