As climate issues are becoming more prevalent, the finance industry has now changed its way of providing new means of influencing consumer adoption towards sustainable actions by using green credit cards. These cards reward consumers based on their expenditure related to positive environmental habits.
These cards are quite similar to the traditional ones but the focus here is on environmentally friendly products. Most of them are produced with recycled plastic (rPVC) or an alternative from bio.
Rewards include asking consumers to behave more responsibly. Rewards can include high cash back or rewards points.
Most of these cards have tools that monitor carbon emissions, allowing users to see the carbon footprint generated by their purchases. This promotes responsible spending and encourages behavioral changes over time.
Green credit cards promote increased transparency and corporate accountability. Many issuers partner with environmental groups and dedicate a portion of the fees or profits from transactions to conservation and renewable energy projects. This means that each purchase develops amplifying the positive impact.
