UOB and SP Group Collaborate to Offset Household Electricity Carbon Emissions for UOB EVOL Cardholders

Published on: 23 November 2022
by KnowESG
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Thanks to a new service announced this month by UOB and SP, UOB EVOL cardholders can now offset 100% or more of their household electricity carbon footprint for free when they charge SP Group's (SP) utility bills to their credit card.

When clients charge SP utilities bills to their UOB EVOL card, UOB will pay and contribute 2% of the billed amount to acquire My Green Credits on their behalf on the SP app. Customers can join the green movement and save money with My Green Credits by buying the right amount of "green credits" in the form of Renewable Energy Certificates (RECs). This makes it easy for customers to join the movement toward sustainability.

For example, when customers charge a $90 utilities bill to their UOB EVOL card, they will receive $1.80 worth of complimentary My Green Credits from UOB, equivalent to 2% of the billed amount. My Green Credits are purchased for S$0.12 per 25 kWh, which will translate to offsetting 375 kWh (kilowatt hour) or equivalent to an average national 4-room HDB flat’s electricity usage. This is equivalent to offsetting 100 per cent of the home’s electricity carbon footprint.

New UOB EVOL cardmembers who pay their SP bills through the SP app will automatically receive the complimentary My Green Credits, while existing cardholders who pay their bills through the SP app before November 10, 2022, will only need to re-add their EVOL card as a payment method once to be eligible.

When a customer pays a bill, their My Green Credits will show up automatically in their SP app. They don't have to do anything else. This benefit is available for both one-time and recurring SP bills payments.

The UOB EVOL card is the first in the industry to partner with SP Group, Singapore's national grid operator and the region's leading developer of sustainable energy solutions, to provide users complimentary My Green Credits when they pay their utilities using their EVOL Card. This functionality is available to both existing and new EVOL cardholders.

When you buy My Green Credits, they will be used to help build green energy projects in the area that use sustainable energy. Customers can use the SP app to look at and choose which projects they want to help with their complimentary My Green Credits.

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Source: UOB

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