Today, Swedish fintech startup Doconomy, in partnership with Mastercard, announced the launch of its new mobile banking service: DO. The service, which is free and designed for ease of use, helps users track, understand and take steps to reduce their carbon footprint through carbon offsetting.
The DO service helps users guide their everyday purchasing habits towards more sustainable choices, including UN-certified projects. The service also offers guidance to allow investment in funds that have positive environmental and social impact.
“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.
Along with the mobile service, DO users can also sign up for a physical card. Made from recycled pollution (Air Ink) and without a magnetic strip, the biodegradable card is being hailed as the first of its kind.
“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 application is scheduled to launch in April and is currently accepting early applications.