In a pioneering move, Sphere, an Australian eco-tech firm, has partnered with DCS Card Centre to allow Singaporean credit card users to convert their rewards into carbon offsets. Starting in early June, consumers can use up to 8% of their Visa Platinum Card spend to support environmental projects, such as reforestation, through a card-linked app.
Sphere CEO Shaun Lordan highlighted the significance of this innovation, stating, “For the first time, consumers can use rewards points to offset carbon emissions and aid biodiversity by investing in accredited environmental projects.” He emphasised the importance of individual action, noting that 70% of global emissions stem from consumer purchases.
This initiative is part of Sphere’s broader strategy, which includes partnerships with major banks in Asia, such as Sacombank and Techcombank in Vietnam, and Maybank and Public Bank in Malaysia. Sphere is also collaborating with Visa to extend its carbon insight and action technology to banks across 100 markets worldwide.
Lionel Lee, Senior Managing Director of Consumer Cards at DCS Card Centre, expressed pride in the partnership, stating, “We’re proud to partner with Sphere, offering our cardholders the power to make a positive environmental impact with every transaction.”
Sphere’s technology, developed in collaboration with Swinburne University of Technology, enables seamless integration of carbon action tech for financial institutions and merchants. This innovation underscores Sphere’s commitment to sustainability and its role in driving eco-friendly consumer behaviour.
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