New Credit Card Reduces Impact on Climate Change
This entry was posted on 11/30/2007 12:45 PM and is filed under Credit Card.
Chicago, Nov. 29 /PRNewswire/ — Bank of America today announced
at theGood and Green Marketing Conference in Chicago that it has teamed
with Brighter Planet(TM) to offer a credit card that helps customers
reduce their contribution to climate change and invest in the
development of clean,renewable energy projects.
The Brighter Planet(TM) Visa(R) credit card enables customers to
earn oneEarthSmart(TM) point for every $1 spent in purchases. The
points earned are used to help build community-based renewable energy
projects across the United States.
"Brighter Planet is working with Bank of America to help Americans
make a direct impact on climate change," said Patti Prairie, chief
executive officer of Brighter Planet. "With a majority of Americans
wanting to do something about the environment, the Brighter Planet Visa
credit card offers a practical and effective way for individuals to take
personal steps to build a clean energy future. Consumers should conserve
what they can, then use the card to offset what they cannot."
Points earned with the Brighter Planet Visa credit card are
automatically redeemed each month to support renewable energy projects.
Each 1,000 points earned is projected to offset one ton of carbon
dioxide. Eliminating one ton of carbon dioxide has the same global
warming impact as taking an average car off the road for two months. The
rewards program features are:
- Spend $1 in retail purchases and earn one EarthSmart(TM) point (1,000 points equal one estimated ton of carbon offsets).
- For every two base points earned through December 2008, Bank of America will make a matching contribution of one additional point.
- Earn 1,000 bonus points after the first card use, which should more than offset the impact of the creation and delivery of the new card.
- Earn an additional 1,000 bonus points after signing up for paperless credit card statements.
- Through Brighter Planet's website www.brighterplanet.com, cardholders can calculate their carbon footprint, learn ways to reduce their own environmental impact, participate in an online community to get more involved in the green movement, monitor clean energy projects funded from their card use and track their footprint reduction progress from the use of the card.
"The Brighter Planet Visa credit card — in combination with other
steps consumers take to change their day-to-day energy consumption —
provides consumers with an added opportunity to help counteract global
climate change and invest in the environment," said Michael Rhodes, Bank
of America senior vice president of Business Development for North
America Card Services. "Our partnership with Brighter Planet is the
latest example of Bank of America's commitment to protecting the
environment and growing environmentally sustainable business practices
across the globe."
Brighter Planet's partnership with premium carbon offset
provider Native Energy will ensure that only projects resulting in
emission reductions beyond business-as-usual activities and that have
community social value will be included in their program. In addition,
all projects will be reviewed by brighter Planet's highly regarded
Project Selection Committee run by leading environmentalists. Initial
undertakings include wind and methane capture projects with new projects
and technologies to be added over time.
"This credit card doesn't only buy goods — it buys the world time
in the fight against global warming," said Mindy S. Lubber, president of
Ceres, a leading U.S. coalition of investors and environment groups who
serves on the brighter Planet Project Selection Committee. "By paying
for projects that reduce greenhouse gases, the credit card educates
consumers and allows them too something more with their rewards than
purchasing airline tickets and hotel stays."
Consumers can learn more about or apply for the Brighter Planet
Visa credit card by calling 1.800.511.1472 or visiting
www.newcardonline.com and using priority code FABZDN. The card will be
available at Bank of America banking centers in early 2008.
In addition to the Brighter Planet Visa credit card, Bank of
America and brighter Planet are offering the ability for millions of
current Bank of America(R) WorldPoints(R) cardholders to redeem points
to offset greenhouse gas emissions. The two companies are also planning
to launch new deposits products in early 2008 that will help Brighter
Planet further support the construction of renewable energy projects.
The Brighter Planet Visa credit card is part of Bank of America's
$20 billion commitment announced in March of this year to support the
growth of environmentally sustainable business activity to address
global climate change. This 10-year initiative encourages development of
environmentally sustainable business practices through lending,
investing, philanthropy and the creation of new products and services.
