By Canadian Press

Vancity to offer carbon footprint tracker for its Visa credit cards

Oct 19, 2022 | 9:26 AM

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

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.

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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.

This report by The Canadian Press was first published Oct. 19, 2022.

The Canadian Press