A08. Corporate Social Responsibility (CSR) / Corporate Image
DO BLACK - THE CARBON LIMIT CREDIT CARD
RBK COMMUNICATION Stockholm, SWEDEN
RBK COMMUNICATION Stockholm, SWEDEN
HILL+KNOWLTON STRATEGIES Stockholm, SWEDEN
MAKING WAVES Stockholm, SWEDEN
Doconomy is a Swedish fin-tech dedicated to providing tools to reduce and compensate for individual CO2-impact.
When UN released the IPCC report outlining the needed for cuts in CO2 emissions, Doconomy wanted to further reinforce its commitment.
The challenge was to ensure an absolute understanding of the required cuts in CO2 emissions needed to achieve a 50% reduction by 2030 and to position Doconomy with limited resources in a crowded fintech environment, as a unique agent for change.
Working closely with UNFCCC and Mastercard, the first CO2-emission limit linking consumption with its impact was developed, and DO Black, the first carbon limit credit card was introduced.
The objective is to make Doconomy perceived as a tangible solution, resulting in awareness, user adoption and productive new partnerships.
Describe the creative idea (30% of vote)
There’s a definite, data substantiated, emotional driver connected to climate change, but there’s a lack of concrete solutions and tangible tools that engage and activate consumers.
DO Black is a radical new tool against climate change. It’s the first card with a CO2-emission limit, stopping you from overspending, not based on available funds but on the impact caused by your consumption.
The campaign combines three functions, measure the impact, set a CO2-emission limit and a notification of overriding the accounts financial credit level to raise the profile and shape the perception of both Doconomy and what's possible in retail.
Describe the strategy (20% of vote)
The need for tools to tackle the climate crisis is very large and the market fit is substantiated by data; 98% of the Swedes believe we are impacted by climate change. 78% want to mitigate it on a personal level. 70% say habits are an obstacle and 65% would change bank for a climate smart alternative. Sources: Naturvårdsverket, 2018. WWF Survey Climate Change, Earth Hour 2016.
The strategy with DO Black is to accelerate the understanding of your impact, by having it directly halted thus pioneering conscious consumption, and actively engage with other payment providers to do the same. This approach was accelerated by standing on the shoulders of giants like UN, Mastercard and Standard & Poors amongst other for reach beyond our own capabilities.
Describe the execution (20% of vote)
2018, March, tech pre-study with Ålandsbanken
2018, June, Tech dev of first platform
2018, September, negotiations with UN
2018, October, com-launch of Doconomy platform
2019, February, MOU from UN
2019, March, Approval from Mastercard
2019, March, Tech dev IRL CO2 limit
2019, April, Patent registration process
2019, April, Launch of the DO Black innovation
2019, June, Patent filed
2019, November, first bank up start for implementation
List the results (30% of vote)
Long-term outcome is to increase awareness and contribute to drastic reduction of CO2-emissions from consumption with 50% by 2030 and the intention to make Doconomy perceived as a (1) helpful solution, (2) resulting in awareness, (3) user adoption and (4) productive partnerships.
1. “DO Black” is in production with CO2-limit per country/capita calculated.
2. Awareness built with earned media reach of +35 000 000, +40 000 unique visitors and keynotes at sustainability/fintech summits worldwide.
3. All initial targets have been exceeded, with +8 000 user registrations in Sweden alone.
4. +40 banks worldwide and credit card companies have reached out to discuss collaboration. Ms. Espinosa, UNFCCC has a publicly endorsed Doconomy and Mastercard has defined Doconomy as “the future of sustainable payments”.