Barclaycard has announced that it is developing a credit card that will help consumers reduce global carbon emissions and offers cardholder incentives to be more environmentally friendly.
The new card is being developed as Barclaycard responds to rising customer demand for products that make it easier to "be green" and support environmental causes.
Whilst final product details are being completed - the card is due to be launched in the summer - it will help tackle a number of opportunities identified during the research process development. Studies found that UK consumers are very interested in products that will not only help them do their part in battling global warming, but make it simpler to understand how to make a personal difference, and also provide information on how green projects, many of them global, make a difference in tackling climate change. Features such as these will have broad appeal, and in particular assist consumers (nearly a third of those surveyed) who say they are either "not very confident" or "totally lacking in confidence" when it comes to knowing what they can do to help the environment.
Announcing the plans for the new card, Elizabeth Chambers, Barclaycard Chief Marketing Officer said: "We have a history of providing customers with innovative and flexible products that meet their changing needs. Our research shows there is demand for products that make it easier to do your bit for the environment; we are proud and excited to be the first leading UK bank to offer a card which will help customers reduce carbon emissions, donate to green causes, and give incentives to buy green products. We think this product will have strong appeal to customers around the world and plan to roll it out globally over time."
The product development research, which questioned more than 1200 people across the UK, also found that whilst 1 in 8 believe climate change is an important issue, almost three-quarters (74 %) believe living a green lifestyle is more expensive and incentives to buy 'green' products and services would help them to live a greener lifestyle.
Initiatives identified by respondents that would help or encourage thehem to live green lifestyles included:
- Cheaper environmentally friendly products - 82%
- Incentives to buy environmentally friendly products - 61%
- Greater accessibility to environmentally friendly products - 59%