Solution: One bank, 21 million users, and the race to make green living count

Applicant: CITIC Bank Credit Card Center

 Challenge

Green living is easy to endorse — but hard to track. Under China's dual carbon goals, the public has broadly embraced the idea of low-carbon consumption. But without accessible tools to measure their carbon reduction, and without tangible rewards for doing so, most people never translate good intentions into consistent action. The finance sector — one of the most influential drivers of consumer behavior — had not yet established common standards for carbon accounting in financial services.

Three gaps held the system back:

No unified methodology. Financial institutions lacked agreed-upon frameworks for calculating carbon reduction in financial transactions — making it impossible to compare results across banks or prove the impact of going paperless.

No user-facing tools. Consumers had no way to see the carbon impact of their daily choices — paying a bill online, taking public transit, or choosing a green product — or to convert those choices into any kind of reward.

No ecosystem. Green finance products existed in isolation, disconnected from each other, from partner platforms, and from the broader carbon credit system. The network effect that could drive mass adoption was entirely missing.

CITIC Bank Credit Card Center set out to fill these gaps — starting in 2021, when it became the first bank in China to explore a carbon reduction accounting methodology for financial scenarios.

 Solution

CITIC Carbon Account: China's First Bank-Led Personal Carbon Account

In 2022, CITIC Bank officially launched the CITIC Carbon Account — the first personal carbon account initiated by a bank in China. Users link their credit card and bank account to track the carbon footprint of their financial behavior, earn carbon credits for green actions, and redeem them for rewards. The platform converts daily transactions into real environmental impact — turning abstract low-carbon choices into a tangible, measurable asset.

A National First: Standardized Carbon Accounting for Paperless Finance

Building on three years of real-world experience, CITIC Bank led the development of Shenzhen's Carbon Inclusive Methodology for Paperless Financial Services (Banking Sector) — China's first standardized carbon accounting methodology for paperless banking scenarios. Published in May 2025, the methodology covers seven distinct financial transaction categories:

• Electronic debit cards

• Electronic credit cards

• Electronic statements

• Online bill payments

• Online loans

• And additional paperless banking services

The framework creates a fully standardized chain: digital financial services → carbon reduction quantification → carbon asset monetization. This is the blueprint that other banks and financial institutions can now follow.

The Green · Trust · Hub: A 20-Partner Ecosystem

CITIC built its "Green Trust Hub" — a low-carbon ecosystem that brings together over 20 partners including China UnionPay, Huawei, Tencent, JD.com, and Meituan. The platform spans green mobility, green new energy, green recycling, and green dining — with each partner offering exclusive green rewards and privileges linked to the CITIC Carbon Account. Product highlights include the PASS Card and the iCar Pro Platinum Card, which bundle low-carbon benefits with premium financial services.

Scaling: From Transit to Steel, Across China

In 2024, CITIC expanded the Carbon Account to cover low-carbon commuting via public transit, achieving cross-platform carbon account interoperability with China UnionPay. The bank also partnered with Ansteel Group to launch the steel industry's first employee carbon account service platform. Today, the CITIC Carbon Account has reached 21.5 million users nationwide, with cumulative carbon reduction approaching 200,000 tonnes — and the network is still growing.

Impact & Value

Engaging a Billion Users in Green Behavior

The CITIC Carbon Account makes green behavior visible and rewarding. Each user's green journey is recorded through a "Green Credit Score" system, and regional environmental leaderboards add a social dimension — turning green living from a personal choice into a shared identity. By putting carbon accounting in the palm of every smartphone user, CITIC is helping to drive a consumer-level transition toward low-carbon consumption at a scale that few mechanisms can match.

Setting the Standard for Financial Carbon Accounting

As the first mover in bank-led carbon accounts, CITIC's methodology is now the reference point for the industry. Its Shenzhen paperless finance framework has attracted attention from regulators and peers alike, establishing paperless financial services as a measurable and replicable pillar of green finance innovation across China.

Economic Value: Rewards That Drive Real Change

The Green Trust Hub ecosystem mobilizes partners to invest in low-carbon innovation — creating new business models for green financial services. For consumers, the account offers a growing menu of green privileges and financial rewards, unlocking the spending power of environmentally conscious consumers and democratizing access to low-carbon benefits across income levels. Every transaction is now a small vote for a cleaner economy.