December 1, 2008
Monday
     

Companies Offer New ‘Green’ Credit Cards: Will They Work For Environment? For Company Image?

Date: 02-07-2008
Type: news brief
Categories: Environment / Finance
Source: Wall Street Journal
Organization:
Wall Street Journal
Companies are rolling out new credit cards designed to cash in on people's worries about global warming, according to this article in the Wall Street Journal.

Companies are rolling out "green" credit cards which allow users to channel a percentage of their spending toward efforts to cut greenhouse-gas emissions. General Electric Co.'s Earth Rewards MasterCard targets as much as 1% of total spending on the card toward emission-reduction projects. Bank of America Corp. followed with its own green card, Brighter Planet Visa, which matches every dollar spent with one point that can be accumulated and traded in for "carbon offsets." Storm Lake, Iowa, savings bank MetaBank, launched its GreenPay MasterCard, which also allows users to accumulate carbon offsets with each purchase.

 

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