China Construction Bank Commences Testing of Fintech-driven Personal Carbon Accounts


Big state-owned lender China Construction Bank (CCB) has kicked off trials for the use of tech-driven personal carbon accounts that will seek to incentivise low carbon behaviour by serving as the basis for preferential financial services.

On 7 September CCB announced that it had officially commenced testing of its project for “personal financial services based on carbon accounts” (基于‘碳账本’的个人金融服务) following successful registration with the Chinese central bank.

The project makes use of federated learning, big data and machine learning technology to amass and calculate data on the carbon emissions of individuals and create their own personal “carbon account.”

CCB then uses this carbon account as the basis for adjustments to personal financial services, including upgrades to credit card quotas, the provision of special awards, bank card fee discounts, payments discounts and special consumer points.

CCB said that it hopes the project drives innovation in personal financial products by commercial banks, helps commercial banks to explore paths for the conversion of financial value, and guides customers in actively fulfilling low carbon lifestyle concepts.