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Doconomy Partners With Parley for the Oceans To Combine Fintech With Eco-Innovation Work

The impact tech company Doconomy, providing banks with carbon and water footprint calculations for every transaction, and Parley for the Oceans, a global environmental organisation with a futurist’s approach to environmentalism, have announced they are entering into a long-term partnership to boost solutions to the interconnected climate and plastic crises. The partners will work together to
quantify the unseen environmental costs of consumption decisions in ways that empower individuals, businesses and governments to align spending with climate action and solutions, focusing initially on carbon, water and plastic.

Delivering to the demands of a new generation of consumers driven by authentic, impactful commitments to environmental responsibility, Doconomy and Parley will provide products and technologies from the Doconomy business portfolio that empower individuals to understand and track their carbon, water and now plastic footprints, developing a new plastic index tool that illustrates the connections between products and marine plastic pollution, and provides an everyday way to support direct impact through Parley initiatives.

With projects in more than 30 countries to date, Parley programs focus on cleanups and plastic interception, education and communication, material science and eco-innovation to end the fast-growing crisis of marine plastic pollution alongside the intertwined threats of climate change and overfishing. The organisation’s approach is led by the three pillars of its Parley AIR Strategy: Avoid, Intercept, and Redesign. Together, Doconomy and Parley will integrate this strategy into Doconomy’s product portfolio and empower individuals and corporations to take responsibility for their impact.

With the shared goal of driving a Material Revolution and creating an economy that works in harmony with ecological ecosystems, the collaboration will focus on harnessing financial formulas and tools that allow a better view into the unseen impacts of consumer spending, empowering individuals to use that knowledge to make more informed decisions and participating in creative solutions to environmental threats. In addition to offering innovative technology and tools measuring hidden carbon, water and plastic costs, Doconomy and Parley will explore the impact of chemicals, minerals, fabrics and other materials that now contribute to the climate crisis and destruction of the oceans and natural ecosystems.

“Parley for the Oceans and Doconomy are like soul mates joined by a strive for a more resilient tomorrow. With the excellent Parley network our reach will be even greater. To us, collaborations like these are crucial to not only engage and educate more people but also, to increase the speed of change. Together we can trigger the efficiencies of the financial system to protect the fragilities of the planet’s ecosystem,” Doconomy founder and CEO Mathias Wikström says.

In addition to the current projects, Doconomy and Parley for the Oceans will identify key areas for extended joint collaboration with consumers, businesses and governments, with the core mission of engaging their networks and adopting eco-innovative technology to educate and empower through creative pathways to solutions.

clean the ocean

“It’s impossible to fight an existential threat you can’t see. We’ve built our economies and societies on faulty  systems that allow us to remain detached from the true impacts of everyday choices on the oceans, climate and all life. At Parley we chose to focus on marine plastic pollution because it’s a threat we can all see and relate to, a material problem interconnected with every major environmental threat. Although plastic waste is tangible, the true scale of the problem and our individual role in it remains incomprehensible. With the support of Doconomy, we will empower decision-makers to own their part of the solutions, with the tools and technology to transform a sense of purpose into measurable progress,” says Cyrill Gutsch, Founder and CEO at Parley for the Oceans

Based on the collaboration and membership model, Doconomy will support the Parley organisation and the “Parley Ocean Plastic Program” which builds on the Parley AIR Strategy to end marine plastic pollution from three angles: Avoid plastic where possible; Intercept plastic debris from marine environments; Redesign materials, methods, mindsets and products. Parley invented the idea of turning marine plastic debris into premium materials used in non-single-use-disposable plastic items, transforming products into Symbols of Change. This drives awareness, eases fundraising and establishes a vital connection between a product and its users, driving material awareness as well as quest for transparency.

When speaking to The Fintech Times, Doconomy’s Executive Creative Director and founder, Jonah Pihl said, “We have been great admirers of Parley for the Oceans’ vision and work for years. At the core, our companies share a mutual purpose in addressing the climate crisis by empowering and inspiring people to take responsibility for their impact, and we are now finally in a position where both companies feel confident to pursue a shared development of services. We are in a very promising place now, where the market is increasingly requesting solutions and platform to meet reduction targets for both individuals and corporations.”

He went on to explain why Parley for the Oceans was chosen above any other climate activists, “Parley for the Oceans are experts and thought leaders on plastic pollution, whereas Doconomy is the market leader in providing environmental impact calculations for financial transactions. Parley for the Oceans has also a strong track record in understanding how to engage users in taking action. It is the merger of Parley’s engagement with Doconomy’s technology that we view as the key strength of this partnership, and the foundation for shared innovation. Furthermore, Doconomy is built on partnerships, and Parley is a company that has attracted some of the best people, with the necessary skillsets and determination to face the climate crisis, which is exactly what is needed to accelerate the shift towards a more sustainable tomorrow.”

Author

  • Francis is a junior journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.

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