Mastercard brings carbon offsetting to mobile banking app

Source: Mastercard

Doconomy and Mastercard announce their joint effort to combat climate change by enabling DO – a free and easy-to-use mobile banking service that lets users track, understand and reduce their CO2 footprints through carbon offsetting.

The launch of DO sets a new standard for purpose-driven payment services and is a major step in Mastercard’s commitment to drive innovation for a sustainable future.

By implementing DO Mastercard and Doconomy lets users’ values guide their everyday consumption towards more sustainable choices. DO also enables carbon offsetting via UN certified projects. As part of the service DO offers a possibility to invest in funds with a positive impact on people and the planet. This way the solution gives the consumer insights into the environmental effects of their consumptions, paired with tools for creating change by making sustainable choices.

“Together with Doconomy we can engage consumers, retailers and businesses in the fight against climate change. This collaboration is an important part of our focus on sustainability, and this innovative solution offers people a simple way to take responsibility for their carbon footprint, based on what they consume,” commented Mark Barnett, Divisional President of Mastercard UK, Ireland, Nordic and Baltics.

In addition to offering users to make their consumption more sustainable, customers can also apply for the physical, climate-friendly and biodegradable DO Mastercard payment card. The card, which is printed with recycled pollution (Air-Ink) and with no magnetic strip is the first of its kind in the world. The DO card is the most tangible payment service effort on the global SDG 12 scene.

”Via Mastercard’s global network Doconomy can reach and leverage the power of consumers all over the world and direct capital towards sustainable initiatives. For us, there is no partner better suited than Mastercard, given their sense of purpose and leading technical expertise,” says Nathalie Green, CEO at Doconomy.

DO has attracted attention from some of the world’s most prominent actors. The United Nation’s UNFCCC-secretariat wants to explore a collaboration with Doconomy and Mastercard to promote climate action and awareness among citizens and organizations globally.

“DO represents a new and interesting way of bringing climate action directly to the consumer, which is one of our strategic objectives in our work on Global Climate Action.” says Niclas Svenningsen, Manager, Global Climate Action at UNFCCC.

The DO app will become available during April.
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