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General Electric Co. on Wednesday launched the nation’s first credit card with rewards dedicated to reducing cardholders’ carbon emissions.
The new credit card is part of GE’s “ecomagination” initiative, which includes growing research in cleaner technologies to $1.5 billion in 2010 and reducing the company’s greenhouse gas emissions.

Users of the MasterCard credit card, known as GE Money Earth Rewards, will be able to automatically contribute up to 1 percent of their purchases to buy greenhouse gas emissions offsets.

Credit card “rewards” will accrue over the course of the year and can be redeemed for emissions credit each Earth Day, April 22. Customers will have the choice to donate all of their rewards or receive a portion in cash.
GE AES Greenhouse Gas Services, a joint venture between GE’s consumer financing unit and power company The AES Corp., said the offsets will be scientifically verified by a third party.

Taken from: Business Week

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By Joshua Levitt
E-Commerce Sales and Marketing Manager for UsedCisco.com