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Economy, Ecology & Environment
Mahesh

02/10/22 10:02 AM IST

Mastercard to launch ‘carbon calculator’ for Indian consumers

In News 
  • Global payments and technology company Mastercard is in talks with Indian banks to roll out its Carbon Calculator feature, which offers consumers an estimated carbon footprint for each of their purchases.
Carbon Calculator 
  • Carbon Calculator is a service that will be provided to banks. It is a personalized carbon footprint tracker that can tell consumers the cumulative effect of carbon footprint across various spending categories in a month.
  • It has already been launched in several countries, now it will be launched in India too.
  • Mastercard Carbon Calculator is developed with the collaboration of Swedish Fin-tech Doconomy and it is currently used in 25 countries.
  • The banking partners can also embed the tracking tool in their websites or mobile apps.The Mastercard Carbon Calculator will help consumers to become cause-driven.
  • Mastercard has started the Priceless Planet Coalition, which is a campaign to restore 100 million trees.
  • The Cabron Calculator will let the consumers see the carbon effect of their purchase.
  • The Mastercard CIO said that the broadening definition of money, intelligent experience, and ESG-conscious consumer behavior are the three big factors that will influence the next economy.
Source- Business line 

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