Sunday, June 16, 2024

Giesecke+Devrient partners with Doconomy for climate protection

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 also 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, banks can be reassured that G+D’s 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 digital 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 consumer – be it groceries at the supermarket or air travel –, and is presented through the Åland Index methodology: a cloud-based service and the leading index solution for CO2 emission calculations for all payments and financial transactions. Consumers are thus supported in reducing negative impacts through behavioural change. In addition, Doconomy offers carbon offsetting solutions as well as carbon footrpint calculations on product level through the 2030 Calculator.

By jointly offering 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 of the two companies 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. Collaboration is at the center of all our efforts and we look forward to working together with G+D. Our aim is to enable everyday climate action and help reduce the carbon footprint of consumers. This will bring us a significant step closer to our goal of helping 1 billion people reduce their CO2 emissions by the end of 2021,” 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.”

People In This Post

Companies In This Post

  1. Doha Bank and Mastercard Announce Long-Term Strategic Partnership to Shape Qatar’s Payments Landscape Read more
  2. eBay Launches Venmo as a Payment Option Read more
  3. CRIF Completes Bond Issue With Another US Institutional Investor Read more
  4. Payzli Announces Strategic Leadership Restructuring to Accelerate Growth Read more
  5. Bank for International Settlements and Bank of Canada launch BIS Toronto Innovation Centre Read more