New feature shows carbon reduced by doing digital transactions
GCash, the Philippines’ leading finance app and largest cashless ecosystem has announced its newest update, Green Transaction Alerts, which allows users to see the grams of carbon they reduced by digitally sending money and doing bank transfers.
GCash’s newest feature is the latest innovation to underscore the fintech giant’s commitment to sustainability. In 2019, GCash commissioned the China Beijing Environmental Exchange to compute carbon emissions of manual transactions converted to digital ones. The Green Transaction Alerts make use of the same computations and metrics, allowing users to see their reductions in carbon emissions by transacting digitally. The reductions in carbon emissions are realized when users forgo the consumption of paper and plastic or the use of electricity and transportation when they do their manual transactions.
“Sustainability is embedded in the way GCash conducts its business, and we’ve provided ways for our users to see how their actions on the app also contribute to environment-friendly actions that ultimately protect our planet and contribute to a greener future,” stated CJ Alegre, GCash Sustainability Head.
The Green Transaction Alerts complement other in-app sustainability features of GCash, including the award-winning GForest, which allows users to contribute to reforestation efforts through gamification. As of 2024, a total of 2.7 million trees have been planted by GCash, resulting from users’ digital transactions.
“We continue to look for ways to become an even more sustainable company, and more importantly, to provide avenues for Filipinos to take action for the planet - and this is only the beginning as will gradually make these alerts available for other transactions in the coming months. Combining the power of tech with innovation and creativity, we hope this will form a habit for Filipinos to consciously act towards creating a positive impact with every simple digital transaction they make,” added Alegre.
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About GCash
GCash is the Philippines’ #1 Finance App. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines which is a part of the country's leading digital solutions platform, Globe Group.
GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
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