Visa Europe has entered a new partnership agreement with RePay International to launch what it describes a ‘green’ Visa card to business cardholders in industry and Government across Europe. This follows the earlier launch of the world’s first carbon neutral credit card – the Visa GreenCard – in the Netherlands, which was introduced into the consumer market in 2004. This new agreement means that Visa’s 4,600 member banks across Europe can issue business Visa cards that offset carbon emissions as part of RePay’s ClimaCount compensation programme. Every time a payment is made with the Visa card, the carbon emission of the product or service is established and the emission is offset through a project such as forestry or renewable energy. ClimaCount is supported by NGO Conservation International and the Dutch Applied Science institute TNO. All business cardholders are able to access the website to check their purchases, their carbon emissions per transaction and the way that the emission will be offset.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
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