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 Aland 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.