G+D and Patch partner to lead digital payments towards climate action
Giesecke+Devrient (G+D) announce its partnership with Patch, a leading carbon credit digital marketplace, to provide bank customers with a seamless payment solution, that actively helps them manage and neutralise their carbon footprint. G+D is thus further expanding its ecosystem of eco-innovative partnerships that supports banks and fintechs in their corporate sustainability strategies and empowers consumers to adopt a more eco-friendly lifestyle.
Consumers are increasingly weighing up their impact on the environment and choosing businesses that reflect their values. The strategic partnership with Patch is the next stage of G+D’s offering, enabling banks to take more responsibility for protecting the planet and to cater to the growing eco-conscious consumer trend. Patch offers an API-based solution that seamlessly enables consumers to contribute to carbon removal projects across the world. Even the most eco-conscious businesses and consumers may not be able to fully avoid leaving a carbon footprint due to their daily transportation, the packaging and shipping of goods bought online, their digital activity or their payments. By building a portfolio of carbon-removal projects that rely on various green technologies, consumers have the choice and opportunity to offset these unavoidable emissions.
Patch provides a broad network of trusted carbon removal projects, from nature-based to human-engineered solutions, all of which meet quality standards of third-party verifiers. In this way, companies can strengthen customer confidence and track their own progress towards carbon-neutrality.
“Banks are a mirror of society, and those banks that do not put sustainability at the top of their agenda within the next one or two years will become irrelevant,” states Dr. Carsten Wengel, Head of Sales and Distribution for Cards and Digital Payment Business at G+D. “By including Patch to our Convego Beyond sustainability offering, we are strengthening our eco-system of environmental partners. Combining the resources of our bank clients, Patch and G+D, we are together empowering consumers to lessen their impact on a wider range of variables in the climate equation: by tracking their CO2 consumption, reducing their use of virgin plastics and now by offsetting their carbon footprint.”
“To reach our global climate goals and get to gigatonne scale carbon removal, we have to embed removal into all of our everyday transactions,” emphasises Brennan Spellacy, CEO at Patch. “We are excited about the partnership with G+D and working together to create new opportunities for banks and fintechs embarking on the path towards a climate-positive economy.”
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