Bank of the West BNP Paribas First U.S. Bank to Team with Doconomy To Enable Customers to Track CO2 Impact of Purchases
Announced at UN Climate Change Conference COP25 As Part of Efforts to Raise Awareness and Help Combat Climate Crisis
San Francisco, CA | Dec 10, 2019
Bank of the West BNP Paribas, today announced it is the first U.S. bank to team up with Doconomy to enable its customers to track and measure the CO2 impact of their purchases. Through this relationship, Bank of the West will provide a digital, on demand view of customer's CO2 impact of their purchases. This relationship with Doconomy is in line with BNP Paribas' strategy to accelerate energy transition of its clients and with the Group's existing targets for the financing of renewable energies in order to foster their development.
"Consumers understand their purchasing actions have the power to impact positive change," said Nandita Bakhshi, President and Chief Executive Officer, Bank of the West. "That's why Bank of the West is thrilled to be the first U.S. bank to team up with Doconomy and enable consumers to track the environmental impact of their purchases."
Doconomy provides the Åland Index Solution, a cloud-based software service, to track the CO2 emission of every transaction. The index helps users to understand their impact and reduce their footprint as it connects each transaction category to its impact on the planet. Doconomy's vision is to help achieve a sustainable lifestyle for all and to engage 500 million people globally by 2025 in reducing their carbon footprint and in driving financing and investments towards the urgently needed climate solutions.
"Everyone has a role to play in battling the climate crisis. We are proud to see Bank of the West take action to help customers understand their climate impact and reduce their footprint," said Nathalie Green, CEO, Doconomy. "Bank of the West is one of the only major U.S. banks that has chosen to restrict the financing of activities harmful to the planet, and is also accelerating energy transition and developing renewable energy, making them the ideal partner for our entrance into North America. Together, we're putting even more power in the hands of people to have a positive impact on their – and the planet's – future."
To learn more about Bank of the West's sustainable policies, visit https://changematters.bankofthewest.com/change/.
Find out more about Doconomy at https://doconomy.com .
Doconomy AB, founded in 2018, is a fin-tech startup that aims to provide digital solutions to help use money as a tool for positive climate change. Doconomy's first consumer service, DO, a mobile banking app, helps manage savings and reward development towards sustainable consumption. The Aland Index, developed by partner bank Ålandsbanken, is used for impact calculations. Doconomy invites all banks and financial market participants to engage in global climate action via using the Åland Index Solutions platform of services, covering calculation, integration, communication and activation.
Follow Doconomy on Twitter, Facebook, LinkedIn and Instagram: @doconomy
At Bank of the West, we know money deposited in a bank has the power to finance positive change. So we are taking action to ensure our activities help protect the planet, improve people's lives, and strengthen communities. We are redefining banking for a better future by focusing on areas where we believe we can have a real impact: supporting energy transition, helping enable women entrepreneurs, and financing innovative start-ups. As the bank for a changing world, Bank of the West is committed to sustainable finance along with our parent company BNP Paribas. Through Digital Channels and offices across the U.S., Bank of the West provides financial tools and resources to more than 2 million individuals, families and businesses.
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