/Sustainable

News and resources on ESGtech and Sustainable Finance initiatives and best practices.
Bunq plants trees while customers spend on new Green Card

Bunq plants trees while customers spend on new Green Card

Dutch mobile bank bunq is launching a limited-edition Green Card which helps users to offset their carbon footprint as they spend.

For €99 a year, customers can make "a real difference with zero effort", as bunq plants a tree for every $100 spent. 

The reforestation effort is being made in partnership with Eden Reforestation Projects, a non-profit organisation which has planted over 265 million trees since its creation in 2005.

Eden Reforestation Projects will receive the funding from bunq on a monthly basis to plant trees and provide jobs and security to local workers in Madagascar.

The African island country has been chosen due to its severe reforestation needs and the fact that its native Mangroves capture carbon at a rate between two and four times greater than tropical forests.

Madagascar also has a unique ecosystem, with 75% of its animal species not found anywhere else in the world.

Each tree planted captures 308kg of carbon over a 25-year growth-life. It is claimed by bunq that users who spend $1000 a month can start offsetting their yearly carbon footprint in five years.

There is the added option to double the impact by becoming a bunq premium customer where two trees are planted for every $100 spent rather than one.

Customers of any bank in Europe can use the Green Card for making purchases and withdrawing cash at the ATM.

Furthermore, the card is made of 50% stainless steel rather than the less environmentally-sound plastic normally used to make debit and credit cards.

It also expires after six years as opposed to the three or four-year lifespan the majority of cards have.

While Bunq is planting trees, other effort to address consumer concerns about the climate crisis centrre around the use of recycling, with CPI Card Group recently introducing a payments card  with a core made from recovered ocean-bound plastic, and iZettle creating an mPOS device made from fishing ropes and nets collected from the North and Baltic seas

Comments: (0)

Visit apc.com

Trending Stories