Milestone reached as more and more Filipinos go digital through GCash
On the occasion of International Zero Emissions Day, GForest proudly announces its remarkable achievement in reducing a total of 52 billion grams of carbon emissions through the numerous digital transactions conducted by GCash users. These everyday services encompass activities such as money transfers, bill payments, and mobile load purchases.
Our daily routines contribute to our carbon footprint, representing the cumulative greenhouse gas emissions associated with these activities. To combat this environmental challenge, tree planting initiatives are instrumental in carbon sequestration, the process of capturing and storing carbon dioxide, thus reducing its presence in the atmosphere and mitigating the impact of climate change.
As a trailblazer in the fintech industry and a dedicated supporter of the United Nations Sustainable Development Goals, GCash encourages Filipinos to minimize their carbon footprint by providing incentives for conducting digital transactions through GForest.
GCash users are rewarded with green energy points for engaging in digital financial transactions within the app. The carbon emissions offset by adopting digital practices are converted into green energy points, which users can utilize to virtually plant trees. To ensure the accuracy of these points in relation to actual carbon reduction, GCash has partnered with the China Beijing Environmental Exchange (CBEEX), leveraging science-based methodologies for precise calculations.
The virtual trees planted by users are subsequently transformed into real trees through partnerships with local and international organizations strategically positioned across the Philippines. Over time, these trees will actively sequester carbon from the environment, making a tangible impact on carbon reduction.
CJ Alegre, GCash Head of Sustainability, emphasizes the dedication to addressing climate change through partnerships with CBEEX and other established organizations in the Philippines for reforestation efforts. By incorporating sustainability practices and scientific evaluation methods, GCash ensures that its climate goals are achieved.
Since its inception in 2019, GForest has successfully planted a total of 2.5 million real trees, covering over 11,000 hectares across Luzon, Visayas, and Mindanao, resulting in the sequestration of approximately 1.3 million tonnes of carbon. This remarkable achievement has been made possible thanks to the support of its 14.4 million green heroes.
For more information on GCash and its sustainability initiatives, please visit https://www.gcash.com.
