Fintech Klarna Introduces Tools For Shopping Consciously, Focusing on Climate Action

Klarna, the AI powered global payments network and shopping destination, unveiled new tools enabling consumers to make more informed purchasing decisions and take action for the planet, “including a top-up donations feature and expanded CO₂e emissions tracking insights within the Home & Gardens and Jewelry & Accessories categories.”

With 150 million consumers worldwide, Klarna continues “to shape the future of shopping, evolving beyond payments to become the go-to starting point for every purchase.”

With these new products, Klarna says it “supports smart shopping with an emphasis on environmental impact.”

Sara Davidson, Sustainability Marketing and Communications Lead, Klarna, said:

“We are proud of these new tools that go beyond merely providing information about the environmental impact of purchases. Klarna’s CO₂e tracker now provides even more knowledge to help consumers make informed purchasing decisions, with insight into the emissions set free for nearly 93 million products, while the top-up donations feature enables individuals to act and support non-profit organizations more easily. We recognize the power of Klarna’s growing network of 150 million consumers, which comes with a responsibility to leverage our platform for good. Our aim is to empower individuals to align their purchases with their values, catalyzing progress for a brighter future for our planet.”

A new top-up donations feature

Charitable giving is top of mind for many consumers, “with almost 60% of all American households reportedly participating in some kind of charitable giving.”

However, giving to climate change mitigation “continues to represent less than 2% of global philanthropic giving.”

With the introduction of Klarna’s new top-up donations feature, consumers can “add a $1 donation to purchases made using Klarna’s interest-free Pay in 4 service at integrated retail partners both online and in the Klarna app, including Sephora, Nike, and more.”

Powered by the charitable fundraising platform Milkywire, donations “will be captured as part of the down-payment (or first installment), and will go to the WRLD Foundation to support organizations working to implement UN Sustainable Development goals, with a focus on climate, people and biodiversity.”

Nina Siemiatkowski, Founder and CEO, Milkywire, said:

“We are thrilled to expand our partnership with Klarna, supporting the launch of their top-up donations feature. Klarna shares our vision to change the way we give, and through innovative products like the top-up feature, we’re removing the barriers to giving, bringing us closer to breaking through the 2% climate funding barrier. When all of us come together, we can make a real impact when it comes to solving the planetary crisis.”

The top-up donations feature is now “available in the US with plans to go live in other markets in the future, and is the latest product released as part of Klarna’s Give One planet health initiative.”

Consumers around the world can also “donate to Give One through the donations feature in the Klarna App, which launched in June 2022 and allows users to make donations to charity causes instantly or via scheduled regular donations.”

Klarna’s donations feature is currently “available in the United States, the United Kingdom, Sweden, Norway, the Netherlands, Germany and Austria.”

Updated CO₂e tracker with expanded category insights

Shoppers are increasingly “considering environmental impact throughout the shopping experience, and are looking for information to help guide their purchase decisions.”

According to Klarna’s 2023 Shopping Pulse, “over half (57%) of global shoppers are also looking for ways to track their carbon footprint while shopping online.”

Addressing this demand, Klarna’s has now “upgraded CO₂e tracker now includes insights into the environmental impact of products within the Home & Garden and Jewelry & Accessories categories, with data powered by carbon tracking platform Vaayu.”

The tracker now “offers Klarna shoppers granular carbon footprinting for an additional 1.4 million products across these two additional categories, increasing access to emissions data for shoppers and pioneering visibility of emissions data at an unprecedented scale.”

Together, Klarna and Vaayu have “created the largest consistently derived cradle-to-grave life cycle assessment dataset using good practice LCA activity-based methodology.”

For more details, check here.

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