Fils, a new venture founded by MENA Fintech Association (MFTA) chairman Nameer Khan, is launching ahead of the COP28 UN climate conference.
-It promotes itself as an infrastructure layer for payment companies wishing to track the environmental impact of their operations and offset said impact through the purchase of carbon credits.
-Embedded through API connectivity, the B2B2C platform claims to consolidate buyers and their capital and suppliers of “high-integrity” carbon credits, and that the offering is applicable to platforms across sectors.
-The start-up’s launch coincides with the UN climate change conference COP28, which will draw 70,000 of the world’s policy makers and leading voices to Expo City in Dubai, UAE.
What does this mean?
Fils accuses companies of failing to incorporate climate actions into their core operations and transactions, despite growing investor and consumer calls for greater transparency and stronger corporate governance.