SYDNEY, Oct 6 (NNN-AGENCIES) – The Commonwealth Bank of Australia (CBA), launched an app, designed to give customers insight into their carbon footprints, along with ways to offset that environmental damage.
The trial plan, which started yesterday, is a joint project with CoGo, a company specialising in carbon tracking technology.
The first phase of the project allows a select group of retail customers, to view their monthly carbon footprints using the CBA app. It is expected the app feature will be available to all eligible customers next year.
The app measures an individual’s carbon output, based on everyday shopping and spending activities. That information will eventually allow a comparison or ranking compared to other customers.
The app will then offer a way for consumers to compensate for their emissions by buying carbon credits. The credits are then used to fund environmentally beneficial projects, such as bushland regeneration.
CBA’s head of retail banking, Angus Sullivan, said, the “green initiative” came in response to overwhelming customer feedback.
“By combining our rich customer data and CoGo’s industry-leading capability in measuring carbon outputs, we will be able to provide greater transparency for customers, so that they can take actionable steps to reduce their environmental footprint,” Sullivan said.
CoGo founder, Ben Gleisner, said, businesses and consumers were “looking for greater transparency around their carbon footprint” and that, projects such as this, enabled banks to “harness the power of millions of customers worldwide, to make a powerful collective difference.”– NNN-AGENCIES