FinTech Magazine - February 2023 | Page 89

SUSTAINABILITY an outburst of carbon markets in the past couple of years , where carbon itself has become a commodity .”
Mambu ’ s Green Banking Report also shows that customers are willing to pay a premium for sustainable services – but taking the easy way out risks alienating consumers and perpetuating “ greenwashing ”. “ Greenwashing is all too common and problematic ,” says Krotova , who believes the practice risks taking time and effort from consumers who have genuine intentions .
But David Turner of Emitwise continues : “ Carbon offsetting is still considered ' good ' where removal is not feasible , but businesses should focus on reducing GHG emissions from their own activities . When buying an offset from a verified provider , companies can be fairly confident that what they ' re paying for will reduce GHG emissions . However , this does not necessarily lead to a global reduction in emissions : if you ' re buying offsets , you ' re still producing emissions .