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Vancity to offer carbon footprint credit card

Darpan News Desk The Canadian Press, 19 Oct, 2022 03:59 PM

Vancity says it is launching a program that will allow its Visa credit card holders to track the estimated carbon emissions of their purchases.

Launching in 2023, we will be the first financial institution in Canada to offer members and cardholders a tool to estimate the CO2 emissions from their Vancity enviroVisa card purchases – the Vancity Carbon Counter! https://t.co/TYhHjn2eRP
— Vancity (@Vancity) October 19, 2022

The Vancouver-based credit union says all Vancity Visa credit card holders will be offered the data, which will also include how their spending-linked emissions compare nationally and which purchases have the highest environmental cost.

Vancity says it is partnering with climate-focused German fintech ecolytiq to offer the carbon calculator.

The credit union says it will be the first to offer a Visa-based carbon footprint calculator in Canada when the program becomes available in the new year.

Mastercard last year announced a carbon calculator tool that banks could roll out to customers, but did not immediately respond to clarify whether any Canadian banks currently offer its calculator tool.

The Mastercard option was rolled out in collaboration with Doconomy, a Swedish fintech company that in 2019 launched a credit card with a carbon footprint limit.

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