Tuesday, July 23, 2019
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Innovative Climate Action – New Credit Card Limits Climate Impact of Users

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 helps limit the climate impact of their spending.

Users will also be invited to compensate for their greenhouse gas emissions, through projects meeting the criteria of United Nations certified green projects.

The projects can range from cleaner-burning cookstoves to wind-generated electricity to clean waste disposal – all projects that contribute to global emission reduction. In marking the team-up of Doconomy and the Secretariat, UN Climate Change Executive Secretary Patricia Espinosa said:

“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.”

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. Ms. Espinosa added: 

“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.” 

Instead of a premium credit card with typical benefits that mostly support further consumption, the DO Black is a radical and innovative tool to protect our planet, the first credit card to limit the climate impact of users, thereby contributing to a more sustainable future. Nathalie Green, Doconomy CEO, said: 

“We all need to come to terms with the urgency of the situation and rapidly move towards more responsible consumption. With DO Black there are no more excuses. 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 original release here.

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