green credit card

8/14/2019 Green credit card

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EASTERN INSTITUTE FOR INTEGRATED

LEARNING IN MANAGEMENT

SUBJECT:- GREEN MANAGEMENT

TOPIC :- PROJECT ON GREEN CREDIT CARDS

SUBMITTED BY:-

GROUP NAME:- KAIZER

SECTION :- H1

FACULTY :- Lokaranjan Guha


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CERTIFICATE

This is to be certified that the KAIZER GROUP has undertaken the Green

Project titled GREEN CREDIT CARDS as a part of the curriculum Green

Management, and have duly completed it within the deadline given.

Dr.

Lokaranjan Guha

(Green Professor)


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CONTENTS

1) GROUP MEMBERS NAME LIST

2) ACKNOWLEDGEMENT

3) CERTIFICATE

4) CHAPTER 1: GREEN CREDIT CARDS2

5) CHAPTER 2: KISHAN CREDIT CARDS

6) CHAPTER 3:CASE REFERENCE

THE VIDARBHA FARMERS SUICIDE

7) CHAPTER 4:INTERVIEW & ANALYSIS

8) CHAPTER 5:CONCLUSION

9) BIBLIOGRAPHY


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INTRODUCTION

Resources are limited and human wants are unlimited, so it isimportant for the marketers to utilize the resources efficiently without wasteas well as to achieve the organization's objective. There is growing interestamong the consumers all over the world regarding protection ofenvironment. Worldwide evidence indicates people are concerned about theenvironment and are changing their behavior. As a result of this, greenmarketing has emerged which speaks for growing market for sustainableand socially responsible products and services.

Green marketing refers to the process of selling products and/or servicesbased on their environmental benefits. Such a product or service may be

environmentally friendly in itself or produced and/or packaged in anenvironmentally friendly way. The obvious assumption of green marketing isthat potential consumers will view a product or service's "greenness" as abenefit and base their buying decision accordingly. With all the concernabout ongoing climate change and the need to conserve our environment, itseems like even financial institutions are becoming more responsive towardsthe green aspirations of their customers and lots of them came up with agreen product called green credit cards.

Now lets us finds. What makes one card greener than the next? Does itcost more to have a green credit card? And will any these eco products truly

make a difference to the environment?
http://creditcardmatcher.com/http://creditcardmatcher.com/


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ENVIRONMENT & CREDIT CARDS

Now a days the mantra of the environmental movement is "reduce, reuse, recycle." One of

the best ways to help save the planet is for people to shop less, drive less, eat less meat, turndown the air conditioning, recycle, don't use plastic bags or drink bottled water -- even hangout laundry to dry.

With this objective, some of the banks and other companies have launched GREEN(CREDIT) CARDS.

RANGES OF GREEN CREDIT CARDS

General Electric

Introduced a new platinum credit card which, instead of offering cash back or frequent flyermiles, promises to help consumers fight global warming.

How the card will work: Consumers will be able to dedicate one percent of their purchasesto fund projects that offset carbon dioxide emissions. (They can also opt to get 1/2 of onepercent cash back, in which case the other 1/2 of one percent will go to carbon offsets.) GEwill then pool those monies and once a year -- on Earth Day, natch -- invest them in verified,transparent carbon offset projects.

For instance, a consumer who charges $750 a month, or $9,000 a year, would offset 10 tonsof emissions -- the annual carbon footprint of a typical individual, according to GE's Gentile.

There's no end to what these offsets could do. They could be used to capture methane gasfrom landfills, to plant trees, to finance renewable energy projects or to pay for energyefficiency -- all of which reduce greenhouse gas emissions.

HSBC Green Credit Card

The HSBC Green Credit Card claims seriously green credentials. The card itself is madefrom environmentally-friendly materials, accounts are managed online so that paperstatements are cut down and 0.1% of purchases made using the card will go towards fundinglocal environmental projects. In Hong Kong funds are being used to create green roofs forschools in one of the most densely populated cities in the world. Initiated by the HongkongBank Foundation in collaboration with The University of Hong Kong, the
http://www.hsbc.com.hk/1/2/cr/environment/projects/green_credit_cardhttp://www.hsbc.com.hk/1/2/cr/environment/projects/green_credit_card


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HK$5 million Programme will create green outdoor classrooms for teachers and studentsin selected schools in Hong Kong.

Community and environmental benefits

Increase green space in schools which often lack ground-level open space orgardens.

Reduce school building temperatures and combat the urban heat island effect(ie the phenomenon of urban temperatures being higher than temperatures in thesurrounding rural areas) which should reduce air conditioning use.

Improve air quality in the city. The lawn surfaces can help filter and absorb dustparticles and other harmful air pollutants.

Customers who spend at least $3,000 using HSBCs new ecosmart MasterCard can

redeem earned points in the form of charitable donations to organization involved in theHSBC Climate Partnership, including Earthwatch Institute and Smithsonian Tropical

Research Institute. Other organizations that HSBC card members can support with their

earned points include Arbor Day Foundation, Wind Power Renewable Choice.

Barclaycard Breathe Barclay has introduced a Breathe CardThe success ofthe Breathe. Barclaycards Breathe donates a whopping 50% of after-taxprofits to government-approved environmental projects in the UK, SouthAmerica and Asia that tackle climate change. Apart from these benefits, the

Breathe card generates no paper statements for its customers and the card itself is madefrom greener non-PVC material.

Bank of AmericaBank of America offers any of its green credit card holders who earn WorldPoints toredeem them for a wide range of eco-friendly products and projects. Any Bank ofAmerica credit card that earns WorldPoints is eligible to earn these rewards at noadditional cost.

Credit card rewards go green:

Credit card rewards are taking on a greener hue. A rising number of card issuers let

environmentally minded people use points for such options as donating to a renewable-energy cause or buying a solar battery charger.

Last month, Wells Fargo added eco-friendly choices for its reward card holders. Bank of

America and Citibank plan to add green points this year or next. And Bright Planet, a

Vermont company, will soon introduce Bright Card, which will benefit clean-energy

projects
http://www.disclosure.hsbccreditcard.com/media/disclosure?cmd_1page=&indicator=HS009&media=H5IM112UAX0805000575XXTHXhttp://www.hsbccommittochange.com/environment/climate-partnership/index.aspxhttps://www.rewards-catalog.com/epx/index.cfm?uid=77667865876777&web=MSR&dt1=2752766&fuseaction=EPortal.CatalogSearch&bcSpotlight=Spotlights&bcSpotlightCls=Go%20Green&SPID=1&ILC=EN&search=N&itemdet=Nhttp://www.creditcardwatcher.com/card/issuer/Bank-of-Americahttp://www.creditcardwatcher.com/card/issuer/Bank-of-Americahttp://www.disclosure.hsbccreditcard.com/media/disclosure?cmd_1page=&indicator=HS009&media=H5IM112UAX0805000575XXTHXhttp://www.hsbccommittochange.com/environment/climate-partnership/index.aspxhttps://www.rewards-catalog.com/epx/index.cfm?uid=77667865876777&web=MSR&dt1=2752766&fuseaction=EPortal.CatalogSearch&bcSpotlight=Spotlights&bcSpotlightCls=Go%20Green&SPID=1&ILC=EN&search=N&itemdet=Nhttp://www.creditcardwatcher.com/card/issuer/Bank-of-Americahttp://www.creditcardwatcher.com/card/issuer/Bank-of-America


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Another reason is that in a widening field of competitors, card issuers want to seize

attention. And as airline rewards turn more restrictive, green rewards feel appealing, not

to mention trendy.

"Credit card issuers are saying, 'How can we appeal to new segments?' " says Kelly

Hlavinka of Colloquy, a marketing firm that studies rewards programs. "If travel rewardsare not so popular now, maybe philanthropic and environmental things are more

appealing."

Among the green rewards:

Consumers with a Wells Fargo rewards card can now use their points to back renewable-

energy projects. With points ranging from 5,000 to 10,000, they can support the

development of green power.

"They can demonstrate their commitment to the environment," says Nancy Beaver of

Wells Fargo. The bank hopes that by adding a twist of green to its rewards program, it

will be able to retain some consumers longer, Beaver says.

Starting next month, Bank of America's WorldPoints Rewards card holders can use

points to buy environmental merchandise. Eventually, the bank says, card holders will be

able to donate points to groups that invest in greenhouse gas reduction. In late summer, it

plans to unveil an eco-friendly card in which every reward point will go toward

greenhouse gas reduction.

Citigroup has just begun a program of environmental projects that will include credit

card green rewards. It says its card rewards will soon add environmental products, suchas compost systems and recycled milk-carton furniture.

Card holders will also be able to donate points to their choice of environmental groups.

Bright Planet, which helps fight climate change, plans a card that will let people aid

clean-energy projects each time they spend.


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Major credit card companies offer "affinity cards" like the RED Amex cardLenora told us about in March. These cards provide donations to nonprofitorganizations whose logo or image is featured on the card. Donations usually runa half a percentage point from every purchase, balance transfer or cash advancemade with the card. On the plus side, this is a dependable revenue stream for thenonprofit - on the minus side, purchases made with these cards still may support

nefarious projects. Annual Percentage Rates (APR) for these cards can be 15-22percent (though some are much less) and many have an annual fee. The creditcard company MBNA offers the most affinity cards, they even have a PVC-freeWWF card available in Europe.

Working Assets Visa Card

Considered the "greenest" affinity card by financial experts at Co-Op America, the

Working Assets card donates ten cents with every purchase to your choice of one of

50 nonprofits. It also has a reasonable 9.9 APR and no annual fee. The card is issued

by MBNA.

Salmon Nation Visa Card

Provided by eco-friendly lending institution Shorebank Pacific, the Salmon Nation

Visa Card offers the biggest eco-bang for your buck. Half of the income generated

for Shorebank from the card goes to "Salmon Nation" an economic, cultural and

ecological community collective in the bioregion that contains Pacific salmon

spawning grounds.

Rabo launches climate conscious credit card:

Dutch banking group Rabobank is introducing a new 'climate credit card' that contributes

funds to environmentally-friendly projects every time the card is used to pay for energy-

hungry goods and services.
http://www.treehugger.com/files/2006/03/amex_red_card.phphttp://www.treehugger.com/files/2006/03/amex_red_card.phphttp://www.mbna.com/creditcards/enviro_causes.html%20https://wwwa.applyonlinenow.com/UKCCapp/Ctl/entry?sc=3wwfhp_OST&mc=MBN-HP-42230-44222https://wwwa.applyonlinenow.com/UKCCapp/Ctl/entry?sc=3wwfhp_OST&mc=MBN-HP-42230-44222http://www.workingassets.com/creditcard.cfmhttp://www.salmonnation.com/community/sn_visa.htmlhttp://www.treehugger.com/files/2006/03/amex_red_card.phphttp://www.mbna.com/creditcards/enviro_causes.html%20https://wwwa.applyonlinenow.com/UKCCapp/Ctl/entry?sc=3wwfhp_OST&mc=MBN-HP-42230-44222https://wwwa.applyonlinenow.com/UKCCapp/Ctl/entry?sc=3wwfhp_OST&mc=MBN-HP-42230-44222http://www.workingassets.com/creditcard.cfmhttp://www.salmonnation.com/community/sn_visa.htmlhttp://www.salmonnation.com/community/sn_visa.html


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Instead of investing a straight percentage of card proceeds into environmental funds, the

new card will look at the type of purchase - such as consumer goods, air travel or petrol -

and pay a proportionate sum into projects run by the World Wide Fund for Nature

(WWF).

Contributions are based on the impact of purchases on greenhouse gases. So buying

petrol would result in a higher contribution to an environmentally-friendly project than

paying for goods in a supermarket.

Johan van de Gronden, head of the WWF in the Netherlands, told Reuters reporters that

the charity wanted to come up with a way to align consumer behaviours with a

compensation mechanism.

Dutch-based Rabobank introduced a "Climate Card" this spring and U.K.-based BarclayBank(Charts) recently announced the Barclaycard Breathe card, which will "donate halfof all profits to carbon reduction projects around the world." Bank of America (Charts,Fortune 500) plans to introduce a carbon offset card soon.

Having big banks compete over who has the most eco-friendly credit cards is, on balance,a good thing. As GE's Gentile says: "People are going to spend money on credit cards.This is a good step."

It's a small example of a bigger problem: the belief that there are painless solutions tofixing global warming and that it can be a win-win for business, consumers and the

planet. In fact, the solutions will be painful for some, they will involve sacrifice for othersand they will be developed in Congress and state capitols, not at the mall. Butunfortunately these cards are still not introduced in India We hope soon we Indians willbe getting this cards will get greater scope to contribute in the Green revolution.
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KISHAN CREDIT CARDS

Honorable Union Finance Minister announced in his budgetspeech for 1998-99 that NABARD would formulate a Model scheme for the

issue ofKisHan Credit Cards to farmers, on the basis of their land holdings,

for uniform adoption by banks, so that the farmers may use them to

readily purchase agricultural inputs such as seeds, fertilizers, pesticides,

etc. and also draw cash for their production needs.

Objective

As a pioneering credit delivery innovation, Kisan Credit Card

Scheme aims at provision of adequate and timely support from thebanking system to the farmers for their cultivation needs including

purchase of inputs in a flexible and cost effective manner.

The kisan credit card scheme was worked out in the following manner:-

NABARD formulated a Model Kisan Credit Card Scheme in consultationwith major banks.

Model Scheme circulated by RBI to commercial banks and by NABARD

to Cooperative.

Banks and RRBs in August 1998, with instructions to introduce the

same in their respective area of operation.

Salient features of the Kisan Credit Card Scheme

Eligible farmers to be provided with a credit card cum pass bookincorporating the name, address, particulars of land holding,borrowing limit, validity period, a passport size photograph ofholder etc., which may serve both as an identity card and facilitaterecording of transactions on an ongoing basis.


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CASE REFERENCE---- THE VIDARBHA FARMERS SUICIDE

Vidarbha is region of former Deccan State. It is situated in the

south-west part of our country. Presently it is under Maharashtra State.Nagpur is one of the largest of this region.

Agriculture sector is the only livelihood to the two-third of Indias

population which gives employment to the 57% of work force and is a

raw material source to large number of industries. Despite of portrayal

of farming as a healthy and happy way of life, agriculture sector

experiences one of the highest number of suicides than any other

industry. In 1990s, India woke-up to a spate of suicide among farmers

community. The first state where suicides were reported was

Maharashtra with particular reference to Vidarbha region. A look at the

figures given out by State Crime Records Bureau makes it evident that

farmers as a professional category is suffering from this problem of

high-suicide rates. Approximately 3.4 million cotton farmers occupy the

Vidarbha region and 95% of them struggle with massive debt,

according to the Vidarbha Jan Aandolan Samiti (VJAS; Local Farmers'

Support Network). Incidence of farmers ending their lives in this region

had hit epidemic like proportions recently.

Why Farmers in Vidarbha ?

Vidarbha is home for approximately 3.4 million cotton farmers and 95%

of these are struggling with the massive debt. Most of the villages in

Vidarbha are badly in need of basic social infrastructure like all-

weather roads, drinking water, regular electricity, primary health care,

and basic education. Majority of suicide cases are from cotton growing

areas. The cotton farmers in India paying more prices for inputs like

seeds, pesticides, fertilizers, electricity, water, and labor whereas the

price of cotton has gone down along with decreased productivity.Some of the important contributing factors for farmers' suicide in this

region are:

absence of adequate social support infrastructure at the level of

the village and district,

uncertainty of agricultural enterprise in the region,

indebtedness of farmers,


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