Scandinavia's Bank of Aland is to provide customers with a carbon footprint calculation for every payment transaction along with an invitation to offset these CO2 emissions.
The bank is working with Gemalto to issue new bio-degradable EMV cards to support the initiative, which is part of its commitment to an environmentally-friendly, Unesco-supported, education programme dubbed The Baltic Sea Project.
Gemalto's bio-sourced Optelio cards are manufactured from corn-based poly lactic acid material, a plastic substitute which is bio-degradable and non-toxic when incinerated. The bank has commissioned local design agency RBK Communiations to produce artwork for the front of the card reflecting the values of the Baltic Sea Project. Card account details and corporate logos have been moved to the back of the card.
The cards will be issued to all new customers and existing cardholders when their current cards expire. Customers will get monthly reports of their carbon footprint for each transaction, using data derived from an inhouse-derived 'Åland-index' to support the calculation, alongside an offer to offset these CO2 emissions.
“Gemalto was the world’s first supplier of a bio-sourced payment card and has a proven track record for the successful deployment of this ground-breaking product,” says Peter Wiklöf, CEO at Bank of Åland. “They are clearly committed to the values of The Baltic Sea Project, and our new partnership opens the door to further joint green initiatives.”