Karma Wallet Appoints Former Visa Sustainability Chief Douglas Sabo as Strategic Advisor

  • People Moves
  • 10.06.2024 02:35 pm

Karma Wallet, a fintech company and ecosystem enabling sustainable consumer spending, today announced the appointment of Douglas Sabo, former Visa Chief Sustainability Officer (CSO), as a Strategic Advisor to the company. In this role, Sabo will support the company's mission to empower consumers to seamlessly translate their values into impactful shopping choices through the blending of ethical practices with everyday financial choices.

Karma Wallet is building a comprehensive financial ecosystem to democratize consumer access to ethical spending. Through the Karma Wallet Card, a prepaid, reloadable debit card, consumers gain access to exclusive cashback rewards as well as charitable donations triggered by fuel purchases and dining out. Through the Karma Wallet membership community, members gain access to the Karma Collective, a community of mission-driven brands. The Karma Wallet ecosystem also includes the recently-acquired DoneGood marketplace, which has over 140 sustainable and ethical brands and a diverse range of products, as well as social and environmental ratings for more than 18,000 companies. The Karma Wallet ecosystem will be available to consumers, financial institutions and corporate employee benefits programs alike.

"We are thrilled to welcome Doug to our team," said Kedar Karkare, Co-Founder of Karma Wallet. "His leadership in the sustainable living movement combined with his experience at Visa align perfectly with our vision of a future where financial empowerment and sustainable living are one and the same. With his guidance, we will help individuals use their everyday purchasing to drive positive social and environmental change through informed and conscious spending decisions."

Sabo's distinguished career includes a 15-year tenure at Visa, where he led the company's global sustainability and ESG initiatives and served as the payments leader's inaugural Chief Sustainability Officer. Sabo also is a recognized leader and advocate in the sustainable living movement, championing initiatives and progress in areas such as sustainable travel, food, apparel, mobility, e-commerce, home, pet care and more. Sabo's work includes roles with Sustainable Brands, Count Us In, Electrify Expo and the World Economic Forum's Sustainable Tourism Council as well as the daily Seeing Green blog on sustainable living progress. Sabo has been recognized as a Top 100 Chief Sustainability Officer by Sustainability Magazine and one of the 50 Most Influential in ESG by Constellation Research.

"With annual consumer spend on daily purchases counting in the trillions of dollars combined with a rising movement of consumers wanting to live their personal values through their spend, there is an enormous opportunity to help empower consumers to make sustainable choices," said Sabo. "I am excited to support the growing ecosystem of Karma Wallet to make sustainable living more attractive, rewarding and attainable and transition this area from nudges to norms."

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