DO Black - the world’s first credit card with a carbon limit30 april 2019 | Stockholm | Av akristersson
Doconomy is now launching the world’s first credit card with a carbon footprint limit, DO Black. The launch of this premium card marks the first milestone in the support that Doconomy provides to the UN Climate Change secretariat (UNFCCC) to encourage global climate action. DO Black not only helps users track and measure CO2 emissions associated with their purchases, but also puts a limit to the climate impact of their spending. Users can now sign-up to register interest for DO Black.
Doconomy, a Swedish fin-tech startup for everyday climate action, has worked with Mastercard to develop this radical tool for consumers wanting to act against climate change. DO also invites the user to offset their carbon foot print through projects meeting the criteria of United Nations certified green projects. Simply put, the first card ever to prevent consumers from exceeding their limit, not based on credit, but on levels of CO2 emissions caused by their consumption.
“We all need to come to terms with the urgency of the situation and rapidly move towards more responsible consumption. With DO Black there is no more excuses. Through our collaboration with UNFCCC and Mastercard, DO will enable people to do their part to contribute to the carbon reduction goals of 2030 and onwards”, says Nathalie Green, CEO at Doconomy.
Urgent need to cut carbon emissions
To meet the goal of the Paris Agreement and avoid an irreversible climate crisis*, global greenhouse gas emissions will need to be cut by half by 2030, and then decline to reach climate neutrality by mid-century. The average citizen in Sweden counts for 10 tons of CO2 emissions with approximately 60 % linked to their consumption**.
“Many companies are already taking steps to lower their emissions, and to create a more sustainable and resilient future. People are also thinking about the environment in their daily lives, including making more informed decisions about what they buy. That’s why we are pleased to welcome this initiative being undertaken by Doconomy,” says Patricia Espinosa, UNFCCC Executive Secretary.
This is where DO, and the innovative Black card, contribute to a more sustainable future. The new card from Doconomy will help users track their climate impact and meet the target of reducing consumption related CO2 with 50 % per person calculated by country. The core purpose of DO Black is to ensure behavioral change, and act as a new, radical and innovative tool to protect the planet.
“We are proud to be part of this bold initiative that aims to reshape the way we consume. For a more sustainable way of life, radical changes are required, and we believe that this initiative with Doconomy and UNFCCC truly has the power to engage consumers and make a difference”, says Erik Gutwasser, Head of Nordics and Baltics, Mastercard.
Engaging consumers to enhance the UN’s work against climate change
The support from Doconomy and Mastercard to the goals promoted by the UN Climate Change Secretariat enhances the work against climate change and can help mitigate the environmental impact of consumption on a global scale, aligning also with the UN Sustainable Development Goals.
“While countries are working to address climate change through the Paris Agreement, it’s clear we need much more ambitious climate action, and we need it now; but, governments cannot solve climate change alone,” says Ms. Espinosa
Read more about DO Black or find out more about how Doconomy fight climate change through responsible consumption and passionate collaboration, at: https://doconomy.com/black
*IPCC Report. https://www.ipcc.ch/2018/10/08/summary-for-policymakers-of-ipcc-special-report-on-global-warming-of-1-5c-approved-by-governments/
**Data for Swedish average according to The Swedish Environmental Protection Agency
About the UNFCCC
With 197 Parties, the United Nations Framework Convention on Climate Change (UNFCCC) has near universal membership and is the parent treaty of the 2015 Paris Climate Change Agreement. The main aim of the Paris Agreement is to keep global average temperature rise this century to well below 2 degrees Celsius and drive efforts to limit the temperature increase even further to 1.5 degrees Celsius above pre-industrial levels. The UNFCCC is also the parent treaty of the 1997 Kyoto Protocol. The ultimate objective of all agreements under the UNFCCC is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system, in a time frame that allows ecosystems to adapt naturally and enables sustainable development.
See also: http://unfccc.int Follow UNFCCC: on Twitter: @UNFCCC| Español: @CMNUCC| | Français: @CCNUCC |on Facebook, LinkedIn and Instagram: @UNFCCC on Youtube: @climateconference
Doconomy AB was founded in 2018 and is both a fin-tech startup which aims to provide digital tools to help use our money as a tool for positive change for the climate. Doconomy's first service DO a mobile banking app, help manage savings and reward a development towards sustainable consumption. The Aland Index, developed by partner bank Ålandsbanken, is used for impact calculations. See also www.doconomy.com. Follow us on Twitter @doconomy
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.
Om Mastercard (NYSE:MA) www.mastercard.se
Mastercard är ett teknologiföretag inom den globala betalningsbranschen. Vår mission är att koppla samman och driva en inkluderande digital ekonomi som gynnar alla, överallt, genom att göra transaktioner säkra, enkla, smarta och tillgängliga. Med säkra data och nätverk, partnerskap och passion hjälper Mastercards innovationer och lösningar individer, banker och finansiella institutioner, myndigheter och företag att nå sina mål. Genom att finnas i mer än 210 länder och platser, bygger vi en hållbar värld som skapar ovärderliga möjligheter för alla.