29 June 2017
download the report now

Barclaycard to launch carbon-conscious card and loan facility

26 November 2007  |  10175 views  |  0 globe

Barclaycard is to launch a linked credit card and loan product aimed at homeowners that want to reduce household carbon emissions and make their homes more energy efficient.

The bank's new Breathe Easy card and loan product is expected to be launched next summer.

Barclays says customers using the Breathe Easy card to buy home-efficiency products from selected retail partners would receive an initial discount on the purchase. They would then repay the cost of the purchase as a loan where their monthly repayments are expected to be in line with the savings they would make on their energy costs.

After the loan period, the customer will make savings for as long as they live in the house, says the bank.

Barclays chairman, Marcus Agius, says many homeowners are put off investing in greater home energy efficiency by the cost of doing so and the time it takes for their investment to pay them back in terms of lower energy bills.

"Barclaycard Breathe Easy addresses this challenge and is a good example of the role which financial institutions can play in helping consumers reduce household carbon emissions," says Agius.

Earlier this month the bank released its new 'carbon-offset' corporate charge card for business customers to offset emissions created by business air travel. The Barclaycard Business Sustain card follows the launch in April this year of Barclays' Breathe credit card which offers customers incentives - including discounts on home insulation, green energy and holidays in the UK - to encourage greener spending. The bank also donates 50% of Breathe profits to environmental projects dedicated to reducing carbon emissions around the world.

Other banks have also jumped on the "green" bandwagon. In October the UK's Co-operative Bank launched a new green credit card that offers a lower rate of interest on purchases made from selected ethical partners, while last year Dutch banking group Rabobank launched its 'climate credit card' which contributes funds to environmentally-friendly projects every time the card is used to pay for energy-consuming goods and services.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

MBNA Canada Bank launches 'carbon offset' credit card

MBNA Canada Bank launches 'carbon offset' credit card

14 November 2007  |  7285 views  |  0 comments
New Barclaycard aims to offset carbon emissions from air travel

New Barclaycard aims to offset carbon emissions from air travel

02 November 2007  |  5259 views  |  0 comments
Morgan Stanley opens carbon bank

Morgan Stanley opens carbon bank

14 August 2007  |  7875 views  |  0 comments
FSA warms to climate change risk

FSA warms to climate change risk

31 January 2007  |  11256 views  |  0 comments
Rabo launches climate conscious credit card

Rabo launches climate conscious credit card

22 September 2006  |  23303 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit wavestone-advisors.co.ukvisit www.finastra.comvisit www.www.fisglobal.com

Top topics

Most viewed Most shared
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
9397 views comments | 19 tweets | 38 linkedin
ABN Amro tests wearable tech for contactless paymentsABN Amro tests wearable tech for contactle...
9059 views comments | 10 tweets | 6 linkedin
hands typing furiouslyThe EU and blockchain: taking the lead?
7777 views 0 | 8 tweets | 8 linkedin
Mastercard eyes opportunities to profit from sharing economyMastercard eyes opportunities to profit fr...
7534 views comments | 6 tweets | 6 linkedin
Body blow for PayKey as Apple orders Westpac off its turfBody blow for PayKey as Apple orders Westp...
7168 views comments | 12 tweets | 14 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job