Can a credit card spur sustainable behaviour? Banks should relook incentives, say observers
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Banks have continued with long-running perks for motorists who use petrol, but they are also increasingly catering to EV drivers.
PHOTO: ST FILE
SINGAPORE – Your credit cards that come with petrol discounts might soon have more perks for electric vehicle (EV) charging and other sustainable products, as banks drive towards their net-zero commitments.
Financial institutions can align more closely with their sustainability goals by adjusting their products for individual customers to encourage the use of cleaner energy, observers told The Straits Times. When it comes to institutional and corporate clients, a few banks have set out decarbonisation targets for sectors such as power, automotive, and oil and gas.
