Digital Banking: Brazil’s C6 Bank Introduces New Sustainability Initiative

In yet another initiative with the aim of taking care of our planet, C6 Bank launched the Carbon Extract, being the “first” bank in Brazil to launch a tool of this type in its application.

In this new bank tool, it is possible “to calculate the estimated carbon footprint for each transaction carried out on the card (debit or credit) and Pix made for legal entities.”

The best part: all follow-up “can be done in the same app that customers already have installed on their cell phones.”

To encourage Brazilians “to adopt more sustainable attitudes, C6 Bank made the Carbon Extract available in its application.”

The Carbon Extract is a tool “developed by C6 Bank to calculate the estimated carbon footprint for each card transaction (debit and credit) and Pix made for legal entities.”

Available in the app, it allows you “to analyze the impact of your consumption on the environment.”

All customers (individuals and companies) “have access to the Carbon Statement on the main screen.” But, if you prefer, it will be possible “to disable the visualization of the product in ‘Settings’.”

Finally, this functionality “offers the possibility of offsetting the carbon footprint by purchasing forest preservation credits, which can be done via debit (account balance) or C6 Átomos points.” .

As explained in the update, compensation in the Carbon Extract is “made by purchasing carbon credits. In this way, it is possible to finance initiatives that absorb or remove carbon from the atmosphere, also neutralizing its footprint.”

It is worth emphasizing “that normally a carbon credit is equivalent to one ton. However, here at C6 Bank there is the possibility of splitting it.”

In this way, the customer “can buy from 1 kg of carbon equivalent.” In addition, they can also choose “to make full or partial compensation.”

This initiative “generates a certificate, which will always be available in the app’s Carbon Extract menu.” Following the compensation, you can “follow the issue statement to understand how much was deducted.”

It is worth mentioning “that the balance of the Carbon Extract is reset monthly. In other words, the idea is for each person to track their issue as a card invoice.” Finally, historic and old compensations will be “available in the menu to be consulted whenever you want.”

As noted in the announcement, carbon footprint is “the Portuguese term for carbon footprint and refers to the amount of carbon emitted by people, companies or activities.”

Its function is “to analyze the consequences of CO2 emissions into the atmosphere, in addition to serving as a thermometer for the need to implement sustainable measures.”

The carbon credit is “the name given to the ton of carbon that is no longer emitted into the atmosphere or that was absorbed by the reforestation process.” That is, when buying credits you will “help finance sustainable initiatives.”

Here are some ways to reduce your carbon footprint below:

  • Adopt more sustainable attitudes in everyday life, such as using water consciously and saving energy;
  • Bet on conscious consumption , that is, choose products and services with a smaller carbon footprint;
  • Move in a sustainable way, using ecologically responsible transport, such as buses, trains, subways and bicycles;
  • Reduce the amount of waste, reuse whenever possible and recycle.

As revealed by the Fintech firm, C6 Bank claims it “knows all its emissions, works to reduce and offset them.” Since 2020, it has “been purchasing credit generated by socio-environmental projects in the Amazon rainforest.”

To this end, they always “carry out an inventory of the emissions of all the companies in the group. It includes electricity consumption, employee transportation, taxi rides and plane trips.”

In addition, the bank is “part of the Movimento Ambição Net Zero, a UN Global Compact initiative in Brazil, with the objective of reducing two gigatons of CO2 in accumulated emissions by 2030. greenhouse gases in line with the criteria of the Science Based Targets (SBTi) initiative, in addition to publishing annual inventories.”

It is worth remembering “that the headquarters of C6 Bank in São Paulo has the Leadership in Energy and Environmental Design (Leed) certification in the Gold category, which recognizes sustainable buildings in the world.”

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