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How the Aland Index is Changing the Game

Aland: In 1997, Finnish banking group Bank of Åland established the Baltic Sea Project to create awareness of the deteriorating environment of the Baltic Sea. As part of the project, the bank created a new biodegradable credit card and a fund, which is open for applications by individuals, companies and initiatives who wish to apply for funding to improve the state of the Baltic Sea. Yearly, .2 percent of the bank’s total deposits are donated to the fund, which has yielded €1.6 million since the project’s inception.

The bank also created the Aland Index, which calculates the individual carbon footprint of each transaction made by cardholders. By combining the cardholders’ credit card data with transaction categories, the cardholder receives a monthly statement detailing his or her carbon footprint. The cardholder can then choose to donate to local or global initiatives to compensate for the footprint.

Anne-Maria Salonius, Alandsbanken

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