Germany-based Giesecke+Devrient (G+D) has partnered with Patch, a digital carbon credit marketplace, to provide bank customers with a payment solution. In a release, G+D said the partnership is an expansion of its ecosystem of eco-innovative partnerships that supports banks and Fintechs in their sustainability strategies.
G+D states that Patch offers an API-based solution that enables consumers to contribute to carbon removal projects across the world. Patch provides a network of carbon removal projects, from nature-based to human-engineered solutions, providing interested companies a path to boost customer confidence and track their own progress towards carbon neutrality.
“Banks are a mirror of society, and those banks that do not put sustainability at the top of their agenda within the next one or two years will become irrelevant,” stated Dr. Carsten Wengel, Head of Sales and Distribution for Cards and Digital Payment Business at G+D. “By including Patch to our Convego Beyond sustainability offering, we are strengthening our eco-system of environmental partners. Combining the resources of our bank clients, Patch and G+D, we are together empowering consumers to lessen their impact on a wider range of variables in the climate equation: by tracking their CO2 consumption, reducing their use of virgin plastics and now by offsetting their carbon footprint.”
Brennan Spellacy, CEO at Patch, said we need to embed the removal of carbon into all of our everyday transactions:
“We are excited about the partnership with G+D and working together to create new opportunities for banks and fintechs embarking on the path towards a climate-positive economy.”
