Mashreq & Fils to develop corporate carbon offsetting services

Mashreq & Fils to develop corporate carbon offsetting services

Mashreq, one of the leading financial institutions in the MENA region, has signed a Memorandum of Understanding (MoU) with the UAE-based fintech firm, Fils, to develop a corporate carbon offsetting offerings. The carbon offsetting helps corporate and institutional clients to integrate carbon offsetting directly from their Mashreq corporate accounts. Fils is a groundbreaking, enterprise-grade, digital […]Mashreq, one of the leading financial institutions in the MENA region, has signed a Memorandum of Understanding (MoU) with the UAE-based fintech firm, Fils, to develop a corporate carbon offsetting offerings.

The carbon offsetting helps corporate and institutional clients to integrate carbon offsetting directly from their Mashreq corporate accounts.

Fils is a groundbreaking, enterprise-grade, digital platform that provides the underlying infrastructure for financial institutions, banks and other organizations across industries to launch standalone, sustainable-focused products such as carbon offsetting.

This approach to the future of fintech facilitates the transition to an Environmental, Social, and Corporate Governance (ESG) compliant corporate landscape, enabling companies of all sizes to effortlessly embed sustainable and climate action into their business models and customer journeys, across industries. 

In a bid to eliminate the deceptive practice of misrepresenting environmental responsibility through greenwashing, Fils infrastructure uses blockchain technology to track all carbon credits used to avoid