The new BNP Paribas app will reach customers in the next few weeks. It will also be available for holders of accounts at other banks
BNP Paribas Bank announced a partnership with Swedish fintech Doconomy a few weeks ago, which will result in a carbon footprint counter. However, until now it was unclear when the new tool would be introduced and how customers would be able to use it. This has now been clarified.
As Dariusz Maciołek, managing director of the communication and marketing division at BNP Paribas, told cashless.pl, the bank he represents will launch a new mobile application in the next few weeks through which customers will be able to use the new tool. "Importantly, the application will be available not only to BNP Paribas customers, but also to other banks within open banking," declares Dariusz Maciołek.
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The representative of BNP Paribas does not reveal the name of the application at the moment. However, he adds that in the future the carbon footprint meter will also be available directly in GOmobile banking.
As I mentioned above, the carbon footprint meter is being developed by BNP Paribas together with the Swedish fintechem Doconomy. How does it work? First of all, to be able to measure the carbon footprint of your spending, you will need to use your card. Each shop and service point has its own code that determines which industry the payment merchant is in. This allows you to calculate approximately how much carbon dioxide was emitted to produce and deliver the products you just paid for with your card.
As Mathias Wikström, founder and CEO of Doconomy, explains, his company uses data from Standard&Poor's, which he says has the best and most respected analysis in the world in this area. "I would also like to stress that as part of our cooperation with BNP Paribas in Poland we will also make available a water footprint meter, which works on a similar principle as the carbon footprint meter. BNP Paribas Poland will be the first bank in Europe to make this tool available to customers," Mathias Wikström told cashless.pl.
It is worth mentioning that the application for measuring carbon and water footprint from BNP Paribas and Doconomy, during the first use, will propose the user to fill in a questionnaire. The questionnaire will include questions about the user's daily habits, e.g. eating habits. Thanks to this, the carbon and water footprint meter will be more precise, and vegetarians or vegans will have a shorter footprint for their grocery shopping than carnivores (the production of zoonotic food involves several or even several times more greenhouse gas emissions and water consumption than the production of plant food with the same amount of nutrients).