Payment processing and global retail banking platform Klarna announced on Tuesday the launch of carbon footprint insights for all shopping purchases as part of its 1% pledge, involving the donation of $10 million to initiatives supporting planet health. According to Klarna, the feature will introduce an experience for users to access carbon footprint insights and brings to life awareness-raising efforts on carbon footprints, based on consumer reach. The company has notably partnered with Doconomy to provide shoppers with an average kgCO2 value for each purchase.
“Every purchase made through Klarna’s payment methods will include a carbon footprint powered by Doconomy’s Åland Index, reaching up to 90 million Klarna customers, including its growing user base of 18 million monthly active app users.”
While sharing more details about the feature, Sebastian Siemiatkowski, CEO of Klarna, stated;
“With fat, sugar and salt levels labelled on food we buy, why shouldn’t our CO2 emissions be just as visible? This type of information shouldn’t be a premium or luxury that consumers pay for, but rather an essential part of every shopping journey. That’s why we’re upgrading our app to give all our consumers globally transparent access to their shopping carbon footprint.”
As previously reported, Klarna was founded in 2005 offers products and services to consumers and retailers within payments, social shopping, and personal finances. It enables consumers to make open payments quickly, easily, and securely; immediately, delayed, or in installments. The platform notably works with over 250,000 retailers including in Germany H&M, Spotify, MediaMarkt, Expedia, Nike, and Deutsche Bahn.
The new feature comes less than two months after Klarna raised $1 billion through its equity funding round to accelerate international expansion and further capture global retail growth. Klarna revealed that the round, which subscribed four times the amount it originally sought to raise, included a combination of new and existing investors. The company’s valuation is now $31 billion and it is claiming to be the highest-valued private fintech in Europe and second-highest worldwide.