AMEX shows it’s not all about the money
American Express announced Monday that it will soon offer a credit card manufactured from plastic trash recycled from the Earth’s oceans.
Although the movement will not do much to remove plastic from the ocean, it will create awareness about the general public’s effect on the environment. According to environmental advocacy group Ocean Conservancy, the ocean contains 150 million metric tons (!!!) of plastic, and this figure rises by 8 million tons annually. Additionally, 60% of seabirds and 100% of sea-turtle species contain plastic due to their misjudgment of floating plastic as food.
The card will debut within the next twelve months, according to executive vice president Janey Whiteside. She addresses the issue,
We can play a unique and important role on an issue that is highly important and relevant to our card members’ lives… I’m hopeful that when someone pulls out a card made from the more sustainable materials and pays with it, it will remind them to make more informed choices.
AMEX also announced that it will remove all single-use plastic items from its airport lounges and its company headquarters by the end of 2018.
The news did not spark too much of an increase in stock value, bumping their shares up just 0.4% on Monday, but the decision will prove very advantageous for the company. Further, not only is AMEX helping the environment by creating awareness, but it is also creating brand value.
Philanthropic efforts offer a win-win for companies like AMEX. They help a cause and improve the company name simultaneously. Hopefully, other credit card companies like Visa and Mastercard will follow suit and roll out similar projects.
Featured image via Pixabay/12019