GE unveiled a credit card that donates a portion of purchases to buying carbon offsets. The GE Money Earth Rewards Platinum MasterCard works in partnership with the power company AES Corporation and will donate up to one percent of purchases.

The program will retire carbon credits that invest in sustainable projects. GE hopes to reduce up to 10 million metric tons of greenhouse gases each year by 2010 through the program.

You can sign up through MyEarthRewards.com, and the carbon credits will be transferred each year on Earth Day.

Carbon offsets are all the rage, and this gives rabid consumers another option besides accruing frequent flyer miles. Should you feel good about buying stuff that results in carbon emissions if a few bucks goes towards offsetting the damage?

I'm working on a feature article on the subject about the effectiveness of carbon offset programs, so stay tuned.