Carbon Offset Credit Card

Looking to meet the challenge of global warming and encouraging consumers to do the same. With a carbon offset credit card consumers usually earn something like one carbon offset point or carbon credit for every $1.00 of your net retail spend. The credit card company will automatically redeem the carbon offset points at a some value of for every carbon offset point and use the equivalent funds to acquire carbon offsets on your behalf. The issuers of carbon credit cars believe offsetting is a positive action for the environment which is why most of them are proud to have a card of this type as part of their offerings. It's the eco-friendly way to pay.

Explanation of Terminology

Q: What is a Carbon Offset?
A: A “carbon offset” is a greenhouse gas emission reduction credit or certificate that represents a reduction in carbon dioxide or other greenhouse gases in the atmosphere achieved by a company or organization through projects such as planting trees, building windmills, renewable energy, energy conservation and landfill methane projects.

Q: What does it mean to go Carbon Neutral?
A: Activities that add polluting emissions to the atmosphere can be mitigated or subtracted by the purchase of carbon offsets. Carbon offsets are simply credits for emission reductions achieved by investing in energy efficient projects, such as wind farms or solar installations. By contributing to the purchase of these credits you can offset or minimize climate change.

Q: What is CO2e?
A: CO2e is an abbreviation of 'carbon dioxide equivalent' and is the internationally recognized measure of greenhouse gas emissions using a common denominator of carbon dioxide. Many calculators indicate how many tonnes of carbon dioxide a certain activity produces – tCO2e.

Q: What is Carbon Footprint?
A: “Carbon Footprint” is a measure of the impact human activities have on the environment as part of daily life – expressed in annual tCO2e.

Q: How does Canada rate as a consumer of energy?
A: Canada is one of the greatest consumers of energy per capita, burning the equivalent of roughly 7,700 litres of oil per person each year.

About the Programs associated with Carbon Credit Cards

Q: Why should I Apply for a Carbon Credit Card?
A: It is an effective and simple way to support the environment. Every time you use your card, your bank will contribute a portion of your net retail purchases to purchase carbon offsets.

Q: How will I know how many carbon offset points have been accumulated through use of my credit  card?
A: The total number of carbon offset points accumulated by use of your card will usually be stated on each of your monthly statements.

Q: Is there a limit to the number of carbon offset points that can be accumulated through use of my card?
A: No. carbon offset points usually depending on your credit card company accumulate throughout the year based on your net retail purchases and can be carried forward from one year to the next.

Q: Who is acquiring the carbon offsets and from where?
A: Some banks have joined the Chicago Climate Exchange (CCX). The CCX is an all voluntary exchange with more than 100 members who are contractually committed to reducing their carbon impact. As the carbon trading market is generally unregulated,  there are usually no representations on its results to actually offset or reduce carbon emissions. Acquisition of carbon credits are applied to Canadian initiatives trading on the CCX.  As carbon emissions are distributed across the world, notwithstanding where the credits are applied, the positive effect on the environment will be the same.

Q: What standards do the credit card companies use for selecting projects?
A: The CCX offsets protocols employ rigorous criterion for project approval. We additionally use the guidance of the two leading organizations in North America, the EPA’s Climate Leaders Program and the California Climate Action Registry (CCAR) to ensure broad-based acceptance. Carbon offsets will be purchased from high quality projects that support the reduction of greenhouse gases and which have been verified by CCX accredited independent companies.

How to help the environment

Q: What can I do to help the environment?
A: Here are a few simple things you can do to make a difference:

• Recycle more. Many items can, through the process of recycling, be transformed into other useful products.
• Drive less – walk, cycle, car pool or use public transit more often.
• Replace your standard incandescent light bulbs with qualified compact fluorescent bulbs, which use 2/3 less energy and last up to 10 times longer.
• Plant a tree – a single tree will absorb one tonne of carbon dioxide over its lifetime.
• Avoid buying products that use a lot of packaging.
• When buying new electronics (TVs, computers) and appliances (refrigerators, dishwashers, washers and dryers) for your home, look for products with the Energy Star label.
• Check your air conditioning and furnace filters every month, and replace when needed. Dirty filters restrict air flow through your home’s heating and cooling systems, driving up your energy bill.