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The talks about climate change have been around for quite a while. A new study sponsored by Mastercard has shown that during the pandemic billions of people switched to more sustainable behaviors in 24 countries. Around 54 percent of the people surveyed think that reducing the carbon footprint much more important now.
Yeah, and a major proportion of adults about 85 percent say that they are eager to address the issues of environment and sustainability at a personal level in 2021 (Bravo! Thoughtful humans!). This implies that by and large there is a positive trend in terms of eco-conscious consumption and spending among the people who want to turn their rewards redemption and purchases into something productive and meaningful for the planet.
To contribute their share in this combined effort, Mastercard has collaborated with a Swedish fintech Doconomy, called Mastercard Carbon Calculator. This feature is being offered by Mastercard around the globe and can easily provide customized services to eco-conscious consumers who want to remain more informed and conscious about their spending. The good part is that it provides data and insights about carbon impacts and allows people to play their role in conserving the environment.
Commenting on this latest development, Mastercard’s Chief Digital Officer, Jorn Lambert said, “Companies, consumers, and communities must work together to make the significant changes needed to effectively address climate change. The Mastercard Carbon Calculator informs consumers about the carbon footprint of their purchases, so that they can make more mindful spending decisions and contribute to forest restoration. By embedding sustainability into the very fabric of our business, we can unlock the power of our network, reaching billions of consumers and partners, to create positive change for the environment. This builds on the creation last year of the Priceless Planet Coalition, which unites businesses and consumers to restore 100 million trees.”
Through the Carbon Calculator, the consumers can get a snapshot of the carbon emissions that are generated as a result of their purchases. An independently verified Åland Index calculates the carbon footprint and can be further developed to include easy-to-comprehend figures, for example, the count of trees that may be required to absorb a particular amount of carbon dioxide. In addition to that, the app also offers tips related to sustainable living. Consumers can also contribute to forest restoration projects like the Priceless Planet Coalition by using banks’ loyalty rewards programs or giving donations. The Carbon Calculator tool can be easily integrated into the mobile apps using new APIs made available on Mastercard Developers.