Through an intuitive dashboard built into the app, this cutting-edge technology enables HSBC Kinetic customers to view estimated carbon dioxide equivalent (CO2e) values for their HSBC Kinetic Debit Card transactions, according to ESG News.

When using the Carbon Insights tool, business owners can easily view a summary of their expenses broken down by categories. Additionally, the application provides useful recommendations for possible emission management strategies.

According to Peter McIntyre, Head of Business Banking at HSBC UK, "We launched the Carbon Insights tool to help small business owners take a first step in understanding the potential climate impact of the business expenses paid through their HSBC Kinetic Debit Card." Raising awareness and understanding of greenhouse gas emissions

Customers using HSBC Kinetic Debit Cards can use this opt-in option at no additional cost. Clients are asked a series of questions about their firm, and an estimate of the carbon emissions for transactions is calculated using this information together with the kind of payments made using their HSBC Kinetic Debit Card.

Clients are able to monitor their yearly carbon footprint and contrast it with the industry standard. They may also see monthly comparisons of their CO2e projections broken down by areas of expenses including utilities, staff, equipment, business travel, and administration.

This solution was developed in partnership with HSBC's card issuing partner, Visa, and climate engagement fintech, ecolytiq.

"Small-to-Medium sized businesses represent over 90% of all businesses worldwide, and therefore play a crucial role in driving sustainability," said David Lais, co-founder of ecolytiq, in response to the news. However, far too frequently, they lack the necessary direction to do so. We are thrilled to provide small company clients of HSBC UK a carbon insights solution and assist them in assessing their effect and business purchase choices.

"Visa helps develop the next generation of seamless payment experiences, working with partners on solutions that then benefit thousands of UK businesses and millions of consumers," said Mandy Lamb, Head of Visa's UK and Ireland division. We are happy to have teamed up with HSBC UK to provide their small company clients with carbon insights, enabling them to better control their carbon footprints.

Through ongoing client engagement, HSBC Kinetic is able to better understand the requirements and expectations of its users, which makes it possible to offer new features and improve the operation of the app.