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Greener swipe for Egytians? Mastercard & MDP launch carbon calculator that could force businesses take a second look at their supply chain sustainable practices. Read all about it here: https://lnkd.in/dq29mFSP

🌱 GREEN NEWS 🌱 MASTERCARD LAUNCHES CARD RECYCLING CAMPAIGN, "RESCUING" BILLIONS OF CARDS FROM BECOMING PLASTIC WASTE 🌟 Payment company Mastercard has announced a global project to recycle credit and debit cards. The campaign is part of a plan to "rescue" billions of cards circulating in the industry from ending up as waste. 🎯 Initially, Mastercard partnered with 8 branches of UK's HSBC bank. However, other banks around the world also expressed interest in joining the initiative and contributing to the campaign fund. 🌱 Mastercard will provide card shredding machines to HSBC, with each machine capable of holding 10,000 cards, equivalent to 50kg of plastic. When the machine is full, the cards will be transferred to a plastic recycling facility. This trial project is expected to last for 6 months, allowing customers to recycle any plastic card, including banking cards from competing institutions. 🌟 Currently, Mastercard estimates that there are around 3.1 billion cards in circulation, with approximately 600 million cards produced each year. The increasing demand for banking cards has become one of the world's biggest environmental concerns, generating tons of buried plastic waste in landfills and polluting water sources. Plastic production also contributes to greenhouse gas emissions, causing global warming. Source: Inside Retail _________________________________________________ 🌱 GREEN INNOVATION FELLOWSHIP - A program aimed at seeking, promoting, and applying solutions that drive sustainable development for businesses in Vietnam and the region. #GreenInnovationFellowship #GIF2023 #IBP #BSSC #Green #startup #Sustainability #Greeneconomy #esg #card #fund #bank #plasticwaste #recycle #machine 

Although the overall contribution of payment cards to the global plastic waste problem is relatively small, we, at Mastercard, considered we can do something to tackle the issue. Our solution was Mastercard’s Sustainable Card Materials Directory, the world’s first directory of sustainable card materials and information on where to source them for card issuers globally. A potentially even bigger opportunity to benefit the environment concerns information around card use. Or more specifically, empower consumers in two areas: knowledge and ease. A common perception is that only companies and governments can really make a difference, when in reality everyone can play a role. Through carbon calculations and carbon reductions, such as Mastercard Carbon Calculator, instrument which allows consumers to view the estimated carbon footprint of all their purchases, the underlying card network takes cardholders beyond shared payment experiences into shared consumption choices. And in doing so, they can truly make a difference. More info on how payment card popularity lays a pathway to sustainable consumption is available at 🧷: https://lnkd.in/eZ7b_xPX #ESG #CardPayments #MastercardEmployee  

Discover how the financial industry is embracing a sustainable revolution as ESG pressures grow, paving the way for the obsolescence of traditional plastic cards in favor of contactless digital payment systems. This transition not only addresses plastic pollution and carbon emissions but also underscores the importance of bridging the digital divide and educating older generations for inclusive access to financial services. Read the insightful article by Pavlo Khropatyy, VP, Global Head of Delivery FS&I at Intellias, on Finance Digest to contribute to a greener and more inclusive financial landscape. #intellivoice