Maybank Introduces Pioneering ‘Green’ Credit Card with Carbon Footprint Monitoring for Eco-Conscious Consumers

Maybank has launched the innovative myimpact credit card, the first of its kind in Asean, featuring a Carbon Footprint Calculator that tracks carbon emissions from transactions. This eco-friendly card appeals to environmentally conscious users and aligns with Maybank’s sustainability initiatives, offering benefits such as no fees and the ability to support reforestation projects to offset carbon footprints.

17 August 2023 – Malayan Banking Bhd (Maybank) has introduced a groundbreaking “green” credit card that offers users the ability to monitor their carbon footprint. This pioneering initiative, touted as the first in Asean, features the myimpact credit card, equipped with an integrated Carbon Footprint Calculator that approximates the carbon emissions associated with card transactions.

Maybank’s Group President and CEO, Datuk Khairussaleh Ramli, expressed enthusiasm for the myimpact credit card, highlighting its appeal to environmentally conscious consumers. He anticipates that as awareness of the card’s features grows, more customers will be drawn to its sustainable lifestyle benefits.

Designed from bio-sourced polylactic acid derived from non-edible corn, the myimpact card aligns with Maybank’s sustainability efforts. The card boasts a range of advantages including no compounding interest or management fees, as well as no late payment charges and a lifetime free waiver.

Maybank aims to onboard approximately 20,000 new card users by December, contributing to an estimated total spending of RM65 million over the next year. The myimpact credit card is part of Maybank’s broader strategy to promote sustainability awareness among customers, offering them a means to support environmental, social, and governance-related practices.

Data insights from the Carbon Footprint Calculator are accessible via the MAE app and Maybank2u web platforms. Cardholders can utilize these insights to participate in reforestation initiatives, offsetting their carbon footprints through projects such as the Greening Malaysia program, Keo Seima Wildlife Sanctuary REDD+ Project in Cambodia, Katinggan Conservation Project, and Rimba Raya Reserve Project in Indonesia.

Khairussaleh emphasized that Maybank credit cards remain the preferred choice for Malaysians, with the bank holding a market presence of over two million credit cards. This new offering aligns with Maybank’s commitment to sustainability, in line with their strategic goal of becoming a regional sustainability leader.

Since 2020, Maybank has facilitated nearly RM40 billion in sustainable finance, positively impacted close to 970,000 households across Asean, reduced 43.5% of its Scope 1 and 2 emissions, and achieved nearly 260,000 annual sustainability hours. – reference: NST

Author: Terry KS

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