The carbon emission limits are taken into consideration through the implementation of a new credit card. Created by Swedish finTech company Doconomy, the plastic "caps the climate impact of users' spending." This is a direct way to counter the effects of climate change, forcing consumers to be more cognizant of the impact of their purchases.
Individuals can view their carbon emission limits by using the DO credit card and tracking spending via the DO app. The mobile application utilizes Åland Index — a high-performing calculation system, that measures CO2 linked to transactions.
Not only does the Doconomy credit card allow for users to be more climate-oriented, but the finTech company also utilizes its platform to make consumers aware of UN-certified climate compensation projects, social good investment funds and more information on carbon emissions.
Carbon Emission-Tracking Credit Cards
Doconomy's Credit Card is Governed by Carbon Emission Limits
Trend Themes
1. Carbon Emission-tracking Credit Cards - Disruptive innovation opportunity: Develop advanced tracking systems and software to measure and limit carbon emissions in financial transactions.
2. Climate-conscious Spending - Disruptive innovation opportunity: Create sustainable and eco-friendly products and services that cater to consumers' growing demand for environmentally responsible purchases.
3. Socially Responsible Investing - Disruptive innovation opportunity: Develop investment platforms and tools that prioritize social good and provide information on sustainable and impactful projects.
Industry Implications
1. Fintech - Disruptive innovation opportunity: Integrate technology and financial services to create innovative products and solutions for socially responsible banking and spending.
2. Sustainability - Disruptive innovation opportunity: Create sustainable business models and practices that address climate change and promote environmental consciousness.
3. Investment and Finance - Disruptive innovation opportunity: Explore new investment opportunities and financial instruments that align with consumers' increasing interest in socially responsible investing.