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Canada to introduce Social Credit System next year with Carbon Counter on Visa Card Purchases

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Vancity has become the first Canadian financial institution to offer a credit card that calculates a user’s carbon footprint. It is partnering with climate-focused German fintech Ecolytiq to offer the carbon calculator.

Starting next year, Vancity Visa cardholders will be able to track their estimated carbon emissions from their credit card purchases. The move is an effort by the credit union to honour its commitment to climate action.

Mastercard last year announced a carbon calculator tool that banks could roll out to customers, but, according to a report from City News Everywhere last month, did not immediately respond to clarify whether any Canadian banks currently offer its calculator tool.

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.


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Republished from Reclaim the Net

The Carbon Counter will allow Vancity cardholders to compare their monthly carbon footprint to the national average. It will also provide advice on how to reduce the 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.”

The Carbon Counter was developed in collaboration with Ecolytiq, a climate engagement tech company based in Europe.

Ecolytiq’s co-founder Ulrich Pietsch said: “We are breaking new ground here. We developed a White Label solution to offer financial institutions all over the world an agile and effective way to offer their customers tools to forge a better tomorrow. With the launch of Carbon Counter, Vancity is solidifying its role as a leading sustainability innovator both in Canada and in the global banking world.”

Visa claims it conducted research that found that 70% of Canadians said sustainability is important to them and more than 50% want to monitor their carbon footprint.

“We are proud to support the launch of Vancity’s CO2 calculator, a first on a Visa card in Canada. This is a great example of how we can empower consumers to understand their environmental impact and honor Visa’s commitment to a sustainable future,” said Visa Canada’s Manager & President Stacey Madge.

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7 days ago

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TexasRed
TexasRed
7 days ago

The carrot comes before the stick. But they always resort to the stick eventually.

John K Leslie
John K Leslie
7 days ago

Such rubbish! ‘Vancity customers could care less about their “footprint”. When they rid themselves of their cars, take a bus, ride a bike, or walk (gasp!) to work for the sake of the environment, then perhaps there is meaning and intent. Pay cash!

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7 days ago

[…] – Canada to introduce Social Credit System next year with Carbon Counter on Visa Card Purchases […]

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7 days ago

[…] Canada to introduce Social Credit System next year with Carbon Counter on Visa Card Purchases […]

Peter Komrska
Peter Komrska
7 days ago

Carbon is a bad sounding word that is meant to mislead people into thinking it is no good for us. Carbon is essential for life to exist on Earth and is a necessary part of the sunlight, oxygen, water, carbon life cycle here. Carbon is good for us.

marlene
marlene
Reply to  Peter Komrska
6 days ago

I agree. They know that. But for them, there’s no money in admitting it. Their carbon print scheme is a redistribution of wealth – from us to them. And also a control mechanism to enslave us – those of us who are left after the depopulation train leaves the station.

marlene
marlene
6 days ago

It’s a disgusting hypocrisy that those who travel in fuel-guzzling, high carbon emission planes, eat red meat from their farm-fresh farting cows while calling US “useless eaters”, and drive on the roads that WE pay for while telling us we’ll “own nothing,: would charge the rest of US for THEIR carbon print! 

Wade
Wade
6 days ago

Cut& burn your visa cards we should have bonfires across the country on New Year’s Eve! Let’s do it.

steven lay
steven lay
6 days ago

if the top 1% uses as much as the bottom 50%, then the easiest way to reduce carbon emissions (which are nowhere near the problem of glyphospates, plastics, endocrine disruptors, gmos, etc) is to get the elite to reduce to the levels of the average person.

steve richmond
steve richmond
Reply to  steven lay
5 days ago

I remember when corrupt politicians, judges and business men were afraid to start there cars 💥

Rick
Rick
4 days ago

Carbon is vilified for no reason. There is no climate change and carbon is needed for all plant life. CO2 is a necessary element and exists for this reason. Globalists have created a false narrative on carbon. All that said, I will not accept any credit card with carbon BS attached to it. period

Seamus
Seamus
1 day ago

It’s just the carrot dangled in front of us donkeys!