Standard Chartered Bank has announced the global launch of its carbon-neutral credit and debit cards. From November 2021, all new credit and debit cards ordered across its markets will be part of the carbon-neutral programme, developed in partnership with Thales, the bank’s card manufacturing partner.

The global roll-out follows the completion of two successful pilot schemes – the first of their kind in Asia – in Malaysia in November 2020 and Hong Kong in January 2021, as part of the bank’s smart credit card launch. In the last month, carbon neutral credit cards were launched in Bangladesh and Singapore.

With the carbon-neutral programme, there is no need for card holders to proactively opt in or sign-up to play their part to reduce carbon emission. 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 into the carbon-neutral programme will bring 450 tonnes carbon-dioxide-equivalent (CO2eq) savings per year, translating to approximately 15 million plastic bags. All cards will carry a carbon-neutral certification logo, in accordance with the Carbon Neutral Protocol, demonstrating their green credentials.

“Standard Chartered is committed to sustainable social and environmental development through our business, operations and communities,” says Vishu Ramachandran, the bank's global head of personal and business banking. “The global launch of our carbon-neutral credit and debit card programme is one of many ways we introduce sustainable practices into our business. This initiative will also enable clients to participate in our journey towards reducing our global carbon footprint.”

The partnership with Thales will enable Standard Chartered to contribute directly to six carbon offset programmes across Indonesia, Brazil, East Africa, Sub-Saharan Africa, the US, and the UK,

Earlier this year, Standard Chartered partnered with Doconomy, a Sweden-based impact tech company, to introduce a digital tool that helps clients track, measure and manage the impact on carbon emissions and freshwater consumption based on goods and services they purchased, as identified through their credit and debit card transactions.