Commonwealth Bank Carbon Tracking Qorus Banking Innovation Awards 2022
Submitted by
Commonwealth Bank Australia
Australia’s leading provider of financial services including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and sharebroking products and services. We are a business with more than 800,000 shareholders and over 52,000 employees. We offer a full range of financial services to help all Australians build and...
AustraliaCategory
Social, Sustainable & Responsible BankingKeyword
ESG & Sustainability
Innovation presentation
With two-thirds of the world viewing climate change as a global emergency, more people are looking to have a more planet-friendly lifestyle. However, it can often be difficult to quantify your impact and know how to take measurable change. CommBank saw an opportunity to help customers understand their carbon footprint based on their personal transaction spend, and discover ways lead a lower carbon lifestyle. CommBank customers can now view their personalised carbon footprint within the CommBank app, following a pilot launched in October 2021. Developed in partnership with the sustainability FinTech Cogo, retail banking customers can view their monthly footprint in comparison to the national average, see emissions grouped in everyday spending categories such as Transportation or Shopping, and view actions to help manage their everyday footprint and spending. With greater awareness and action, CommBank is empowering customers towards small changes that can collectively have a significant impact.
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