Barclaycard, a business unit within the Global Retail and Commercial Banking cluster of the Barclays global financial services organization announced today that they have launched the “UK’s first credit card aimed at helping to tackle climate change and promoting greener spending.”
Barclaycard Breathe will donate half of all profits to carbon reduction projects around the world and offer cardholders lower rates and discounts to promote greener spending. Barclays has guaranteed a £1 million donation towards environmental projects in its first year.
Research carried out by Barclaycard found that 66% of the nation’s shoppers feel guilty about their impact on the planet when they shop and that 82% would live a greener lifestyle if environmentally friendly products were cheaper.
To that end Barclaycard has teamed up with leading British retailers to offer consumers a series of discounts including:
- Up to £50 off British Gas loft and cavity wall insulation
- £25 off energy bills with Ecotricity
- 10% off electrical products from Eco-electricals
- Discounts of up to 25% off Center Parcs holidays in the UK
- 10% of all bike purchases at Halfords
Donations made by Barclaycard Breathe will support a number of environmental projects including:
Solar4Schools — makes solar energy accessible for schools with the supply and installation of solar panels
Renewable Energy & Forest Preservation — A Brazilian project to promote using sustainable wood sources for fuel, replacing energy from diesel generators. The project will reduce carbon emissions by 145,000 tons per year, the equivalent of emissions from a town of 60,000 people
Barclaycard is practicing what they preach to some extent, by taking the following green initiatives:
- No Paper statements — online statements only
- Online marketing literature
- Recycled paper used when necessary
- Cards made from new material PETg – rather than the PVC of current cards
Barclays has been carbon neutral since March of 2007.