Karma Wallet Bolsters Leadership with Appointment of Sustainability Expert Douglas Sabo

Monday, June 10, 2024

Karma Wallet, a fintech company focused on promoting sustainable consumer spending, has appointed Douglas Sabo as a Strategic Advisor. Sabo, the former Visa Chief Sustainability Officer, will play a key role in advancing the company’s mission of empowering consumers to align their values with their everyday financial decisions.

Karma Wallet is constructing an all-encompassing financial ecosystem aimed at democratizing ethical spending for consumers. Through the Karma Wallet Card, a prepaid debit card that can be reloaded, users not only gain access to exclusive cashback rewards but also contribute to charitable causes with every fuel purchase or dining experience. Additionally, Karma Wallet members join the Karma Collective, a community of purpose-driven brands. The company’s ecosystem extends further with the inclusion of DoneGood, an acquired marketplace featuring over 140 sustainable brands and a wide array of products, along with social and environmental ratings for over 18,000 companies. This ecosystem will cater 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 impressive career spans 15 years at Visa, during which he spearheaded global sustainability and ESG efforts as the company’s inaugural Chief Sustainability Officer. Beyond Visa, Sabo is a prominent figure in the sustainable living movement, advocating for progress in various areas like sustainable travel, food, apparel, mobility, e-commerce, home, and pet care. He has contributed significantly to organizations such as Sustainable Brands, Count Us In, Electrify Expo, and the World Economic Forum’s Sustainable Tourism Council. Sabo also maintains the “Seeing Green” blog, focusing on sustainable living advancements. His contributions have earned him accolades, including being recognized as a Top 100 Chief Sustainability Officer by Sustainability Magazine and as 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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