If follows on from a survey by the banking and insurance company that revealed 95 per cent of Australians did not know they generated carbon emissions or understood the impact.

It also found that although Australians don’t know how much carbon emissions they produced, more than half agreed they have a direct impact on climate change.

Gen Z (born between 1995 and 2010) were the most knowledgeable, but 87 per cent didn’t know how much CO2 they were producing.

The account estimates the carbon emissions of purchases made within the account in the Suncorp app. It is calculated by multiplying the amount spent by the average carbon emissions of that industry.

So, if a consumer bought 30 litres of petrol the app would calculate the C02 emissions from that petrol.

Suncorp said the account could help consumers make decisions around their purchases to reduce their carbon output.

Suncorp Bank chief executive Clive van Horen said this was the first step for the account.

“Next year, more features will be added to our carbon insights account including a customer’s estimated carbon emissions broken down into spend categories and personalised suggestions around how they can manage their carbon footprint,” he said.

The account was developed with input from financial technology company Cogo.