By Aisling Finn on Monday 28 September 2020
Customers will be able to see their carbon footprint in real-time as they spend.
NatWest has revealed it’s launching an eight-week long beta test of a carbon emission calculator.
The calculator, which customers are already being invited to trial, will show customers how much carbon they produce as they spend and show them their carbon footprint in real-time.
NatWest is launching the pilot in partnership with ethical technology firm CoGo which collects consumer data to provide customers insights into how sustainable their purchases and investments are.
NatWest is following in the footsteps of several fintechs who have led the way towards sustainable spending and investments, for instance, Moneybox offers its customers the option to only invest in sustainable endeavours and the fintech became carbon neutral earlier this year.
Dutch challenger bank bunq is another pioneer of sustainability. The digital bank plants trees for its customers, having planted over one million to date, and gives users the option to invest in sustainable funds, with 72 per cent choosing to do so.
Similarly, kid-friendly bank GoHenry introduced a biodegradable bank card for eco-conscious kids in May of this year.