Swedish impact-tech startup, Doconomy aims to enable customers to choose between products based on their ecological footprint. This was helped by Vacuumlabs, a Slovak technology company that develops fintech solutions for companies worldwide. The 2030 Calculator is a freely available digital tool for companies and consumers to calculate their ecological footprint. The software development kit (SDK) created by Vacuumlabs, integrated into banking or other institutional applications, also provides customers with the opportunity to find out about the amount of CO2 emissions associated with the products they purchase by spending category.
Vacuumlabs has developed software for the Swedish company Doconomy, called 2030 Calculator. Doconomy became known for its so-called DO Black credit card. DO Black is the first credit card in the world that does not monitor available credit, but limits spending by keeping track of the carbon footprint of products purchased by the owner. Doconomy believes that transparency related to the ecological footprint will create new types of loyalty programs and brand preferences. This way, consumers can no longer only compare products on the basis of price and quality, but also take into account their ecological footprint when making a choice, which can cause a long-awaited shift in consumer behavior.
How does 2030 Calculator work?
The 2030 Calculator is an online tool that any brand or manufacturer can use to quickly calculate their products’ carbon footprint. It contains information on emissions of the product or service from its production, through transport, to the moment of sale, completely free of charge. Material, packaging, transportation, or energy consumed in the production process – really everything is considered.
“I believe that what our teams are working on can change the world for the better. At the same time, we can show that even though money still moves the world, we can change the way we use it. That’s why the partnership with Doconomy was a clear choice. The team of our three developers managed to create the 2030 Calculator in three months, and we are working with Doconomy on other products as we speak. We believe that companies with such a clear vision and the intentions to make our world better deserve the best development teams in the world” said Matej Ftáčnik, co-founder of Vacuumlabs.
The ultimate goal is to introduce carbon labeling of products
Doconomy, as a partner of the UNFCCC, introduces this tool as part of its global education program and as a part of the umbrella concept – Planet Loyalty, aimed at introducing carbon labeling of products as a basis for conscious consumer consumption. Doconomy is supported on its journey not only by big brands like Mastercard, but also by governmental organizations.
Patricia Espinosa, Executive Secretary of the United Nations Framework Agreement about climate change, commented on the project:
“I warmly welcome the 2030 Calculator application. I am happy that innovation is responding to climate change. It gives me faith that we can still win this fight. “
With its products, Doconomy responds to the Emission Gap Report, which the UN published in 2018, and recommends reducing carbon dioxide production by 50% to promote sustainability and save the climate. Given that more than 60% of the production of this greenhouse gas is associated with human consumption, Doconomy has decided to create tools that can help every individual to understand and reduce their impact on the carbon footprint and make fully aware and responsible shopping choices.
By launching the 2030 Calculator, Doconomy wants to encourage and invite all companies and organizations to calculate their carbon footprint, share their data and collaborate on creating the most accurate product CO2 emissions calculator available to everyone free of charge.
You can find more information on the collaboration between Vacuumlabs and Doconomy here.You can watch a one minute video demonstrating the operation of the 2030 Calculator here and follow a short calculation of the ecological footprint of three products each of Swedish brands here.
About Vacuumlabs
Vacuumlabs, a trusted global technology partner with a proven track record in successfully delivering full-stack fintech solutions, provides teams of agile, remote by nature, software engineers, and designers with years of experience building fintech, cryptocurrency, online marketplaces, and digital products.Every step of the way, our experts guide our clients, ensuring they can most fast, learn, and iterate. When it comes to world-class product development, we are here to be your guide and partner. From our seven offices, we guide our global clients in their product development needs. Since 2012, our team of engineers has grown to 250, and today we count over 60 clients around the world, from Europe to North America and Asia.
For more information visit vacuumlabs.com
Contact for media
Veronika Gallisova, email: veronika.gallisova@vacuumlabs.com, tel.: +421908845955
