C6 Bank launches carbon statement to raise awareness of CO² emissions

C6 Bank has launched an unprecedented tool in the Brazilian banking market that calculates the carbon footprint of each customer (individuals and companies) based on day-to-day expenses made with debit and credit cards, in addition to transfers and Pix made to legal persons. The solution is integrated into the bank’s application, is free and automatic.

Just as customers consult their current account statement, it is now possible for customers to check a carbon statement which indicates the amount of greenhouse gases emitted: from lunch at a restaurant to a plane trip. The tool also allows customers to offset their footprint with carbon credits directly through the app. The proceeds from the credit sale are allocated to forest conservation projects in the Amazon without generating any profit for C6 Bank.

“Our goal is to give visibility to the carbon footprint and make people see the impact of individual consumption on global warming and life on the planet”, explains Alexandra Pain, Head of Impact at C6 Bank. “Although the customer can buy carbon credits in the app, our focus is on raising awareness and encouraging emissions reduction.”

One of the differentiators of the tool developed by C6 Bank is that the customer does not need to input the data into the calculator to discover their carbon footprint. The calculation is made automatically, based on the expenses recorded in the bank’s application – which makes the experience more fluid.

“This makes the emission estimate consider even small expenses, such as a cup of coffee at the bakery, which are usually left out when you have to inform each activity in other calculators”, says Alexandra.

To create the Carbon Statement, the C6 Bank team worked in a multidisciplinary way for more than six months, integrating a new core banking platform from Thought Machine into the application, which converts all transactions into carbon emissions. The bank also entered into partnerships with companies that already operate in this area. The startup Deep ESG provided the technology for calculating the carbon footprint. The Ambipar Group, through Ambify and Biofílica, provided the solution for selling the carbon credit directly through the app.

Carbon credits come from projects that reduce greenhouse gas emissions. Each carbon credit unit corresponds to a ton of carbon dioxide equivalent (CO2e) that is no longer emitted. The technology adopted by C6 Bank makes it possible to split the credit, democratising access for all customers, as it is possible to buy the equivalent of 1 kg of carbon dioxide. According to a recent study by the Climate Observatory, the average CO² emission by Brazilians is 20kg per day.

In the C6 Bank tool, carbon credits come from a project that contributes to keeping the forest standing in the Amazon. The project is certified by Verra, the most recognised international carbon certifier. After offsetting emissions, the customer receives a certificate and can follow up.

Collective challenge

The Carbon Statement is another C6 Bank initiative on the sustainability journey that began with the bank’s foundation in 2019. “We understand that keeping the planet alive is a collective challenge involving companies, society and public authorities. We will continue our journey to advance in sustainability and, at the same time, we want to engage employees and customers”, says Alexandra.

At the beginning of this year, the institution joined the Movimento Ambição Net Zero, an initiative of the UN Global Compact in Brazil that aims to reduce two gigatons of CO² in accumulated emissions by 2030. set goals for reducing greenhouse gas emissions in line with the criteria of the Science Based Targets initiative (SBTi), in addition to the annual publication of an inventory of these emissions.

Since 2020, C6 Bank has also carried out an inventory of greenhouse gas emissions and adopted good practices to reduce them. For two consecutive years, the bank offset carbon emissions resulting from its activity. In addition, it was responsible for planting 25,000 trees through Coalizão Planeta Priceless, a partnership with Mastercard, whose collective objective is to plant 100 million trees worldwide in five years. It became the first digital bank to associate with the Instituto Ethos, a non-profit organisation whose mission is to mobilise, raise awareness and support companies in responsible business management.