This Spring, the Swedish financial tech company Doconomy launched the first ever banking service and credit card to manage your personal finances and your daily carbon emissions. The DO Black Card is a collaborative effort with Doconomy, Mastercard and the UN Climate Change Secretariat. The card complements users’ existing banking services, but the accompanying app tracks the carbon emissions associated with each DO card purchase and caps the cardholder and the limits they set for themselves.
Not only is the DO Credit Card the first to explicitly track carbon emissions associated with personal finance purchases, the physical card is also made from bio-sourced materials and printed with Air-Ink, a recycled ink made with air pollution particles such as the soot found in chimneys.
In 2015, 175 countries signed onto the United Nation’s Paris Agreement, pledging to cut their carbon emissions. Big companies are also developing policies to reduce emissions, switch to renewable energy or engage in cap and trade programs. Citizens around the world are increasingly aware of the impacts of climate change and are making greener choices in their every day lives, such as reducing their plastic use. However, as Doctonomy mentions, money is our most “powerful tool to tackle climate change in our daily action.” Through the launch of this card, the “banking with a conscience” company set out to reduce unsustainable consumption, cut carbon emissions and compensate for unavoidable emissions.
“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 UN Climate Change executive secretary, Patricia Espinosa.
Cardholders also have the opportunity to donate directly to the United Nation’s certified green projects, such as replacing traditional wood stoves with fuel efficient stoves in Malawi, or building wind farms in India. Card holders also receive credits for making “environmentally-friendly” purchases with participating stores.
Image via Mynewsdesk