5 min read

Make payment a part of sustainable consumption

Make payment a part of sustainable consumption
Published on
November 2023

Actions for sustainable consumption take several ways in France. A part of French population cares about the origin of products, manufacturing method or the carbon footprint. These new criteria are taken into consideration in their purchasing process. However, one major player is missing out. The payment industry and traditional banks. In this article, we will cover these topics and understand why this is becoming a major issue.

What are we referring to when we mention "sustainable consumption" ?

Meaning of "sustainable consumption"

Responsible consumption is a global strategy that aims to reduce impact on natural resources and our environment.

This strategy aims at reducing carbon footprint of our daily actions. It is important to change our consumption habits. This journey gives citizens the responsibility to protect the planet. As well as these common resources for future generations.

Sustainable consumption in figures

The Observatory's study shows that "61% of French people are aware of the severity of the environmental situation". 90% agree on the idea that the impact of humans on environment is worrying. We also observe that a part of the French population, being aware of global warming, is starting to take actions in this sense.

There are between 15% and 25% of the French to integrate social and environmental criteria in their purchases. An awareness is felt among French citizens in recent years. A large number feel involved in a sustainable consumption way.

Purchasing choices for sustainable economy

Several sectors are effected by the new buying habits of their customers. Today's industry is starting to reinvent itself. We notice the emergence of online platforms that allow to buy second hand products, like Vinted. Also the growth of organic products for a few years now, which is a purchasing criteria for a part of the population. More and more organic products selling stores are born in France and are finding a customer base committed to sustainable consumption.

The purchases of these involved citizens are focused on several qualities :

  • Purchase locally grown or produced products
  • Purchase of products from organic farms
  • Purchase of re-usable everyday products
  • Purchase of fair trade products
  • Purchase of products from developing countries
  • Purchase of eco-label material
  • Purchase of ecological products
  • Reusable and returnable products (in festivals for example)
  • Purchase of recycled products

All these fields are promoted by the sustainable consumption process. However, this list is not an exhaustive one. For a product to be part of this concept, it must be ethical, sustainable and ecological. If one these criteria is not respected we cannot admit this product or service as sustainable.

Major sectors of the shopping journey

Banking industry

When we mention sustainable consumption, we mostly consider the choices we make in our purchases. But we often tend to forget a major player : the bank.

Based on a study by "Oxfam France", the carbon footprint of French banks amounts to nearly 8 times the total greenhouse gas emissions of the whole country. The latter are investing savers account in fossil industries.

If French banks continue to fund the fossil industry, this would lead to a global warming of more than 4°C in 2100. This is 2,5°C higher than the objectives set in the Paris Agreement.

To control this energy disaster that this sector generates, we notice the birth of eco-banks. A great alternative to traditional banks for people who want to go further in their ecological actions. An eco-bank in a banking company that offers "green" solutions to traditional banks.

Their actions guarantee to merge an environmental awareness with the services of a traditional bank. This means that green banks do not finance polluting industries. These banks allow you to remain consistent with your values of sustainable consumption.

Payment industry

A sector related to the banking sector, the payment industry is not left out. We all use a credit car to make our purchases. This action has become a trivial part of our daily lives. And yet, this habit allows huge payment companies to get rich without thinking about the impacts it has on us and the planet.

The traditional players do not offer solid alternatives to build a better ethical finance.
In addition to charging high commission fees and getting rich on transactions. This industry only capitalizes and does not put its profits back into environmental causes. The focus of Retreeb is to change the landscape of this industry.

Retreeb, your 100% ethical payment provider in your sustainable consumption journey

Retreeb is an ethical 3.0 payment ecosystem. It allows to operate in conformity with the universal values of ethics, sharing and solidarity. It is the last missing link of the chain of 100% sustainable purchasing.

Contribute to social environmental projects without it costing you a penny

At Retreeb, we wanted to give consumers the choice to consuming in a sustainable way from the very beginning of their purchase.

The application allows you, through each payment, to fund environmental and social causes. Indeed, 33% of the commission fees are donated to various non-profit organizations selected by Retreeb. Choosing Retreeb as a payment solution means that you can contribute on a daily basis without it costing you a penny. And to be aligned with its values of consuming in a sustainable way.

Payment by mobile app

To use Retreeb, you just need to pre-registered. You will be notified when application is released !

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