ABN AMRO Ventures invests in Doconomy to engage clients in climate action globally

Announcement

Doconomy a leading player in climate technology that helps banks, brands, and consumers to track, measure, understand and reduce their environmental impact, has teamed up with ABN AMRO to accelerate its goal to help one billion people each cut one tonne of carbon emissions per year.

ABN AMRO Ventures will join existing investors, including CommerzVentures, Ingka Investments, Citi Ventures, Mastercard, and Ålandsbanken. The strategic compilation of investors secures global reach and expertise in banking as well as consumer goods with Ingka Group, operating IKEA retail in 32 markets with hundreds of millions of customers.

Doconomy’s technology is currently active in 33 countries by some of the world’s leading banks and brands to help their customers track the environmental impact of what they buy, promoting more sustainable choices. These now include major financial services firms such as BNP Paribas, Klarna, Nordea, and Standard Chartered. The company’s products already reach over half a billion customers globally and it aims to make its services available in 20 additional markets in 2022. It has pioneered a number of game-changing products Including the Doconomy Impact API, through which companies such as Mastercard can enable their customers to track the environmental footprint of each purchase they make and set themselves Individual carbon budgets. It also developed the 2030 Calculator, a tool that allows brands to quantify the carbon footprint of the products they manufacture using a common universal scoring system, leveling the playing field by giving small, local challenger brands a shared tool for creating awareness and transparency.

At COP26, Doconomy in partnership with the United Nations Climate Change (UNFCCC) launched the Lifestyle Calculator, helping consumers to measure the impact generated by their lifestyle choices In over 120 countries. With the recent launch of the 2.0 version, there is now an opportunity for every brand to take part.

The collaboration accelerates Doconomy’s continued expansion and supports the further development of its Impact Applied portfolio; enabling environmental impact calculations on products, financial transactions, lifestyle, and global companies to inspire further climate action worldwide.

“We are excited and proud to both partner with and invest in Doconomy. As a market leader and a company with a strong positive impact on the environment Doconomy fits well with our ambitious strategy going forward. Both ABN AMRO and Doconomy have great ambitions to shape tomorrow’s language for impact and engage the many. With Doconomy we see a big potential in developing products and solutions to support our clients to track, measure, understand and reduce climate impact as well as direct capital for sustainability efforts.”
Maarten Terlouw, Chief Sustainability Officer, ABN AMRO Group

“Doconomy aims to empower positive change through a much needed shift to greater transparency. Doconomy already enable this at the transaction and product level and, accelerate it through our rapidly expanding partnerships. In addition to the corporate coalition of the climate ambitious who already work with Doconomy, we are thrilled to also have the support of the corporate venture team of ABN AMRO. They see our efforts and recognize both the potential and urgency of our mission.”
Mathias Wikström, co-founder and CEO, Doconomy