We remove the carbon our cards produce from the atmosphere
That includes emissions associated with our debit cards and wider payment processing.
We are committed to becoming net zero by 2030
This means we either remove or offset the emissions we generate as a business. As a technology company, 98.3% of our carbon footprint comes from our supply chain (our Scope 3 emissions). So to achieve our goal, we have to take responsibility for the emissions our supply chain generates too.
Right now, a significant chunk of our carbon footprint comes from processing payments (around 5%)
These are all the emissions associated with issuing your debit card, and letting you spend with it. So when you tap to pay for a tube journey, or order a new top online, all of the energy needed to process that transaction generates carbon emissions.
We purchase carbon removals to cover the emissions from our debit cards and the spending on them.
We’re purchasing high quality carbon removals such as reforestation removals. The projects our removals fund have been carefully assessed by Watershed, to ensure that it is of the highest quality and impact.
This doesn’t cover the emissions associated with what our customers are buying. But it covers the carbon emissions associated with making that payment.
