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Aussie fintech, Sphere, is expanding its carbon action technology to millions of cardholders in Asia, with two Vietnamese banks adopting the service.
Techcombank has joined Malaysian banks Maybank and Public Bank in offering the Aussie-developed carbon insight and action tool to Visa cardholders. Another Vietnamese bank, Sacombank, will provide access to the service from May 2025.
Sphere Chief Executive Shaun Lordan said the company was also working with merchants and payments platforms across Australia and the Asia-Pacific region to help automate climate emissions reporting. The service is designed to support environmentally conscious consumers at the checkout.
“It’s encouraging to see international banks adopting our climate tech, enabling millions of customers to better understand their carbon footprint and take action,” Lordan said.
“Our technology now extends beyond banking, helping merchants and payments platforms with their ESG and mandatory climate reporting requirements. Sphere provides automated data to help businesses understand their carbon impact and reduce emissions while supporting quality offset projects.”
Lordan said businesses using Sphere’s services could also offer customers insights into their carbon footprint at a transactional level in real time.
Expanding Global Reach
Sphere’s API and modular design allow financial institutions and merchants to integrate the carbon action tech into their systems with minimal effort.
The company is partnering with Visa across APAC and CEMEA, providing access to its technology for hundreds of banks in 100 markets worldwide.
The climate tech helps cardholders track the carbon footprint associated with everyday card spending and gives them the option to offset emissions by making micro investments in carbon reduction projects. These projects must have a minimum A rating under the BeZero rating framework.
Sphere’s platform uses Ai and machine learning to analyse consumer spending data, offering:
- An estimation of the user’s carbon footprint.
- Advice on reducing emissions.
- Options to make micro investments in carbon reduction projects.
Consumer Demand For Climate Action
Lordan said the company’s focus was on driving individual change to help meet net zero targets.
“Around 70 per cent of global emissions come from the things we buy every day. Consumers want ways to make more informed choices, with 95 per cent of people considering sustainability important and 62 per cent willing to change purchasing habits to reduce their environmental impact.”
Sphere has partnered with Swinburne University of Technology, which has joined as an equity partner. The fintech’s technology builds on card payments solutions developed in Australia, aiming to simplify emissions tracking and climate action for businesses and individuals alike.
Last Updated on March 11, 2025 by Nick Ross
