Will the USA Make ESG Score on You

by Nov 13, 2021ESG Carbon Footprint0 comments

Will the USA make ESG score on you? At first that might sound fine and dandy. But then you might not realize it could mean limiting your purchases at the stores and online. Will there be a carbon footprint new legislation concern?

Mastercard Doconomy Card

So how does Mastercard come into the conversation when we talk about environmental footprint concerns? Back in 2019, a Mastercard Doconomy Card was launched to keep track of your carbon footprint when purchasing goods, both in stores and online. At first it might seem well and good. But be careful what you sign up for. I am not saying this is what will happen, but it could in the future keep track of your carbon footprint, and limit your spending. If that resignates with your vision, great. But let’s just say you had to fly across the country because your mother died. And now you have a greater-than-normal carbon footprint due to the fuel used on the flight. Now you might not be able to use that credit card that same month because you over-used your carbon footprint. Even Google is starting to show carbon footprints on flights.

Will The usa make esg score on you

This would be more of a legislative move in the future. Pay attention what the House and Senate are doing in regards to possible new ESG standards and scores for individuals. Already in place are ESG scores for corporations. They are starting to receive scores based upon the carbon footprint of the owners, board members, and even the suppliers they use to make a product. Again, this might sound great. But keep in mind, this will increase the cost of items. And when something costs more to you, you have to work more hours to buy that item. A trickle-down affect happens then on a carbon footprint level. When you work longer & more hours, you use more fuel and wear and tear on your vehicle, adding to your carbon footprint. Where does it end? And check out our post about the Congressional hearing on environmental issues associated with Bitcoin’s proof of work for mining.

How bitcoin solves esg score concerns

So how does Bitcoin solve anything related to ESG score concerns? With Bitcoin, your funds are decentralized, bankless. You have full control of your spending. So you would not be locked out of making transactions, if needed, if the USA passes carbon footprint ESG legislation. I’m not saying you should go out and be reckless and pollute the world and not give a darn about your emissions. I’m just saying that some months you might have a greater ESG score than normal due to unforeseen circumstances. And on the converse, other months, much less ESG score too. Bitcoin gives you spending flexibility because it is bankless. Yeah for Bitcoin and you! Check out our Bitcoin News YouTube Channel where we make videos weekly on the most recent and interesting Bitcoin news that will affect your life. Subscribe today!