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Swedish fintech startup devises credit card for sustainability

Doconomy’s DO Black card is the first credit card to stop the card owner from overspending to a level that poses potential harm to the planet. Unlike other credit cards, the limitation does not relate to the user’s available funds. Instead the restrictions apply to the levels of carbon dioxide emissions caused by the card owner’s likely consumption.

The aim is for the DO Black credit card is to act as a tool to ensure the understanding and reduction of each card owner’s impact on the planet, and the scheme is supported by the United Nations.

For users who remain within the card’s carbon spending limits, there are financial incentives called ‘DO credits’, which can be used as a digital payment at connected stores. The card works as part of the MasterCard family.

As well as placing restrictions on card use against certain goods, each time the card is used, card owners will be prompted to compensate for their greenhouse gas emissions. This is via opting to help fund projects meeting the criteria of United Nations certified green projects. Such projects include cleaner-burning cookstoves, wind-generated electricity and clean waste disposal solutions.

Commenting on the concept, UN Climate Change Executive Secretary Patricia Espinosa states: “Many companies are already taking steps to lower their emissions, and to create a more sustainable and resilient future. People are also thinking about the environment in their daily lives, including making more informed decisions about what they buy. That’s why we are pleased to welcome this initiative being undertaken by Doconomy.”

The card itself is also sustainable, manufactured from a bio-sourced material and printed with Air Ink (ink produce from recycled air pollution particles – unburned carbon soot that comes out of car exhaust pipes, chimneys and generators).

Written By

Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news. Tim specializes in science, technology, environmental, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.

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