FAQ

CO2 Tracker is a new feature on MyPB App that allows you to have an in-depth view of your carbon footprint from your card spending to have a better understanding about your environmental impact.

A carbon footprint is the total amount of greenhouse gases, specifically carbon dioxide (CO2), emitted directly or indirectly by human activities, such as driving cars or producing goods and services.

It is measured in units of CO2 equivalent and is used to quantify the impact of individuals, organisations or products on the environment in terms of their contribution to global warming and climate change.

Currently, the CO2 Tracker is accessible only by PB Visa Signature and PB Visa Quantum credit card holders.

CO₂ Tracker comprises of two main functions:

• Carbon Tracker
  The Carbon Tracker provides an estimation of the carbon emission (in kg CO₂) linked to your credit card purchases, allowing you to analyse your carbon impact from each transaction for the past 13 months.
  
  

• Carbon Offset
  Carbon Offset allows you to contribute to various emission reduction projects i.e. Carbon Offset Projects to offset your carbon impact either by the month or by each transaction.

The CO₂ Tracker on MyPB App is supported by Verrency, a Climate FinTech firm, who leverages on externally sourced global environmental performance datasets that are used to measure environmental impact and identify climate risks. The emission data is collected from various international agencies and sources.

Please refer to the table below for sample activities, estimated emission and cost to offset.

* Estimated emission as the calculation is based on merchant industries

^ Estimated cost as currency fluctuates and offset projects providers charges may vary.

Understanding your carbon footprint empowers you to take meaningful steps towards reducing it. You may then consider changing your lifestyle and taking energy conservation measures.

You may also choose to offset your carbon footprint through the Carbon Offset function on MyPB App.

Step 1: Click the “Offset Now” button to perform a Carbon Offset.

Step 2: Select the type of offset (Monthly-based or Transaction-based).

Step 3: Select the preferred Carbon Offset Project to perform the Carbon Offset.

Step 4: Input your preferred Carbon Offset amount.

Step 5: Confirm your transaction. Public Bank will then proceed to use these transacted funds to purchase equivalent amounts of carbon credits and contribution to the Carbon Offset Project on your behalf.

Offsetting your carbon footprint helps the environment by funding projects that reduce greenhouse gas emissions i.e. Carbon Offset Projects. This helps balance out the emissions you generate, contributing to overall efforts to combat climate change and reduce global warming.

Available Carbon Offset Projects are as follows:

* Note: Actual distribution amounts to the selected carbon offset project may vary due to the fluctuation in currency exchange rate. Difference in amounts arising from the currency exchange, if any, will be distributed to the Greening Malaysia Programme.

The Greening Malaysia Programme through National 100 Million Tree Planting Campaign is a 5 years campaign starting in 2021 until 2025. It is an initiative by the Ministry of Natural Resources, Environment and Climate Change that aims to increase the awareness on the importance of forest area and to ensure the commitment to maintain forest area in Malaysia.

Public Bank carefully selects the carbon offset projects either accredited by Verra, through the rigorous Verified Carbon Standards (VCS) program, or Plan Vivo, listed on the IHS Markit Registry, part of S&P Global. For more information, please refer to Verra's or Plan Vivo’s official website.

All Carbon Offset transactions will appear under your credit card transaction history. You can click on “View Certificate” to view the Carbon Offset Certificate generated from your offset transaction via MyPB App.

There are no additional fees charged by Public Bank for carbon offset transactions made.

Public Bank cannot guarantee that contributions made to the Carbon Offset Projects are income tax deductible. Please refer to the Malaysian Inland Revenue Board for the latest and most accurate information regarding tax deductions related to carbon offsets.

The carbon footprint details would be reflected within TWO (2) business days after each transaction is made.

The CO2 Tracker is supported by Verrency. The calculation integrity is assured by reputable independent auditors.