Canadian Bank Will Soon Track Personal Esg Metrics For Individuals (2022)

A bank in Canada has become the first in the country to launch a credit card that tracks a customer’s carbon emissions, amid concerns that such a scheme could one day be used to restrict purchases.

In an effort by the credit union to display its commitment to ‘climate action’, Vancity will offer a credit card that links purchases to carbon emissions, allowing customers to compare their monthly carbon footprint to the national average.

The bank will also advise customers on how to limit their carbon footprint.

“We know many Vancity members are looking for ways to reduce the impact they have on the environment, particularly when it comes to the emissions that cause climate change,” said Jonathan Fowlie, Vancity’s Chief External Relations Officer.

“As a member-owned financial cooperative, we believe it is our job to do everything we can to help, especially when it comes to the decisions people make with their money. This tool will equip Vancity Visa credit cardholders with valuable information on their purchases and enable them to connect their daily spending decisions to the change they want to see in the world.”

According to research carried out by Visa, more than 50% of Canadians are interested in monitoring their carbon footprint.^[1]