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More money and a healthier planet


Spend less and save more than you think. Being more mindful around our spending is necessary not only if we are to achieve important life goals like buying a home and retirement, but being a mindful consumer is also key to a healthy planet. Overspending is the number one reason why Canadians are struggling financially and overconsumption is directly linked to climate change. In other words, financial health and the health of the planet are closely linked.

With Canada now in a state of climate emergency, we want to make it easy for Canadians to make a positive impact while improving their financial health by offering a carbon offset program that is the first of its kind.

Offset one pound of CO2 for every dollar you spend

Much of the impact to the environment comes from our own consumption. Besides being more mindful of our spending, we can help by offsetting the negative impact.

Canada’s 2017 greenhouse gas emissions were approximately 1.58 trillion lb CO2. In the same year, the total Canadian household spending on goods and services was about $4.54 trillion. Research reports show that an estimated 72% of global carbon emissions are caused by household consumption, that suggests that each dollar spent by Canadians could be producing 0.25 lb of CO2. 1

With this in mind, we want to help Canadians participate in everyday climate action in an impactful way. For every dollar you spend on your Mogo Visa* Platinum Prepaid Card, Mogo plans to offset 1 lb of CO2 on your behalf, which is 4 times the estimated household dollar spent to CO2 emissions ratio.2 If all of Canadian household spending is spent using MogoSpend, we could be climate positive and help contribute to offset global carbon emissions.

How will we offset your carbon footprint?

A carbon offset is a reduction in emissions of carbon dioxide or other greenhouse gases made in order to compensate for emissions made elsewhere. Mogo will purchase credits for emission reductions achieved by projects such as wind farms, solar installations, or energy efficiency to reduce your net climate impact. We have partnered with Offsetters, one of Canada’s leading providers of sustainability and carbon-management solutions. Offsetters helps organizations and individuals understand, reduce and offset their environmental impacts and specializes in high quality verified offsets.

Our goal to become carbon neutral

In addition, MogoCards will be made carbon neutral by purchasing additional carbon offsets to neutralize the impact from the card manufacturing process. We are also working on more environmentally-friendly ways to produce our MogoCards. One of our aspirations as a company is to become carbon neutral as we continue to find innovative ways to help reduce and offset our overall impact, while still providing you the best products that help you achieve your financial goals.

Master your spending for good

With MogoSpend, for the first time Canadians will have a way to help them control and reduce their spending while also helping to offset their carbon footprint.3 Spending less and using MogoSpend is not only for your own good, but for the greater good as well. Learn more about other great benefits and features MogoSpend offers to help you reach your financial best while helping the planet.


  • Trademark of Visa International Service Association and used under licence by Peoples Trust Company. Mogo Visa Platinum Prepaid Card is issued by Peoples Trust Company pursuant to licence by Visa Int. and is subject to Terms and Conditions, visit mogo.ca for full details. Your MogoCard balance is not insured by the Canada Deposit Insurance Corporation (CDIC).

1 - In order to approximate the amount of CO2 correlated to each Canadian dollar in household spending, Mogo utilized the following formula: (Total 2017 GHG emissions x 72%) divided by total household spending= 0.25lb CO2 per Canadian dollar (approx.). This formula is based on the following statistics:

Total Canadian 2017 GHG emissions: 716 megatonnes, converted to lbs (x 2200) = approximately 1.579 trillion lbs CO2, source: https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/greenhouse-gas-emissions.html.

72% of global emissions are caused by household consumption, source: https://link.springer.com/chapter/10.1007/978-3-319-20571-7_9

Total Canadian 2017 household spending on goods and services: $4.546 trillion CAD, source: https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid=3610010701#timeframe

2 - Carbon offsetting and carbon neutrality features are currently in development. These features are not currently available for new or existing MogoMembers. Mogo will notify MogoMembers once these features are available to them.

3 - MogoSpend is only available to MogoMembers with an activated MogoCard.

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