“The new GE Money eco MasterCard is part of the broader GE ecomagination initiative, combining our environmental commitment with our expertise in infrastructure, consumer products, energy and finance. GE ecomagination products include desalination plants, cleaner and more efficient aircraft jet engines and diesel locomotives, wind turbines, cleaner coal and solar technology, and compact fluorescent light bulbs.”
The GE Money eco MasterCard is supported by a comprehensive website – www.gemoney.com.au – which features detailed information about the card, tips on reducing your carbon footprint, information about GE Money’s ecomagination commitment and carbon offset projects, and tips for living in a more environmentally sustainable manner.
On Earth Day (April 22) every year, rewards accrued throughout the year will be used to purchase and retire carbon offsets. Each customer’s rewards amount is equal to one per cent of net purchases, up to a maximum of $50,000 of purchases, made each year. Alternatively, customers can elect to receive half their rewards amount as a ‘cashback’ credit to their account and the rest going to purchase carbon offsets.
GE works with environmental strategy firm GreenOrder to provide independent, quantitative analysis of the ecomagination offerings, including the GE Money eco MasterCard. Carbon offsets are developed in accordance with a rigorous and comprehensive standard and are scientifically verified and provide measurable environmental benefit.
“Internationally, GE is committed to reducing 10 million metric tons of greenhouse gases each year by 2010 – equal to taking nearly 1.8 million cars off the road annually. GE Money eco MasterCard benefits will make a significant down payment toward meeting that goal,” said Mike Cutter.
"MasterCard is proud to be able to leverage our expertise as a facilitator of commerce across the globe and launch a credit card that helps the planet by helping to offset carbon emissions," said Leigh Clapham, executive vice president, Australasia, MasterCard Worldwide.
"Environmentally conscious Australians are looking for ways to reduce the impact they have on the environment and the GE Money eco MasterCard enables them to make a difference by simply using their credit card."