Doconomy Klarna teams up with Doconomy

Klarna starts providing 90 million consumers with carbon footprint insights through Åland Index

Starting on Earth Day, Thursday April 22th, the challenger bank, Klarna, will provide carbon impact calculations on all transactions by all users through the Doconomy service, Åland Index. The new feature aims to educate all consumers around climate impact information as a first step towards driving awareness around the climate crisis. This launch by Klarna is the largest initiative ever taken by a bank in educating its users on the impact of consumption.

The feature introduces a seamless experience to carbon footprint insights and is part of Klarna’s larger effort, including the donation of $10 million to initiatives supporting the planet and an ambitious plan to reduce the company’s own carbon footprint. By 2030, the company aims to reduce all company emissions by 50%. Klarna will also contribute financially each year to high-impact climate projects, including carbon removal, blue carbon initiatives, reforestation and forest protection, and high-impact emission reduction projects. The annual sum will be established through an internal carbon tax set at 100$/tonne for all scope 1, 2 and travel emissions (remaining scope 3 emissions set at 10$/tonne).

Through Doconomy’s principal partnership with Mastercard, a ‘Carbon Calculator’ is also integrated across Mastercard’s global network, and made easy for banks to adopt and customize for eco-conscious consumers.

With Klarna as a user-centric frontrunner enabling all users to track, measure and understand their impact by presenting their carbon footprint on every purchase, there is a true shift!

With a network of more than 90 million consumers and 250,000 retailers, Klarna’s reach adds to the Aland Index’s availability and creates additional opportunities to help everyday shoppers become informed decision makers.

“With Klarna as a user-centric frontrunner enabling all users to track, measure and understand their impact by presenting their carbon footprint on every purchase, there is a true shift! The financial sector has developed a tremendous efficiency. Now that same force can address the planetary fragility. By adding a unique data stream to the customer offering, Klarna is taking a brilliant step to educate users at the very core of consumption,” says Mathias Wikström, CEO of Doconomy.

With fat, sugar and salt levels labelled on food we buy, why shouldn’t our CO2 emissions be just as visible?

The launch marks an important first step. In the long run, Klarna aims to further educate consumers on the true cost of consumption and provide them with the opportunity to take action.
“With fat, sugar and salt levels labelled on food we buy, why shouldn’t our CO2 emissions be just as visible? This type of information shouldn’t be a premium or luxury that consumers pay for, but rather an essential part of every shopping journey. That’s why we’re upgrading our app to give all our consumers globally transparent access to their shopping carbon footprint. We all make decisions that affect the health of the planet and it’s essential that everyone has access to sound information to make smart climate choices in a simple and straightforward way,” says Sebastian Siemiatkowski, CEO of Klarna.

Working in tight collaboration with Mastercard, setting a global standard for carbon calculations on everyday transactions, and other frontrunners like Klarna in banking, Doconomy aims to reach 1 billion users by COP26 in November. Today, they are already accelerating this ambition to engage and educate consumers in everyday climate action through partnerships on leading data from S&P Trucost and climate expertise from UNFCCC.

“What’s really key here is the availability of information. One certainly can’t expect people to change their behaviours and take climate action if they do not know what their climate footprint is or what their consumption represents. With this data now easily accessible thanks to the partners’ excellent work, citizens are empowered to make smart decisions and act responsibly, and it can provoke a significant cultural shift around climate action.”, says Niclas Svenningsen, Manager, Global Climate Action at the UN Climate Change secretariat.

Through Doconomy’s collaboration with the United Nations Climate Change secretariat on climate action, the partners are developing additional innovative tools to explain the impact of our lifestyle choices and engage users.

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