Etihad Guest, the award-winning loyalty program of Etihad Airways, and the largest bank in the United Arab Emirates, First Abu Dhabi Bank (FAB), in partnership with Visa, the global leader in digital payments, will launch a Visa credit card focused on sustainable development.
The card will reward shoppers for making sustainable choices in their daily spending habits.
The FAB Etihad Guest Visa Sustainable Card will introduce a series of sustainability-focused benefits that will educate and reward members for making sustainable choices and provide options to offset emissions for their spending. The partnership is powered by ecolytiq, a digital infrastructure provider for green finance, which will provide Sustainability-as-a-Service® technology to track sustainable spending. This will support behavior change and issuance of rewards for those who make sustainable spending choices.
Etihad is the first airline in the region to reward frequent flyers for being more sustainable in the air and on the ground. Through Conscious Choices, Etihad Guest members are rewarded for offsetting their flights with miles, carrying less luggage on board and purchasing sustainable products from the Rewards Shop. In their daily lives, when not traveling, members can also earn Tier Miles by offsetting daily emissions such as driving, as well as emissions such as air conditioning your home or cooking your dinner, or by donating miles to a meaningful cause.
FAB maintains a leading position in the regional sustainable finance sector. It was the first MENA bank to issue a green bond and has funded over $30 billion in sustainable projects to date. The bank has become a signatory to the Abu Dhabi Declaration on Sustainable Finance, initiated by Abu Dhabi Global Market (ADGM), which advocates sustainable finance and investments for long-term economic growth. Subsequently, the FAB Sustainable Finance Framework was created and used to fund projects that deliver tangible environmental and social benefits. In 2021, the bank executed the first green takeover (“repo”) operation in the Middle East, structured in partnership with Deutsche Bank. FAB was also the first bank in the region to commit to net-zero greenhouse gas emissions by 2050 and to join the Net-Zero Banking Alliance and was part of the official UAE delegation to the COP26 climate conference.
FAB’s focus on sustainability was recently recognized by MSCI with its ratings for the bank raised to AA, defining FAB as an “ESG Leader”.
Visa recently launched Visa Eco Benefits, a new set of sustainability-focused benefits for account issuers designed to enable and incentivize cardholders to adopt sustainable consumer behaviors.
Terry Daly, Executive Director of Customer Experience, Brand and Marketing, Etihad Airways, said, “We are delighted to extend our Conscious Choices sustainability offering to consumers and Etihad Guest members by providing more opportunities to reward sustainable lifestyle choices through our partnership with FAB and Visa. The FAB Etihad Guest Sustainable Visa Credit Card will enable our members to understand where they can act more sustainably and provide incentives whenever they make the sustainable choice in their daily lives and purchases.
Futoon Almazrouei, Head of Consumer Banking Group, First Abu Dhabi Bank, said, “FAB is proud of its role as an advocate for sustainability in the region and our track record is testament to our efforts. Our partnership with Etihad on the FAB Etihad Guest Visa Sustainable Card is a natural progression of our journey to date and takes our commitment even further by encouraging our guests to make more sustainable choices in their daily lives. Last year, we became the first bank in the region to commit to net zero greenhouse gases by 2050, supporting the UAE’s commitment to drive progress. In addition to the steps we take as a group to achieve this, we seek to collaborate and partner with our customers as we work together to create a positive outcome for generations to come.
Andrew Torre, Visa Regional President for Central and Eastern Europe, Middle East and Africa, said, “Sustainability is at the heart of truly inclusive economic growth, and at Visa, we are committed to advancing sustainability in both our business operations and the payments landscape. With the FAB Etihad Guest Sustainable Visa Credit Card, we are pleased to work together to drive sustainable trade and climate action, while meeting the growing demand from cardholders who care passionately about consumerism and life. durable. Together with Etihad Guest and FAB, we are proud to announce the first global partnership leveraging Visa’s green benefits for a sustainability-focused co-branded credit card program that will help guide and encourage sustainable choices.
The launch of Etihad Guest Conscious Choices and the FAB Etihad Guest Sustainable Visa credit card are the latest initiatives as part of Etihad’s overall sustainability ambition to achieve net zero emissions by 2050 and reduce halving 2019’s emissions by 2035. Travelers who want to travel and spend more consciously and sustainably can now earn Tier Miles and other rewards for making sustainable choices.
Over the past two years, despite the challenges of COVID-19, Etihad has launched several significant CO2 reduction initiatives as part of its Greenliner sustainability program. This includes adopting thousands of mangroves, using sustainable fuels, reducing contrails, optimizing flight paths, operating more electric vehicles, and working with partners who share his vision. of a cleaner sky.
“It is important for us to extend our own sustainability ambitions to enable our members and guests to contribute in their own way. We know this is a priority and a cause close to the hearts of many of our customers and partners. As a corporate citizen, we are privileged to be able to help educate consumers to understand their carbon footprint, not only from their travels, but also from their daily expenses. Therefore, we are proud to reward our guests and members for making a conscious decision to reduce their impact on the environment,” added Terry Daly.