Wednesday , May 29 2024

Standard Chartered Vietnam launches carbon-neutral cards



Standard Chartered Bank launched the first carbon-neutral credit and debit cards in Việt Nam. — Photo courtesy of the bank

HÀ NỘI — Standard Chartered Bank has become the first bank to launch carbon-neutral credit and debit cards in Việt Nam. All new cards issued in Việt Nam will now be part of the carbon-neutral programme developed with Thales, the bank’s card manufacturing partner.

The cards will carry a carbon-neutral certification logo, in accordance with the Carbon Neutral Protocol, demonstrating their green credentials.

With the carbon-neutral programme, there is no need for cardholders to proactively opt-in or sign-up to play their part to reduce carbon emission. The programme, built on Standard Chartered’s commitment to sustainable and responsible banking, is one of the many ways the bank is reducing its carbon footprint.

“One of our key focus is on Sustainability, in which we aspire to become a leader and driver of sustainable development. We aim to help emerging markets like Việt Nam reduce carbon emissions as fast as possible, without slowing development, putting the world on a sustainable path to net-zero by 2050,” said Michele Wee, CEO, Standard Chartered Bank Vietnam.

“The new card launch is a further step in our sustainability agenda, contributing to our stand to accelerate net zero. We are on a journey with many more sustainable products.”

Harmander Mahal, Head of Consumer, Private and Business Banking for Việt Nam and Asia Cluster Markets at Standard Chartered Bank, said: “We are committed to sustainable social and environmental development through our business, operations and communities and have consistently embedded sustainable practices into our business as well as promoting sustainability for our clients.”

“We hope our clients will enjoy the newly launched cards, which make it easier for them to adopt a greener lifestyle and make an impact on the environment.”

Standard Chartered Bank announced the global launch of the neutral carbon card in November 2021 following successful pilots with the Smart cards in Malaysia and Hong Kong, the first of their kind in Asia.

Taking into account the full life cycle of a card – from material extraction to end-of-life disposal – enrolling three million cards the bank issues annually across its markets into the carbon neutral programme will bring 450 tonnes CO2eq (carbon dioxide equivalent) savings per year, translating to approximately 15 million plastic bags. — VnExpress News

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