GE Launches Carbon Offsetting Credit Card
by Lloyd Alter, Toronto on 07.25.07
GE is offering a new credit card where a dollar of carbon offsets will be purchased for every hundred dollars you spend, whether it's on compact fluorescents or gasoline.
While offsets are controversial, GE notes: “We are not sending a message that you can buy your way out of your environmental responsibility,” said Lorraine Bolsinger, vice president of GE Ecomagination. “We’re offering another tool in the kit for reducing carbon footprints.” The Myearthrewards website says it pretty clearly:
we can’t “shop away” global climate change. The most important thing for all of us — individuals as well as companies and other organizations — is to use energy more wisely by being as efficient as possible in everything we do. It is also important that, whenever possible, we purchase renewable energy through our utility providers and use alternative fuels in our vehicles. The final thing to do is to offset those remaining impacts that can’t be avoided.
According to the New York Times, every Earth Day it will use the money to buy offsets from projects that capture methane from landfills and coal mines. Later, it will add reforestation and alternative energy projects.
They have launched a website with tips and a basic carbon calculator at ::myearthrewards.
Disclosure Note: GE advertises on TreeHugger and the New York Times says:
G.E. is keeping everything about the card as green as possible. It is spurning paper applications, insisting that people apply online or by phone. Although by law it must send paper bills when asked, it is encouraging cardholders to receive and pay their bills online. It plans no direct mail and will advertise on search engines like Google and on environmental sites like treehugger.com. ::New York Times
See also Treehugger on How to Green your Carbon Offsets
Premier Accounts: 12.99% variable
Preferred Accounts: 15.99% variable
Choice Accounts: 18.99% variable
Cash Advance Rate: 23.24% variable
Default Rate: 32.24% variable
Ouch
Credit is the devil
Huge difference between "coal mine" methane recovery and coal bed or "seam" methane recovery. The latter two actions are destroying the wild lands of the US western states and ruining ranches.
We need to know the particulars of what and where.
Simple question: Is the card made out of PVC like nearly every other card?
Actually, the green one is nice. The wind turbine one is good too. I don't care about rates because I have a simple rule to pay the full bill.
It's not a bad idea if people understand that it's just a bit of help rather than a full environmental solution. It kind of depends on what the demographic of the average GE card holder will be.
Well, I like the idea. But what I like the most is the credit card's design. The design is really wise because it actually encourages customers to make 'greener' purchases.
I'm green with envy. GE is seeing green alright. The green that folds.