Mastercard partners fintech startup to combat climate change

Mastercard clients will be able to track their carbon impact according to the purchases

Doconomy and Mastercard

Mastercard partners fintech startup to combat climate change. Source: pixabay.com

Doconomy and Mastercard extended their joint effort to combat climate change. The new arrangement brings the ability for any Mastercard issuer to offer their cardholder the ability to track and understand their carbon footprint based on purchases made. The first bank in the US and Nordea announced to join The Bank of Åland in allowing clients to discover and measure their CO2 footprint through the Åland Index.

As a part of the collaboration, Mastercard invested in Doconomy for the further expansion of the tracking. What is more, it will offset the platform to additional markets.

The Åland Index is a cloud-based software service, allowing to track the CO2 emission of each transaction. It connects every transaction category and how it affects the planet.  Clients can receive an independent benchmark climate index based upon leading financial data.

We all have a responsibility to contribute to the solutions for the climate emergency we are experiencing. Time is running out. Many individuals are willing to do their part, but in many cases they find it difficult as they don’t know what else they can do. Through our collaboration with Doconomy, we hope to provide clear, effective channels to support these individual’s daily climate action
Niclas Svenningsen, manager, Global Climate Action, UN Climate Change Secretariat

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