The Commonwealth Bank has begun advising customers how much damage they have done to the environment with their carbon footprint based on monthly spending.
Customers are now shown on their banking app how many trees have been destroyed as a result of their consumerism, and they are offered the chance to pay a fee to offset the destruction they have caused.
The information is being provided to customers in a bid to push them toward more sustainable purchases.
CommBank Group executive Angus Sullivan said the service would eventually advise customers about the carbon footprint for every transaction they made.
One Nation MP Mark Latham slammed the service.
‘If they are so worried about dead trees as a result of bank spending why are these imbeciles running a bank at all?’ he said.
Sullivan said the idea was to provide “transparency for customers so that they can take actionable steps to reduce their environmental footprint”.
“Our data capability will provide greater personalisation for customers overtime, including more granular information about their carbon footprint with the option to offset individual transactions,” he said.
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Author James Macpherson
