Stockholm-Tokyo, September 13, 2022
Japanese consumers will now be able to track and reduce the carbon emissions created by their spending following the launch of a new credit card and impact app based on Doconomy’s data and impact assessment methodology.
The new SAISON CARD Digital for becoz – hereinafter referred to as “becoz card” – and wallet app will help Japanese users understand the composition of their carbon footprint, cut their emissions, and offset what remains. It was developed with Credit Saison – a credit card company with 36 million customers in Japan – and DATAFLUCT, a startup that provides data-enabled solutions to solve business and social issues. becoz is the first card issued in Japan to offer users carbon tracking and offsetting services.
The system estimates the emissions associated with every purchase made on the card using Doconomy’s ÅIand Index, the world’s most advanced transaction impact calculation tool. The wallet app presents users with their monthly total, broken down into key categories like fashion and food. This allows them to understand where more sustainable choices will make the biggest difference, track progress over time, and select an appropriate offsetting package.
To assess the environmental footprint of a transaction, the Åland Index maps it against 1800 Merchant Category Codes and calculates the associated carbon emissions and water use using Doconomy’s world’s leading impact assessment methodology. This draws on investment grade data gathered continuously from companies representing 95 percent of global market cap by Doconomy’s partner S&P Trucost. The Index’s breadth, depth, timeliness and rigor allows Doconomy’s partners to provide customers with more accurate estimates than those drawn from smaller or older data sets.
To develop the becoz package, Doconomy worked closely with DATAFLUCT to tailor the index for Japanese lifestyles, building on the insights gathered from its deployment in 25 other countries. The Åland Index’s data sources and methodology are assured by E&Y to meet the standards required by financial institutions developing best in class climate strategies, products and reporting.