TERRITORIES OF MUSQUEAM, SQUAMISH AND TSLEIL-WAUTUTH NATIONS and VANCOUVER, British Columbia, Oct. 19, 2022 (GLOBE NEWSWIRE) — Vancity is taking one other step in its dedication to local weather motion. It would be the first monetary establishment in Canada to supply its particular person and business members a strategy to estimate the CO2 emissions that come from their purchases.
Starting within the new 12 months, each Vancity Visa credit cardholder will be capable of observe the estimated carbon emissions of their credit card purchases. Members will be capable of see how their month-to-month tally compares to the nationwide common, or which credit card purchases have the very best environmental value. The Carbon Counter will assist Vancity cardholders perceive the carbon footprint of their purchases in addition to present recommendation on what they will do to cut back their emissions 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,” mentioned Jonathan Fowlie, Vancity’s Chief External Relations Officer who oversees the credit union’s affect and local weather efforts. “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.”
Vancity is partnering with ecolytiq, certainly one of Europe’s main local weather engagement know-how firms, to offer the primary Visa Carbon Counter in Canada. The ecolytiq resolution combines local weather consciousness, schooling, and behavioral nudging in its software for monetary establishments.
“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 honour Visa’s commitment to a sustainable future,” mentioned Stacey Madge, Country Manager & President, Visa Canada.
Vancity is a values-driven member-owned cooperative the place lots of the members select to financial institution due to the credit union’s document and ongoing work on the surroundings. Consumer analysis* by Visa signifies 70 per cent of Canadian customers say sustainability is essential to them, and, importantly, greater than half need to higher perceive their carbon footprint. The Vancity Carbon Counter will enable them to do that.
“We are breaking new ground here,” mentioned Ulrich Pietsch, ecolytiq Co-Founder and Managing Director. “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.”
Vancity needs to not solely assist its members perceive the affect of their spending on the surroundings, but additionally present insights into decrease emission choices. In addition to offering a snapshot of your “count,” the Carbon Counter offers insights on find out how to scale back your carbon “spending” and suggestions for extra sustainable decisions.
About Vancity
Vancity is a values-based monetary co-operative serving the wants of its greater than 560,000 member-owners and their communities, with places of work and 54 branches situated in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay, inside the territories of the Coast Salish and Kwakwaka’wakw folks. With $33 billion in belongings plus belongings below administration, Vancity is Canada’s largest neighborhood credit union. Vancity makes use of its belongings to assist enhance the monetary well-being of its members whereas on the identical time serving to to develop wholesome communities that are socially, economically and environmentally sustainable.
Media Contact:
[email protected]
T: 778-837-0394
About ecolytiq
The Sustainability-as-a-Service® resolution from ecolytiq allows banks, fintech firms and monetary service suppliers to point out their prospects the person affect their buying conduct is having on the surroundings in actual time. The ecolytiq software program calculates private environmental impacts, corresponding to CO2 values, on the idea of fee transactions. In November 2020, ecolytiq joined the Visa Fintech Partner Connect programme, enabling banks to seamlessly implement their sustainability methods utilizing fee knowledge. www.ecolytiq.com
ecolytiq media contact: Yuki Hayashi I ecolytiq GmbH I [email protected]
T: +49 30 2201232-80
* Research was carried out by Visa Inc. amongst 501 Canadians aged 18 and older, between August and September 2021.
A photograph accompanying this announcement is accessible at https://www.globenewswire.com/NewsRoom/AttachmentNg/2df97af6-bb83-4fdc-8cd5-ea673959641c
