User will be able to calculate the carbon footprint generated by their Visa transactions, and access options for carbon offsetting or charitable donations from their bank’s website or app. Additionally, cardholders can also access personalized tips and education on sustainable consumption as well as receive physical payment cards made from sustainable materials. Banks in Asia Pacific that sign up for Eco Benefits will be able to offer these solutions to their Visa cardholders and meet a growing demand for sustainable financial services.
Visa Eco Benefits is in line with the payment giant’s pledge to reach net-zero emissions by 2040, ten years ahead of the Paris Climate Agreement goal. The majority (78 percent) of people in Asia Pacific said they are more likely to make more environmentally friendly purchases if they’re able to see their carbon footprint and take steps to change their spending habits. Consumer household expenditure – the products and services we purchase every day – is a major contributor of global greenhouse gas emissions. That gives us as consumers a phenomenal opportunity to address climate change by offsetting the carbon footprint of our day-to-day behavior and start to live a carbon neutral life.