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Vancity Adds Emission Tracking Feature to Credit Cards

The Canadian financial cooperative, Vancity, has implemented a CO2 emissions tracking feature for credit card holders.

Vancity Adds Emission Tracking Feature to Credit Cards

Source: Pixabay.com

Vancity continues to take action as part of the implementation of the strategy of commitment to combat climate change. This financial institution was the first in Canada to offer its customers permanent access to information about the level of CO2 emissions observed when shopping with plastic cards.

Every Visa Vancity credit card holder has been given the opportunity to track carbon dioxide emissions when making card purchases using the new credit union carbon meter. Users can view their monthly bills and compare them with the national average. They can also determine which credit card purchases are characterized by the highest environmental costs.

The carbon emissions meter will help determine the carbon footprint left in each individual case of using a plastic card and will advise a new model of behavior to reduce emissions.

Jonathan Fowley, Chief External Relations Specialist at Vancity, who is the head of projects aimed at reducing the negative impact on the environment, noted that the institution’s clients support all initiatives related to addressing environmental issues.

The carbon Emissions meter provides Visa credit card holders with estimated carbon emissions data for their purchases. This solution allows users to align their financial behavior with the achievement of the environmental protection goals that they support.

Vancity has established a partnership with Ecolytiq, one of the leading European companies developing technologies to combat climate change. Within the framework of this cooperation, a carbon emission meter was created.

Ecolytiq cooperates with financial institutions in order to develop solutions that make actions aimed at protecting the environment a common practice in the format of everyday customer behavior.

As we have reported earlier, Green Investment Hit a Milestone in 2022.

 

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.