Aussie Bank Begins Linking Customer Transactions to Carbon Footprint

“The green social credit score accelerates. In another foretaste of potential future ‘carbon allowance’ limits, a major bank in Australia has introduced a new feature that links purchases to a customer’s carbon footprint and warns them when they are going over the average. Australia’s Commonwealth Bank (CBA) has partnered with Cogo, a “carbon management solutions” company, to launch the new feature, which is part of CBA’s online banking platform. The bank gives the customer the option to “pay a fee” to offset their carbon footprint, with the average listed as 1,280 kilograms, a long way from the ‘sustainable’ figure of 200 kilograms.”

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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