Many financial institutions are taking a greener approach, but customers should beware of pitfalls and risks
Foster City, California – November 17, 2021 – Banks and financial industries are “going greener”, giving consumers the opportunity to direct their finances towards an environmentally friendly agenda. Leading credit card comparison site CardRatings.com publishes Greener Money: Making Eco-Friendly Financial Choices to explain how consumers can make “greener” financing choices.
“As public awareness of the environment and climate change continues to grow, businesses – even those you generally don’t think of as ‘green’ industries – are responding by implementing more sustainable business practices.” says Brooklyn Lowery, managing editor of CardRatings. “It’s important to do your homework, as there can be risks or hype associated with green finance. This new resource provides tips for making the right decisions.”
With the big banks embracing the green finance approach, more and more of them are helping consumers make the connection between their purchases and the environment. Financial institutions such as Bank of America and CitiBank claim practices aimed at improving the environment through methods ranging from energy efficient business operations to investing in renewable energy.
Not all financial institutions are on board, but consumers can explore options for financial products such as checking accounts or credit cards.
In its new resource, CardRatings shares tips on what consumers can do to “go green”. These include:
- Compare environmental objectives. It is important to take the time to read company goal statements.
- Promote transparency. What has the organization actually achieved in its environmental efforts?
- online bank. The way people bank makes a big difference. In addition, online banking services often provide customers with better financial terms.
- In search of tangible steps. This could include choosing a metal or plant credit card, as well as the electronic communication option to save paper.
- Don’t be distracted from the terms. Financial decisions should be made based on value and environmental impact, each to be assessed separately.
The new CardRatings resource also discusses the cryptocurrency trend and criticisms of its environmental impact, as well as the risks that can accompany “green finance,” including what some skeptics call “greenwashing”.
Dr. Linda Simpson, professor at Eastern Illinois University, also discusses environmental, social and governance (ESG) investing to guide those who wish to have an environmental impact.
“The trend towards environmentally responsible business practices has created even more opportunities to make better choices for the planet and for the wallet,” adds Lowery.
Lowery is available to comment on the evolution of cryptocurrency and can discuss the nuances of credit cards that may work to the benefit of the consumer.
CardRatings is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance market technology and services to the financial and home service industries. QuinStreet is a pioneer in providing online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. CardRatings is a member of QuinStreet’s expert research and publishing division.
CardRatings has innovated in online credit card ratings and has been offering independent ratings and reviews of credit card offers since 1998. The website collects and maintains data on over 700 credit card offers and compiles carefully objective lists of the best credit cards by card type, making it easy for consumers to find the right card to meet their needs. Sign up for the bimonthly newsletter here.
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