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Klarna teams up with Doconomy to provide 90 million consumers with carbon footprint insights

Press release -

Klarna teams up with Doconomy to provide 90 million consumers with carbon footprint insights

  • Klarna and Doconomy activate one of the largest impact awareness building efforts to date.
  • Up to 90 million Klarna users can track their shopping carbon footprint in-app.
  • Ambition to educate all users around impact transparency at the core of consumption.
  • As principal partners, Doconomy and Mastercard developed a Carbon Calculator integrated into Mastercard’s network as a global standard and enabled for banks worldwide.

  • Stockholm, 20 April

    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 a network of more than 90 million consumers and 250,000 retailers, Klarna’s reach adds to the Åland 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.

    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.

    * All 90 million consumers will have access to this information through the Klarna app. The app today includes 18 million monthly active app users.

    Watch interview with Sebastian Siemiatkowski, CEO of Klarna, and Mathias Wikström, CEO of Doconomy here.

    Masse Benesch, Head of Communications
    masse.benesch@doconomy.com +46 733 14 14 34


    ABOUT DOCONOMY
    Doconomy, founded in Sweden 2018, provides digital solutions to help track and measure the carbon footprint. Doconomy’s service, DO, a mobile banking app, manages savings and promotes sustainable consumption. The Åland Index impact calculations in DO use data covering 99% of global market cap through a unique partnership with Trucost, a part of S&P Global, and is live with banks reaching over 250 million users. Through Doconomy’s collaboration with the United Nations Climate Change Secretariat (UNFCCC) to educate and engage individuals around climate action, additional innovative tools are also developed. Doconomy utilizes innovation, data, and design to support consumer change of behavior by enabling well informed choices, which in turn, promote responsible consumption. The 2030 Calculator is such an innovation, to increase transparency and responsibility on the product level.

    ABOUT KLARNA
    We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna’s offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna’s innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $31 billion. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. For more information, visit klarna.com.

    DISCLAIMER ÅLAND INDEX
    The carbon footprint is calculated using the Åland Index™ which combines the cost of your purchase with the carbon footprint of that particular merchant category. It means that the index can separate between purchases at the florist or the dentist but does not know whether if you bought roses or tulips. The index does not claim to calculate the exact footprint of your lifestyle but will give you a good enough understanding of the carbon emissions of your spending. The Åland Index was launched in 2016 by Ålandsbanken and has been further developed in cooperation with S&P Global Market Intelligence and Trucost. The index is managed and developed by Doconomy in Sweden. S&P Global Market Intelligence is not an affiliate of Ålandsbanken or Doconomy and it disclaims all liability for any claims, losses, or damages in connection with use or application of its material in the Åland Index. The purpose of the Åland Index is to raise awareness around how our lifestyle impacts the climate and promote positive behavioral change however past performance is not an indication or guarantee of future results. The index is reviewed by an independent third party, EY, and updated regularly.

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About Doconomy

Doconomy, founded in Sweden 2018, provide digital solutions to help track and measure the carbon footprint from consumption. Doconomy's service, DO, a mobile banking app, manage savings and promotes sustainable consumption. The Aland Index impact calculations in DO uses data, covering 99% of global market cap, through a unique partnership with Trucost, a part of S&P Global. Through Doconomy’s collaboration with UN Climate Secretariat/UNFCCC, to educate and engage individuals around climate action, additional innovative tools to explain our impact are also developed. Through the awarded innovation Åland Index, the possibility to engage customers in Everyday Climate Action is now rolled out to all banks and corporations in the world, under the concept Åland Index Solutions.

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