Mastercard and Nexi launch carbon calculator in Italy

Mastercard and Nexi, Europe's leading PayTech, announce the integration of Mastercard’s carbon calculator with Planet Care, Nexi's new service which encourages users to consider their environmental impact and make more conscious purchases, allowing them to make an active contribution to protecting the planet. The Carbon Calculator was developed by Mastercard, together with Swedish fintech Doconomy, to help inform consumer spending and encourage more climate conscious spending choices.

In response to increasing awareness of environmental issues, Mastercard's carbon calculator, an API integrated with the Nexi Pay platform, allows users to instantly view the amount of CO2 emissions generated by their purchases, organised by spending category, all in an easy-to-use app.

The carbon calculator app estimates the environmental impact of each purchase using a weighted calculation that takes into consideration the amount spent and the spending category. This is updated automatically for each transaction.

Over the next few weeks, the service will be updated with a function allowing Mastercard customers to decide whether to offset some or all of the CO2 produced by a transaction by means of a donation to a Nexi charity partner, helping customers to protect our planet.

“Technological innovation opens up new development opportunities and possibilities, all with cross-sector sustainability in mind.” Says Alberto Ciarcia, Vice President of Account Management at Mastercard. “Mastercard wants to be a leader for positive change: every day we strive to help our partners develop large-scale initiatives that put sustainability at the forefront so they can provide the solutions and tools that allow their customers to make a real difference in their daily lives. We are passionate about this collaboration with Nexi and share their desire to protect our planet. We hope that this first step is an example for many others to follow”.

“This collaboration further reinforces our partnership with Mastercard and allows us to make an important step towards fulfilling our ESG criteria – states Andrea Mencarini, Cards & Digital Payments Director at Nexi – In fact, environmental sustainability is not only a fundamental pillar for growth at Nexi, but also a responsibility we take seriously as a company”.

This project is part of a wider collaboration between Mastercard and Nexi, the first fintech partner in Italy to collaborate on the Mastercard Priceless Planet Coalition: a global coalition of 50 members that aims to protect the environment and fight climate change.

Launched in January 2020, the Priceless Planet Coalition is a platform aimed at uniting corporate sustainability efforts and making significant investments towards protecting the environment. Thanks to the combined dedication of consumers, financial institutions, businesses, retailers and local authorities, Priceless Planet Coalition is committed to fighting climate change and setting up projects such as the carbon calculator that have a real impact on the environment and our communities.