UOB TMRW rolls out feature measuring ASEAN customers’ carbon footprint

It will be generated based on their spending and saving habits.

UOB TMRW has is set to add a carbon insights feature in its digital banking platform that enables its ASEAN retail banking customers to access personalised carbon insights.

The carbon insights will be generated based on the customers’ spending and saving behaviours in the app. 

The feature will also reportedly help customers build awareness of their carbon impact and encourage them to take positive actions towards adopting more sustainable lifestyles, UOB said in a press release.

“We are excited to be at the forefront of developing an ASEAN-first carbon insights solution for our customers. In doing so, we hope to empower our customers with actionable insights to live more sustainably,” said Kevin Lam, head of TMRW and group digital banking.

In particular, UOB TMRW’s new feature will automatically calculate an estimate of a customer’s overall carbon footprint based on their spending profile, broken down into spending categories and time periods; use international benchmarks as well as locally adapted emission standards to provide a robust but localised footprint; and provide personalised carbon insights so that customers can understand how various aspects of their spending can positively impact the environment using simple and relatable examples.

Carbon Insights is expected to launch, first in Singapore, next year. It will complement UOB’s existing suite of sustainable products for retail customers, which includes Go Green loans and sustainable investment solutions.