Fils launches as digital ESG infrastructure for payments sector
Fils, a new venture founded by MENA Fintech Association (MFTA) chairman Nameer Khan, is launching ahead of the COP28 UN climate conference next week.
Fils launches ahead of COP28
With offices in Dubai and London, the start-up 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.
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.
MFTA chairman Khan, who serves at the start-up’s CEO and also founded the Pakistan Fintech Summit, describes his latest venture as “a catalyst for the evolution of ESG enforcement”, dispelling the promotional opportunity of greenwashing while inspiring greater accountability.
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 when it commences next week.
