Savings account gets green labelling

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Halifax's Web Saver account has become one of the first products in Europe to be "carbon labelled".

The branding of the Carbon Trust's pilot scheme on the online product means that the savings provider is committed to reducing the carbon emissions caused by the account, with the average footprint calculated at 204 grams a year.

Under the new scheme, Halifax will have to remove the branding on the product if it fails to reduce its emissions within two years.

Speaking about the plans for the savings account, Halifax savings head Mike Regnier said: "With today's launch of our carbon label for Web Saver, we are committed to reducing the product's carbon emissions within two years," he explained.

"We are proud to be working with the Carbon Trust to make that commitment, and believe we are the first bank in Europe to carbon label one its products."

Recent research by Friends Provident suggested that Halifax's new initiative may be popular with the public, as it claimed that many consumers in the UK are planning to become greener in the new year.

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