Australia’s Commonwealth Bank (CBA) has added a new feature to its online banking software that tells customers their carbon footprint based on monthly spending. The move follows a partnership between the bank and CoGo, a company that provides carbon footprint management solutions.
According to the bank, the national average of carbon emitted is 1,280 kilograms, while a sustainable figure is 200. The bank has provided the option to “pay a fee” to offset the carbon footprint.
CBA said it does not share data with CoGo. It added that eventually the data will be broken down into each individual transaction.
The bank calculates a person’s carbon footprint based on the transactions using their credit or debit cards.