GE Money eco MasterCard

The GE Money eco MasterCard was the first credit card in the Australian market dedicated to a rewards program that provides cardholders with an automatic method to purchase greenhouse gas credits. One percent of every purchase (up to $50,000 each year) is set aside each month and will be used to buy greenhouse gas credits on Earth Day.

The Environmental Challenge

Environmental issues are a hot topic in Australia. At the Australia 2020 Summit held in April 2008, nearly 20 percent of respondents reported the environment was the “most important problem facing the country.”

As such, more and more Australians are looking for ways to reduce their personal impact on the environment. While methods such as recycling and water conservation are valuable, many people are looking for additional ways to make a positive change. For those motivated by their concern for the environment, understanding how greenhouse gas credits work and making sure credit sources are reliable can be a challenge.

GE’s Innovative Solution

With the eco MasterCard, GE Money offers a convenient way for cardholders to contribute to projects that offset greenhouse gas emissions just by making everyday purchases on their card.

The eco MasterCard purchases credits from Origin’s Carbon Reduction Scheme, one of Australia’s leading energy companies with over 300,000 Green Energy customers. Cardholders can be certain that all of their greenhouse gas emissions reducing projects meet published and verified standards.

Environmental Impact

Cardholder contributions are used to help fund projects such as reforestation, energy efficiency, and other environmental initiatives.

For example, by paying a mobile phone bill of $55 per month with the GE Money eco MasterCard, a cardholder can earn enough greenhouse gas credits to offset the annual emissions of a large-screen TV if watched for six hours per day. By spending $210 on the eco MasterCard, a cardholder can earn greenhouse gas credits equal to the emissions of about 500 kms of driving by an average car on Australian roads.