Press release

Nordic fintech company Enfuce collaborates with D-mat, AWS and Mastercard to bring personalized carbon footprint monitoring to banks, merchants and retailers worldwide

My Carbon Action uses a validated calculation method to track the CO2e emissions of every purchase, providing consumers with visible insights on the environmental effects of their daily consumption.

Finland’s biggest fintech startup Enfuce has today launched a new service to help consumers tackle climate change. My Carbon Action is a purchase-based tool that calculates individuals’ CO2e emissions based on what they buy and where they choose to shop.

“Our goal is to help consumers become more carbon conscious, which is why we wanted to create a product that gives individuals accurate feedback based on their actual purchase history and lifestyle. Only by bringing individualized and systematic insights can we help consumers make sustainable choices a habit,” Co-Founder Monika Liikamaa explains.

My Carbon Action is a fully-automated digital tool for businesses: the service is offered as a turn-key solution that merchants or financial service providers like banks can integrate into their existing platforms, such as mobile banking applications.

“My Carbon Action allows us to unite consumers with banks, financial service partners, merchants, retailers and other businesses in the fight against climate change. With the help of industry giants like Amazon Web Services (AWS) and Mastercard, we can make a significant impact by bringing our solution to the world,” Liikamaa continues.

Data-based solution takes into account full product lifecycle

My Carbon Action is based on a validated calculation method called Life Cycle Assessment (LCA), which has been developed together with D-mat, a Finnish consultancy experienced in lifestyle carbon and material footprint calculations. The calculation takes into account the environmental impacts of a product’s entire lifecycle from raw-material extraction, manufacturing and transport to use and disposal.

“We are happy to collaborate with Enfuce for this new service. My Carbon Action goes beyond traditional carbon footprint calculators because it provides consumers with direct feedback on the carbon footprint of their purchases. This feedback can help adjust the consumers’ carbon footprint on the basis of their actual consumption,” CEO Dr. Michael Lettenmeier from D-mat says.

Besides providing purchase-based feedback on a daily, weekly, monthly and annual basis, My Carbon Action also gives consumers personalized lifestyle tips based on their personal profile. Insights are provided to consumers in an engaging and easy to use way. The entire system runs on advanced AWS cloud computing infrastructure and also utilises Alexa voice technologies, giving consumers the option to simply ask their Echo device, “Alexa, what’s my carbon footprint this month?” to receive an up to date reading on their personal impact on the climate.

“It has been exciting to watch Enfuce grow using AWS technologies and constantly innovate to delight and surprise their customers with new tools and technologies,” says Guido Bartels, Head of AWS Nordics. “The new My Carbon Action application is a great example of how cloud technology can be used to deliver consumers a service that can make a difference to our planet. At Amazon we recently launched our Climate Pledge, to be 100% powered by renewable energy by 2030 and zero carbon across our business by 2040. Tools like My Carbon Action will help others to also achieve their own climate pledges.”

The ideation around sustainability and the architecture of the solution were developed together with Mastercard in its Lighthouse Development Program which Enfuce won 2018.

“Through the program we have worked closely with Enfuce on the architecture of its CO2 footprint tracking tool, which is based on consumers and corporates transactions. Understanding the sustainability of what we buy is becoming increasingly important to consumers, and at Mastercard we are looking support innovation which makes it easier for people to understand their own personal environmental footprint,” says Mats Taraldsson, Head of Digital Business Development and Fintech Engagement at Mastercard.

My Carbon Action will be available for consumers through leading banks and financial service providers next spring. Read more about the sustainability service.

Enfuce

Enfuce offers payment and open banking services to banks, fintechs, financial operators, and merchants. By combining industry expertise, collaborative partnerships and compliance, they are delivering long term and scalable solutions fast and secure. Established in 2016, Enfuce employs over 50 driven professionals in the Nordics and has over 8 million end-users in their platform. www.enfuce.com.

Ilona Kivimäki
Chief Product Owner of Sustainability Services