New Credit Card Limits Spending Based on Carbon Emissions
By Mandy Froelich / Truth Theory
Most people are aware that they need to shop more mindfully. However, it seems only the minority do. This will hopefully change with the DO Black credit card, launched by the Swedish fintech company Doconomy. The credit card limits users’ spending based on the climate impact of their daily purchases.
As DeZeen reports, the DO Black credit card directly connects consumption to the impact it has on the planet. Users can rely on the card to make daily purchases and with the DO app, can also track the carbon emissions associated with the spending.
The DO app uses a calculation system called the Åland Index to measure the CO2 produced with every transaction. Each user sets their own limit on the climate impact of their spending.
Each cardholder receives access to a free savings account. In addition to helping them understand their carbon footprint, the account helps users learn about UN-certified climate compensation projects and discover investment funds that could positively benefit the planet.
Even the card itself is Eco-friendly. It is made from bio-sourced material and is printed with Air Ink — an ink made from recycled air pollution particles, or the unburned carbon soot that comes out of car exhaust and chimneys.
Those who regularly use their cards will be rewarded financially. DO owners will receive refunds (also known as “DO credits”) from connected stores. The reward will be determined by the carbon impact of their purchases. Refunds can then be directed to UN-certified carbon-offset projects, or invested in sustainable funds.
“We all need to come to terms with the urgency of the situation and rapidly move towards more responsible consumption,” said Doconomy CEO Nathalie Green. “With DO Black there are no more excuses.”
“Through our collaboration with the UN Climate Change Secretariat and Mastercard, DO will enable people to do their part to contribute to the carbon-reduction goals of 2030 and onwards,” added Green.
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IMAGE CREDIT: Dezeen