Etihad Guest, an award winning loyalty programme from Etihad Airways and the First Abu Dhabi Bank (FAB) have partnered to bring the world’s first co-branded sustainable credit card for the passengers. The aim of the card will be to reward shoppers who go for sustainable choices.
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, provider of digital infrastructure for green finance, which will provide the Sustainability-as-a-Service technology to track sustainable spending. This will support the change of behaviour and issuance of rewards for those making 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 baggage on board, and purchasing sustainable products in the Reward Shop. In their daily lives, when not flying, members can also earn Tier Miles by offsetting everyday emissions such as driving, as well as emissions such as cooling 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 financed over USD 30 Billion in sustainable projects to date. The bank became a signatory to the Abu Dhabi Sustainable Finance Declaration, 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 repurchasing (‘repo’) transaction 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 recognised by MSCI with its ratings for the bank upgraded to AA, defining FAB as an “ESG Leader”.
Visa recently launched Visa Eco Benefits, a new package of sustainability-focused benefits for account issuers designed to enable and encourage cardholders to engage in sustainable consumption behaviours.