Press Release Stockholm, 20 April 2021
Klarna today announces the launch of CO2 insights for all shopping purchases as part of its 1% pledge, involving the donation of $10 million to initiatives supporting planet health. The new feature aims to democratize access to unbiased climate impact information for consumers at no cost or judgement as a first step to help drive awareness around climate change.
The feature will introduce a seamless experience for users to access carbon footprint insights and brings to life one of the largest-ever awareness-raising efforts on carbon footprints, based on consumer reach. Klarna has partnered with Doconomy, a world leader in providing innovative calculation tools enabling banks and brands to display the carbon footprint of transactions, to provide shoppers with an average kgCO2 value for each purchase. The partnership introduces CO2 data at global scale and is made available free of charge in the Klarna app.
Every purchase made through Klarna’s payment methods will include a carbon footprint powered by Doconomy’s Åland Index**, reaching up to 90 million Klarna customers, including its growing user base of 18 million monthly active app users. With many partner retailers working hard to improve in this area through numerous ways, the solution marks a first step in Klarna’s journey to play its part. In the long run, Klarna aims to further enable consumers to understand the true cost of consumption and provide them with the opportunity to take action.
“With fat, sugar and salt levels labelled on food we buy, why shouldn’t our CO2 emissions be just as visible? This type of information shouldn’t be a premium or luxury that consumers pay for, but rather an essential part of every shopping journey. That’s why we’re upgrading our app to give all our consumers globally transparent access to their shopping carbon footprint. We all make decisions that affect the health of the planet and it’s essential that everyone has access to sound information to make smart climate choices in a simple and straightforward way,” says Sebastian Siemiatkowski, CEO of Klarna.
With a global network of more than 90 million consumers and 250,000 retailers, Klarna’s reach represents a unique opportunity to make unbiased climate impact information available globally and help everyday shoppers become informed decision makers.
With Klarna as a fintech frontrunner enabling all users to track, measure and understand their impact by presenting their carbon footprint on every purchase, there is great potential for positive impact! The financial sector has developed tremendous efficiencies to create, aggregate and protect wealth. Now that same force can address the alarming planetary health. Adding a unique data stream to the customer offering is a brilliant step to educate the many
Mathias Wikström, CEO of Doconomy
* * DISCLAIMER ÅLAND INDEX
The carbon footprint is calculated using the Åland Index™ which combines the cost of a purchase with the carbon footprint of that particular merchant category. It means that the index can separate between purchases at the florist or the dentist but does not know whether if one bought roses or tulips. The index does not claim to calculate the exact footprint of a person’s lifestyle but will give a good enough understanding of the carbon emissions of spending. The Åland Index was launched in 2016 by Ålandsbanken and has been further developed in cooperation with S&P Global Market Intelligence and Trucost. The index is managed and developed by Doconomy in Sweden. S&P Global Market Intelligence is not an affiliate of Ålandsbanken or Doconomy and it disclaims all liability for any claims, losses, or damages in connection with use or application of its material in the Åland Index. The purpose of the Åland Index is to raise awareness around how our lifestyle impacts the climate and promote positive behavioral change however past performance is not an indication or guarantee of future results. The index is reviewed by an independent third party, EY, and updated regularly.
