Rabo launches climate conscious credit card

Rabo launches climate conscious credit card

Dutch banking group Rabobank is introducing a new 'climate credit card' that contributes funds to environmentally-friendly projects every time the card is used to pay for energy-hungry goods and services.

Instead of investing a straight percentage of card proceeds into environmental funds, the new card will look at the type of purchase - such as consumer goods, air travel or petrol - and pay a proportionate sum into projects run by the World Wide Fund for Nature (WWF).

Contributions are based on the impact of purchases on greenhouse gases. So buying petrol would result in a higher contribution to an environmentally-friendly project than paying for goods in a supermarket.

Johan van de Gronden, head of the WWF in the Netherlands, told Reuters reporters that the charity wanted to come up with a way to align consumer behaviours with a compensation mechanism.

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