BCG signs partnership with climate technology firm Doconomy

Boston Consulting Group (BCG) has entered into a strategic partnership with Doconomy, a Swedish provider of applied environmental impact solutions. Doconomy offer a series of financial tools that help consumers make financial decisions that are environmentally sustainable.

Doconomy, founded in Sweden in 2018 by Mathias Wikström and Johan Pihl, offers users tools like the ‘Aland Index’, a cloud-based service that calculates the greenhouse gas emissions linked to digital financial transactions.

“Our partnership with Doconomy will be critical as we help financial institutions turn their net-zero commitments into action that drives true impact and societal change. We share a commitment to driving positive change, especially as it relates to climate action, and together we can deliver more value additive solutions to clients,” said Roy Choudhury, a senior partner and managing director at BCG.

Doconomy works with over 90 clients in 35 different markets. The firm has entered partnerships with well-known organizations like the United Nations Framework Convention on Climate Change (UNFCCC), Mastercard, and the World Wildlife Fund (WWF), among others.

“With BCG by our side, we take yet an exciting and important step in expanding the reach of our innovative technology and engagement in climate action globally. Both companies are committed to enable financial institutions to navigate the new normal and be at the very core of the transition we need to see. I’m confident in the rapid positive effects our partnership will create,” said Mathias Wikström, CEO of Doconomy.

A rising star on the Swedish fintech scene for years, Doconomy swept up $17 million in a Series A funding round in 2021. Earlier this year, the firm acquired Stockholm-based engagement banking platform Dreams Technology, which boosted Doconomy’s capabilities related to behavioral economics and sustainable financial choices.

Boston Consulting Group has made several high-profile moves in recent years towards building a reputation rooted in sustainability and a willingness to invest in mitigating climate change. Earlier this year, BCG entered a partnership with CO2 removal service CarbonCapture, which sees BCG purchase carbon credits in order to offset its carbon footprint and move closer to its goal of becoming net-zero by 2030.