Open banking platform Tink has partnered with Green FinTech Cogo to provide NatWest customers with personalised carbon footprint tracking services.
According to Tink, the solution uses Cogo’s sustainability data and behavioural science and Tink’s money management and data enrichment technology in order to create persoalsied carbon footprints for customers based on their transaction data.
NatWest’s mobile banking app will now enable user to see the carbon emissions associated with their daily spending and provide them with nudges to help them lessen their climate impact. Furthermore, customers will be able to track the impact of their behavioural changes such as cutting down on meat consumption, switching energy suppliers and buying secondhand clothes all through the app.
Tink UK and IE banking lead Tasha Chouhan said, “Most of us recognise that we need to do more to tackle the climate emergency. This has led to renewed pressure on consumers to reduce their daily impact on carbon emissions. But with so many sources, working out your personal carbon footprint is nearly impossible. That’s why people need the tools and the data to inform their decisions and bring clarity to their specific situation.
“We’re proud to partner with Cogo to give people control over their own carbon footprint. Not only will this solution make a positive difference, but it can also help banks to win new climate conscious customers.”
Cogo UK CEO Emma Kisby added, “This is a critical decade for climate action, where we need to work collaboratively to find tools and solutions that can help us all understand and reduce our impact on the planet. We have to focus on delivering scale and impact at pace, which is why we are very proud of what we have delivered through this partnership with Natwest and Tink and look forward to delivering more through collaboration in the future.”
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