- Klarna’s Sustainable Collections are curated in collaboration with Good On You, the world's leading sustainability rating platform for fashion brands.
- Featuring 23 different clothing brands in the Klarna App, the collections will bring greater awareness to environmentally and ethically friendly apparel to all customers.
- Partnership builds on the commitments Klarna made in 2021, to continue to drive positive change for the planet through insights and awareness.
New York, NY - February 2, 2022 - Klarna, a leading global retail bank, payments, and shopping service, today launched its first set of ongoing shoppable Sustainable Collections in the Klarna App in partnership with Good On You, the world’s leading sustainability rating platform for fashion brands. The collections will bring greater transparency about sustainable apparel to consumers, helping them to discover and make informed shopping decisions with actionable insights.
Today, consumers are increasingly looking for more socially and environmentally friendly apparel. Around 88% of consumers would like brands to help them make more ethical choices, but an overwhelming amount of information makes shopping their values a challenge for many consumers.
Good On You brings together the most reliable sources of information on sustainability and presents it in clear and accessible ratings, empowering consumers to shop mindfully with confidence. Evaluating 500-plus data points, Good On You assesses the most critical social and environmental issues facing the fashion industry today to evaluate a brand’s impact on people, the planet, and animals—rating each brand on a five-point scale ranging from “We Avoid” to “Great.” Read more about Good On You and its brand rating methods here.
The first set of collections feature 23 clothing brands, including Asket, Pangaia, Lucy & Yak, Mara Hoffman, Nudie Jeans and many more. All of the brands included in Klarna’s Sustainable Collections today and in the future will have received top scores from Good On You for their sustainability track records. Shop the collections here.
To inspire consumers across shopping verticals, the Klarna App curates a variety of shoppable collections which can be accessed from the homepage of the app. This includes Klarna’s Sustainable Collections, where users can now tap through to browse and shop the featured products.
The collections follow the launch of Klarna's carbon emissions tracker last year, one of the largest-ever awareness-raising efforts on carbon footprints based on consumer reach, to introduce CO2 data on a worldwide scale and provide shoppers with an average kgCO2 value for each purchase. This year, Klarna plans to expand the tracker to include CO2 emissions at the product level, enabling like-for-like comparisons on specific items. The Sustainable Collections represent a further step by Klarna to provide consumers with insights and shopping inspiration for environmentally and ethically friendly apparel, leveraging Klarna’s vast consumer reach to bring greater awareness to top-rated clothing brands.
David Sandström, Chief Marketing Officer at Klarna: “Our vision is to empower consumers to vote with their wallets to enact change. As a first step, we gave users insights into the environmental impact of their shopping with our CO2 tracker. Now, we are giving consumers powerful tools to act on this knowledge and inform their shopping choices. We are beyond excited to be teaming up with Good On You to curate ongoing Sustainable Collections in the Klarna App. As leaders in sustainability-driven insights, Good On You make for an excellent addition to the Klarna App, helping our consumers discover ethically conscious brands and empowering them to make a real impact.”
Kathy Kearns, Head of Enterprise at Good On You: “The fashion industry urgently needs to make progress to address its impacts on people and the planet. At Good On You, we believe that shoppers have significant power to hold brands accountable, but with pervasive greenwashing, it can be challenging for consumers to see through all the sustainability spin. Klarna shares our vision for making insights about sustainable fashion more accessible to consumers so that they can make more informed purchasing decisions. Today's launch of the Sustainable Collections will help even more consumers around the world better understand the impacts of brands so that they can shop mindfully with confidence.”
Shopping behaviors show that consumers are increasingly seeking out sustainable goods and using their spending power to effect the change they want to see for people and the planet. Global research conducted by the Economist Intelligence Unit shows a 71% rise in the popularity of searches for sustainable goods over the past five years. Klarna’s 2021 reopening report also found that there is a growing demand for ethically sourced products, with 35% of consumers in the US placing sustainability in their top 5 considerations when shopping.
Klarna’s Sustainable Collections are live in the Klarna App today. The first set of collections are available to shop now in the US, Sweden and Germany until the end of April. New sets of Sustainable Collections will be launched throughout the rest of 2022 and will also extend to more regions.
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Good on You
Since 2005 Klarna has been on a mission to revolutionize the retail banking industry. With over 90 million global active users and 2 million transactions per day, Klarna is meeting the changing demands of consumers by helping them save time and money while better managing their cashflow and making informed decisions. Over 250,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna's innovative technology to deliver a seamless shopping experience online and in-store. With over 5,000 employees, Klarna is active in 20 markets and is one of the most highly-valued private fintechs globally, with a valuation of $45.6 billion. For more information, visit Klarna.com
The company became the first fintech to join The Climate Pledge and Race to Zero campaign, and makes annual financial contributions to high-impact climate projects, including carbon removal, reforestation and forest protection, and emission reduction projects.
ABOUT GOOD ON YOU
Good On You is the world’s leading platform for sustainability ratings, starting in fashion. At the heart of what we do is the belief that you have a right to know how brands impact the issues you care about—and it should be as easy as checking a product’s price tag. We make that possible through technology that’s changing the way people shop. Today, millions of consumers use our mobile and web apps to check more than 3,500 brands' ratings. And global companies including Klarna, Microsoft, Farfetch, and YOOX Net-a-Porter use our data to enable more sustainable choices. Good On You is endorsed by leading industry bodies and advocates including Emma Watson.
Good On You Ratings
Good On You exclusively uses publicly available data sources such as brand and parent company reporting, robust third party indices such as the Fashion Transparency Index and CDP Climate Change and Water Security projects, as well as independent certifications, accreditations and a number of other standards based systems.
- Brands rated “Great” are those that demonstrate leadership in all three categories—planet, people and animals. They are typically very transparent and have both strong policies and strong assurance (e.g. from one or more broad-based certifications) to address the most material issues across their supply chain.
- Brands rated “Good” are those that have adopted policies and practices to manage multiple material issues across their supply chain and are often demonstrating leadership in one or more areas.
- Brands rated “It’s a Start” are those that are transparent about their policies and practices to manage some material issues and are making good progress on one or more of them.
- Brands rated “Not Good Enough” are those that disclose some information in one or more areas and consider some of the material issues, but are not yet adequately managing their impacts across their supply chains.
- Brands rated “We Avoid” are those that disclose little to no relevant or concrete information about their sustainability practices. In some cases the brand may make ambiguous claims that are unlikely to have a material impact.