The EcoFirst Card is an environmentally responsible market card where points will be credited or debited depending upon cardholder’s activities related to the environment. The purpose of the card is to provide “guilt-free” pleasures of indulging into pursuits that are taxing on the environment. Some examples of such activities include driving loaded sports cars or mega SUVs, having too many open barbecues (yes, the emissions can pollute air!), and being lead users/disposers of hi-tech gadgets, which eventually end up in landfills in the U.S. or in the junk yards of developing countries where hazardous material is handled unscrupulously due to meager resources. The EcoFirst Card will also reward those individuals who are proactive in reducing emissions of greenhouse gases, and of pollutants that contribute to smog or pollute our waters.
This card will charge a reasonable annual fee to be profitable. The card members can purchase/trade points to “offset” their cool but not so eco-friendly hobbies. Points can also be earned by participating into eco-enhancing activities such as converting one’s vehicle to a bi-fuel hybrid using gasoline in concert with LPG/CNG/electricity or non-fossil fuels, installing energy-efficient appliances at homes, recycling, planting trees, and water conservation, among others.
The members with annual surplus points will be rewarded with cool prizes courtesy of many business partners. Any cash collected from members with negative balance in points will be used to fund ecologically-responsible projects.
While protection of our planet is “priceless”, the EcoFirst Card can be made quite profitable through trading of points, annual fee, and securing strong partnerships with utilities, appliance manufacturers, auto industry, and many high tech companies. Besides EMBA patrons, potential customers could be someone like Governor Schwarzenegger who has an impressive fleet of Hummers but expresses desire to be eco-friendly.
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I like the core of this concept because I think everyone needs to become more responsible for the pollution and waste their lifestyle creates. However I'm not sure it's commercially viable as posed here. I don't really see a value proposition for the subscriber other than paying a sin tax. If this were coupled with buying actually carbon off-sets for example, and other value added services were applied, the idea would be more viable.