Fairfield, Conn.-headquartered General Electric Co. (GE) has introduced the GE Money Earth Rewards Platinum MasterCard, the first U.S. credit card designed to reduce cardholders' carbon emissions through greenhouse gas (GHG) emissions offsets.
The credit card allows users to reduce their carbon footprints by automatically contributing up to 1% of their card purchases to buy greenhouse gas emissions offsets.
All card rewards designated for GHG reduction projects will be accrued over the year, GE explains. Each Earth Day (April 22), those rewards will be used to purchase and retire GHG credits through GE AES Greenhouse Gas Services, a joint venture between GE Energy Financial Services and The AES Corp., which will identify and invest in projects that reduce GHG emissions.
In addition, GE AES Greenhouse Gas Services recently unveiled a comprehensive standard for the creation and sale of its GHG credits in the U.S. The standard will ensure that credits produced by the joint venture are scientifically verified and provide a positive, measurable environmental benefit, according to the company.