Klarna, a global retail bank, payments, and shopping service has announced a series of initiatives dedicated to supporting the planet’s health. During this year’s Earth Week, Klarna pledges to match all consumer donations made towards its planet health initiatives, as well as upgrade its CO2 emissions tracker to allow consumers to gain even more granular insights into their environmental footprint.
Klarna is also expanding its shoppable Conscious Collections in the Klarna App to bring greater awareness to environmentally and ethically friendly apparel to all consumers.
Matching donations towards planet health initiatives
Since the launch of Give One, Klarna’s planet health initiative, the company has allocated $9million to locally rooted organisations protecting nature and fighting climate change. The funding has been distributed to 9 organisations in order to scale their impact. Among these are UK-based Buglife, a non-profit combating the loss of pollinating insects like bees and butterflies, and Accion Andina, a large-scale effort to protect and restore one million hectares of Andean forest ecosystems.
The selection of organisations has been guided by the Give One impact framework together with Milkywire, which prioritises initiatives that bring benefits to climate, biodiversity and local communities. During Earth Week, Klarna consumers can donate to four-planet health causes – wildlife, ocean, planet and forest in the Klarna App, and Klarna will match the consumer donations made during Earth Week.
Enabling consumers to make more sustainable choices
Klarna is introducing enhancements to its popular CO2 emissions tracker globally. In addition to showcasing the estimated carbon footprint of each purchase in the Klarna App, the tracker now provides consumers, shopping fashion products, with a rich breakdown of the emissions released along every step of the product lifecycle and offers educational tips to help consumers use and recycle the purchased products in a more sustainable way.
The CO2 emissions tracker additionally offers consumers the opportunity to donate to the Klarna and Milkywire Climate Transformation Fund, focusing on supporting high-impact solutions to mitigate climate change. All donations to the Climate Transformation Fund will be doubled by Klarna during Earth Week. Among the innovators receiving funds are Heirloom, on a mission to develop novel direct air capture technology to extract CO₂ directly from the ambient air using common minerals and store it underground, and Husk, creating biochar, a form of charcoal that is produced from rice husks, that is then used as fertilizer by organic farmers, restoring soil health and increasing yields.
As a further initiative, Klarna will release a new shoppable Conscious Collection “the Earth Day Edit,” building on its recently launched partnership with Good On You, the world’s leading sustainability rating platform for fashion brands. Curated specially for Earth Week, the collection features products from brands that excel resource use and waste management, and their policies to address energy use and carbon emissions, impacts on water, microfibre pollution and chemical use and disposal.
David Sandström, Chief Marketing Officer at Klarna: “Our vision is to empower consumers to vote with their wallets to enact change. With the help of our enhanced CO2 Emissions Tracker, consumers can now gain detailed insights into the environmental impact of their shopping. Combined with our donation features and Conscious Collections, we’re excited to give consumers powerful tools to act on this knowledge and inform their shopping choices”.