Mastercard and Doconomy Extend Collaboration to Deliver a More Sustainable Future
December 10 2019 - 2:55AM
Business Wire
S&P Global Joins Effort to Power Global
Platform Available to All Issuers
Further Support Provided by Mastercard
Investment in Doconomy
Doconomy and Mastercard today extended their joint effort to
combat climate change. Moving beyond previously announced programs,
this new arrangement brings the ability for any Mastercard issuer
to offer their cardholder the ability to track and understand their
carbon footprint based on purchases made.
Today, the first bank in the U.S. and Nordea in the Nordics
announced they will join The Bank of Åland in enabling clients to
track and measure their CO2 impact through the Åland Index.
"Addressing climate change is bigger than any one company. This
is an important next step to continue progress and move from
promise to action. We've made commitments to manage our own impact
through science-based targets and renewable energy. Now, we’re
helping to accelerate the action our cardholders can take every
day,” said Mark Barnett, divisional president for UK, Ireland,
Nordic and Baltics, Mastercard.
As part of the expanded relationship, Mastercard has made an
equity investment in Doconomy to further scale the expansion of the
carbon tracking and offsetting platform to additional markets.
“We see this as a milestone moment in battling climate change.
As the world comes together for the UN Climate Change Conference
COP25, we’re putting even more power in the hands of people to have
an impact on their – and the planet’s – future," said Nathalie
Green, CEO of Doconomy.
Doconomy uses the Åland Index, a cloud-based software service,
to track the CO2 emission of every transaction. The index connects
each transaction category to its impact on the planet. The
solutions offer a proven, independent benchmark climate index and
is based upon leading financial data. The index has been enhanced
with data through a newly formed partnership with Trucost, a part
of S&P Global.
Doconomy was founded in 2018 and has already received several
awards for their solution as the Grand Prix in Cannes Lion and been
named a partner to the United Nations Framework Convention on
Climate Change (UNFCCC).
“We all have a responsibility to contribute to the solutions for
the climate emergency we are experiencing. Time is running out.
Many individuals are willing to do their part, but in many cases
they find it difficult as they don’t know what else they can do.
Through our collaboration with Doconomy, we hope to provide clear,
effective channels to support these individual’s daily climate
action” said Niclas Svenningsen, manager, Global Climate Action, UN
Climate Change Secretariat.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology
company in the global payments industry. Our global payments
processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries
and territories. Mastercard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MastercardNews, join
the discussion on the Beyond the Transaction Blog and subscribe for
the latest news on the Engagement Bureau.
About Doconomy
Doconomy AB was founded in 2018 and is both a fintech startup as
well as a philosophy about how we as humans can use our money as a
tool for positive change for the climate. Doconomy’s vision is to
enable a sustainable lifestyle for everyone by providing simple
mobile banking services that can change behavior, manage savings
and reward a development towards sustainable consumption. Doconomy
uses the Åland Index developed by Ålandsbanken to track the impact
of every transaction. Follow us on Twitter @doconomy
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Mastercard communications contact: Annika Kristersson +46
703173545 annika.kristersson@mastercard.com
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