Carbon Footprint Calculator

It is a service for calculating carbon dioxide emissions related to services/products you consume. Each purchase you make with your card is classified into a specific transaction category and through a specific algorithm the estimated amount of carbon dioxide emissions CO2e is calculated for each euro (€) you spend. It also allows you to change the category of a transaction and/or answer questions about your transactions for a more accurate calculation of your footprint. The service is available free of charge through Piraeus e-banking and Piraeus app, upon registration.

Understanding our carbon footprint can help reduce our impact on the environment, such as which aspects of our lifestyle cause CO2e emissions which combined with advice and informational messages provided through the service can help to adopt more sustainable environmental behaviours. In addition, a more accurate calculation of CO2e emissions is provided if answer to some optional questions. In short, we want to give you a first insight into your CO2e emissions and help you take the first steps towards more sustainable choices.

Climate change is an important issue for many people. However, understanding our personal impact on climate change can be difficult. Most people do not know how to help or feel that their contribution will not make a difference. We offer you an easy tool to take an estimation of carbon dioxide emissions related to services/products you consume, as a basis for making more sustainable decisions. Reducing CO2e emissions can help combat climate change.

Each purchase you make with your card is classified into a specific transaction category and through a specific algorithm the estimated amount of carbon dioxide emissions (CO2e) is calculated for each euro (€) you spend. The calculation of CO2e is supported by the company Clarity AI, with which Piraeus Bank cooperates and is based on reliable sources, such as data from governments, research institutions, clubs, associations and NGOs. For more information you can visit the website of the Organization for Conscious Consumerism.

Carbon emissions depend on the country/region you live in. For example, an avocado bought in Germany has a different carbon footprint than one bought in Mexico (its country of origin). Therefore, the carbon footprint calculation is approached from a country-level analysis. In addition, different spending categories have different carbon footprint. More information can be found in the White Paper published by the Office for Conscious Consumerism (OfCC).

Upon signing up for the service, an automated algorithm calculates your CO2e emissions per transaction, based on the business category. More information about the methodology can be found here.

CO2 stands for “carbon dioxide” and is the most common greenhouse gas that comes from burning fossil fuels. CO2e stands for 'carbon dioxide equivalent' and is a measurement method for emissions that also takes into account the effects of other greenhouse gases such as Methane and Nitrous Oxide.

No, it is not visible. We only know the amount you spent and the business category the payment was made to in order to use it in the CO2e calculation algorithm. The calculation model is based on estimates and is not 100% accurate. Of course, CO2e emissions are not only determined by where you buy, but also by what you buy. For a more accurate calculation of the CO2e produced, you can, if you wish, add more accurate data about what you buy, through a relevant questionnaire and/or by providing some additional information about transactions in certain categories of merchants, in order to recalculate the CO2e produced based on your transactions.

The answers to the questionnaire, which is optional, are intended to provide a more accurate indication of your CO2e emissions in different expenditure categories. For example, when you own an electric car, your CO2e emissions differ from someone who drives a diesel car. Based on this, your CO2e emissions calculation is further determined. If you choose not to answer the questionnaire, overall average values will be used to calculate your carbon footprint.

It provides a consolidated overview as well as details of your CO2e emissions from different categories such as groceries, transport, energy and more. If a transaction cannot be allocated to a specific category, it will be assigned to the "Other" category.

The company Clarity AI, with which Piraeus Bank cooperates, through Visa, to calculate the carbon footprint of transactions, receives user data from us under pseudonyms and creates an account based on it, without having access on details of a transaction (e.g. shopping cart, list of items, etc.).

Clarity AI, with which Piraeus Bank cooperates, through Visa, to calculate the carbon footprint of transactions, takes strict measures to guarantee your privacy. No more information is requested or used than is required for the calculations. They operate fully GDPR compliant and use your payment transactions only to calculate the carbon footprint attributable to goods and services you use in a secure data environment.

Piraeus Bank’s credit, debit and prepaid cards for individuals (Visa & Mastercard). Corporate cards, Prepaid Gift card and Piraeus Deposit Card are excluded.

In the cases of credit cards in which there is a main and an additional οwner, each owner will see separately the CO2e generated from their transactions.

The carbon footprint of your transactions is provided via Piraeus e-banking and Piraeus app and is displayed:

a. on the movement screen of each card (in completed transactions) and

b. on a specially configured page for the service, where you will be able to see the sum of the carbon footprint of your card transactions, by transaction category.

The carbon footprint of installment transactions will appear a. on the screen of each card's movements, in completed transactions, either by installment or in the initial one-off transaction and b. on the specially configured page for the service, by transaction category, as the sum of all the customer's transactions with his cards and the date of the installment as it is sent by the merchant to the Bank.

In the specially configured section for the service, the carbon footprint of the transactions that have taken place in the last 12 months, since the customer's registration in the service, will be displayed. Therefore, the carbon footprint of installments exceeding 12 in number from the date the customer subscribed to the service may not be displayed. In contrast, it will appear on the card movement screen.

After logging in to Piraeus e-banking/Piraeus app, select the "Carbon Footprint Calculator" icon and then follow the relevant instructions.

The "Carbon Footprint Calculator" service is provided free of charge.

You have the possibility to unregister from the service at any time by submitting, through Piraeus e-banking / Piraeus app, a relevant request, the processing of which will be completed immediately. As long as you are not registered with the service, the CO2e of your transactions will not be calculated and all carbon footprint calculations on your transactions will be deleted. You can re-register to the service at any time.