DO Black is a unique creative use of data to activate and engage both for brand affinity and change of behaviour. About 60% of a person's carbon footprint derives from consumption. Changing consumer behavior can significantly reduce CO2-emissions. DO Black is a radical tool and the first credit card with a CO2-emission limit, stopping you from overspending, not based on available funds but on the impact by your consumption. The consumer journey includes three the ability to measure the impact of every transaction (Åland Index), the set CO2-emission limit calculated per country/capita, and a CO2-emission limit overriding accounts credit level.
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 / data solution (20% 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.
To create a unique idea with data at core the innovation combines three functions. Adapting the ability to measure the impact of every transaction (Åland Index), the set CO2-emission limit calculated per country/capita, and the payment system integration of CO2-emission limit overriding the accounts financial credit level.
Describe the data driven strategy (30% of vote)
The strategy was to gather data that was undeniable relevant down to an individual level as well as correct on a expert level. The interpretation needed to be executed by leading providers in all fields connected. MasterCard as a user payment transaction data provider. Thomson Reuters and Sustainalytics as financial risk analysis data provider. KPMG as aggregating environmental data per merchant category. The World Bank as independent point of reference for the socioeconomic carbon emission cost. The users data is made actionable by individual targeting of the notifications as well as individual aggregated CO2-level.
Describe the creative use of data, or how the data enhanced the creative output (30% of vote)
How the CO2-limit works to enable creative output:
1. A purchase is made in-store/online using PIN or EMV/Contactless
2. The purchase is processed by the merchant, sent via the Acquirer to Mastercard/MIP and further to the Bank’s Payment Card System.
3. The Payment Card System receives the requests, verifies card, account and PIN, and checks available funds as well as CO2-limit.
4. The Card Transaction Engine calculates the availability of credit as well as CO2 impact through Åland Index.
5. If the purchase exceeds the CO2-emission limit or if there are insufficient funds, the transaction is denied, and the card holder is notified. The Card System returns the response to the Merchant (via Mastercard/Acquirer).
List the data driven results (20% of vote)
Long-term outcome is to increase awareness and contribute to drastic reduction of CO2-emissions from consumption with 50% by 2030.
The CO2-limit innovation is a scalable stand-alone application for change of behaviour, adaptable to different markets, relevant all card/payment solutions. The CO2-limit, although mandatory on DO Black, can be offered as optional function on existing accounts.
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 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”.