Mastercard launches carbon foot print calculator

first_imgUS will aim to cut carbon emissions by 52% by 2030, Biden says April 22, 2021 Mastercard is launching a calculator on Monday to help consumers understand how much their spending habits contribute to carbon emissions. The credit card company created the calculator to measure carbon footprints based on what consumers purchase. The tool will be available on the Mastercard app and website. The calculator focuses on specific categories of spending, rather than individual transactions, and gathers information using a methodology called Doconomy Åland Index. The index collects data from Trucost, an ESG analysis company that estimates businesses’ hidden costs of using unsustainable natural resources.That index calculates the impact of transactions by using an average footprint number for specific industries. For the carbon calculator, that information is correlated to Mastercard’s merchant category codes like ‘food and beverage’ or ‘apparel,’ CNN reported. Commentary: Homage to Greta Thunberg, the young Swedish activist May 6, 2021 The-CNN-Wire™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. AdvertisementThe tool also calculates the number of trees required to absorb the same amount of carbon dioxide released from purchases in specific categories. “While it’s not perfect, it actually gives a very good indication about what your overall spend is for the month,” Jorn Lambert, Mastercard’s chief digital officer, told CNN Business. He called the calculator “a middle ground between respecting privacy yet providing information to consumers.”Mastercard pledged in January to reach net zero emissions by 2050. The creation of the carbon calculator is the company’s latest attempt at focusing on sustainability. Earlier, Mastercard started working to reduce first-use plastic in payment card production. RELATEDTOPICScenter_img More than 100 Nobel Prize winners call for fossil fuel phase out ahead of Biden’s climate summit April 23, 2021 The world could reach climate tipping point in the next five years May 28, 2021 AdvertisementTags: Climate Changemastercard AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 commentsDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 commentslast_img

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