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Innovative climate action – introducing the first credit card with a carbon spending limit

Press release   •   Apr 30, 2019 09:30 UTC

Swedish fin-tech company Doconomy has launched the first credit card that not only helps users track and measure their CO2 emissions associated with their purchases, but also puts a limit to the climate impact of their spending. Users will also be invited to compensate for the emissions, through projects meeting the criteria of United Nations certified green projects.

The projects can range from cleaner-burning cookstoves, wind-generated electricity to clean waste disposal that will contribute to global emission reduction.

“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 UN Climate Change Executive Secretary Patricia Espinosa, in marking the team-up of Doconomy and the Secretariat.

To meet the goal of the Paris Agreement and avoid an irreversible climate crisis, global emissions will need to be cut by half by 2030, and then decline to reach climate neutrality by mid-century. The UN Climate Change Secretariat is open to partnerships with organizations whose efforts are aligned with this goal.

“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,” said Ms. Espinosa.

Instead of a premium credit card with typical benefits supporting further consumption the DO Black is a radical and innovative tool to protect our planet, the first credit card with a limit to your climate impact that contribute to a more sustainable future.

““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 are no more excuses,” said Doconomy CEO Nathalie Green. “Through our collaboration with the UN Climate Change Secretariat and Mastercard, DO will enable people to do their part to contribute to the carbon reduction goals of 2030 and onwards.”

Read more about how Doconomy fights climate change through responsible consumption and passionate collaboration.

For more information, please contact:

Doconomy: Nathalie Green, CEO, Mobile: +46 70 606 93 05, nathalie.green@doconomy.com

UN Climate Change: Miguel Naranjo Gonzalez, +49 228 815 1921 mnaranjogonzalez@unfccc.int

About UN Climate Change

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

About Doconomy

Doconomy AB, founded in 2018, is a fin-tech startup that aims to provide digital tools to help use money as a tool for positive change for the climate. Doconomy's first service, DO, a mobile banking app, helps manage savings and reward development towards sustainable consumption. The Aland Index, developed by partner bank Ålandsbanken, is used for impact calculations. Follow Doconomy on Twitter @doconomy

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