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Giesecke+Devrient Partners With Doconomy For Climate Protection
Doconomy offers banks a digital service, empowering consumers to track their individual environmental impact, i.e. to measure their carbon footprint.
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The global security technology group Giesecke+Devrient (G+D) and the Swedish fintech start-up Doconomy are joining forces to enhance payment solutions with digital sustainability-oriented tools. Their aim is to enable all of us to take personal responsibility for the planet.
G+D is committed to protecting the planet for future generations and at the end of 2020, became one of 24 German companies to participate in the United Nations’ Sustainable Development Goals Ambition Initiative. Beyond pursuing its own climate goal of reducing direct and indirect CO2 emissions by 25 percent by 2022, G+D also supports its customers and end-consumers in achieving their sustainability goals.
By offering payment cards out of sustainable materials such as plastics pulled from oceans or bioplastics, G+D promotes eco-innovation in payment solutions that help banks and fintechs to implement their sustainability strategies. However, that eco-friendly approach is not limited to the use of eco-materials for card manufacturing, but spans the entire lifecycle of a payment card: from production and personalisation to delivery to users and the activation process and all the way to recycling the card.
To complement this eco-conscious offering, G+D has now entered into a strategic partnership with Doconomy. For the start-up, the 2030 Agenda and the Sustainable Development Goals are among its central strategy components. Doconomy develops tools that help banks engage in this agenda and contribute to limiting global warming to 1.5 degrees Celsius.
Doconomy offers banks a digital service, empowering consumers to track their individual environmental impact, i.e. to measure their carbon footprint. The calculation is based on the purchases, orders and bookings made by the card holder – be it groceries at the supermarket or air travel –, and relies on the Åland Index: a cloud-based service and the leading index solution for CO2 emission calculations for payments and financial transactions. Consumers are thus supported in reducing negative impacts through behavioural changes. In addition, Doconomy offers carbon footprint offsetting solutions; in Sweden for now, but with international options being developed.
By jointly offering green cards and digital solutions to track consumers' carbon footprint, G+D and Doconomy will address banks and fintechs that have ambitious environmental goals and a strong focus on eco-innovation. The joint offering will furthermore enable banks to build strong brand loyalty through sustainable solutions and a visible commitment to climate protection. Younger generations pay particular attention to products and services that are driven by an environmentally friendly agenda.
If a financial institution wants to live up to its social responsibility and encourage its customers to adopt a greener lifestyle, G+D's eco-innovative payment solutions and Doconomy's services will make a difference for the planet and future generations.
"G+D's commitment to environmental protection and its strong presence in the banking market worldwide makes the company an ideal partner for Doconomy. We look forward to working together with G+D. Our aim is to increase environmental and climate awareness and reduce the carbon footprint of consumers. This will bring us a significant step closer to our goal of helping 500 million people reduce their CO2 emissions by an average of two tonnes by 2025," says Mathias Wikström, CEO of Doconomy.
"Consumers are looking for new ways to live a sustainable lifestyle. That is why we support banks with eco-innovative payment cards and digital solutions," emphasises Dr Carsten Wengel, Global Head of Sales & Distribution for Smart Card and Digital Payments Security at G+D. "Whenever consumers see our eco-innovative card in their wallet, or the CO2-tracker supported by Doconomy, it becomes a permanent reminder of their own and their bank's commitment to protecting the planet."