Mastercard and Doconomy have teamed up to issue a new credit card that freezes your spending when you've reached your carbon credit limit.
They're counting on it appealing to a younger generation of consumers. From the Doconomy website:
"In the spirit of empowering a forward-thinking new generation to become the responsible consumers of tomorrow, we are offering a premium card."
"Thankfully, we are living in a conscious age, with a new generation of people fully aware of their role in society and prepared to make a real difference."
What this means is that you could literally buy a burger and have your credit frozen.
The card has been endorsed by The World Economic Forum since it so closely aligns with its sweeping Great Reset initiative. But as we are learning, the Great Reset doesn't exactly align with free markets as we now know them. Similar to the CCP social credit system in China, it drives conformity to environmental, social and governance (ESG) causes but at what price to individual liberty and free markets?
Will the younger generations of consumers buy in? It's unclear. Certainly the target market is more inclined to environmentalism but are they willing to give up their freedom to choose what they want when they want it? We'll see. It will certainly have a dramatic impact on consumer-oriented businesses and their strategies. I have my suspicions. What are yours?