With the assistance of Cogo, a major Australian bank, the Commonwealth Bank of Australia (CBA), has begun linking customer transactions to carbon footprints.
The new feature, which is a part of CBA's online banking platform, was introduced thanks to a collaboration between Australia's Commonwealth Bank (CBA) and Cogo, a provider of "carbon management solutions."
The bank offers customers the opportunity to "pay a fee" to offset their carbon footprint, with the average reported as 1,280 kilograms, a far way from the 'sustainable' figure of 200 kilograms.
A customer's carbon footprint is computed, and a "equivalent" metric is then displayed to make them feel bad, such "8 trees being cut down."
“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,” CommBank Group executive Angus...