Standard Chartered has entered an agreement with Doconomy to build a new digital tool that helps clients track, measure, and manage their impact on carbon emissions and freshwater consumption based on goods and services they have purchased.

The impact will be identified through customer credit and debit card transactions.

The Bank will pilot the capability for clients in Pakistan later this year.

The tool is based on the Åland Index introduced in 2016 to provide financial institutions with carbon footprint calculations for every transaction, which recently added freshwater calculations to its impact presentation.

“Our clients want to make more sustainable choices in all aspects of their lives, from what they consume to how they invest,” said Rosalind Ng, global head, client experience and strategic business enablement at Standard Chartered. “We’re delighted to partner with Doconomy to pilot a new capability for our clients. This capability will help our clients understand their carbon and water impact from their transactions, so that they can make informed choices to contribute to a greener world.”

Mathias Wikström, chief executive of Doconomy, said: “To welcome the fellow change makers of Standard Chartered and be able to work with their team of ambitious minds marks Doconomy’s first step into Asia. Through this collaboration we are excited to combine Standard Chartered’s reach and highly regarded skill sets in both sustainability and user experience with our innovative solutions. Watch this space!”

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