ecolytiq & right. based on science: partnership to bring innovative temperature metrics to banking
Berlin/Frankfurt 11.10.2021 – A new partnership between green banking fintech ecolytiq and climate metrics developer right. based on science is going to bring temperature alignment metrics to bank customers throughout Europe and North America. With this new feature, consumers will be able to clearly understand how their purchasing and investing behaviors relate to the overall heating of the planet. ecolytiq will offer these calculations in conjunction with the CO2 footprinting technologies to inform consumers about the diverse environmental implications of how they use their money.
The proprietary methodology, developed by right. based on science, models on a personal level the degree of global warming that would occur, if every consumer adopted one’s spending behavior. This provides a concrete and direct connection between individual choices and climate change. The historic Paris Agreement set a goal to limit global warming to well below 2°C with the additional aim of staying under 1.5ºC. The recently released IPCC report furthermore highlights the necessity to keep global warming under 1.5ºC, to avoid the most truly catastrophic impacts of climate change.
“To empower banking customers with more comprehensive perspectives, we are excited to integrate right. based on science’s temperature alignment metrics. Preventing a rise above 1.5ºC is a very high priority – and the connection to our daily choices has never been clearer. This cutting-edge technology will only add to the robust sustainable banking & finance technologies offered by ecolytiq, thereby providing state-of-the-art transparency and inspiring climate action,” said CPO and co-founder David Lais.
ecolytiq equips banks with the digital infrastructure and tools they need to engage their customers in sustainability. The API product integrates seamlessly into existing digital banking apps to improve user experience, generate engagement, and encourage climate action. Our Sustainability-as-a-Service® solution analyzes payment transactions to build individualized climate impact calculations and nudge customers towards smart and sustainable spending choices.
Sebastian Müller, co-founder of right. based on science comments: “Making the transition to a future well below 2°C will require an unprecedented joint effort. Companies, capital markets, policy makers and civil society will need to work together towards this goal. Together with ecolytiq, we are providing consumers with the transparency they need to signal the demand for change and to support the transition with every transaction they make.”
The Sustainability-as-a-Service® solution from ecolytiq enables banks, fintech companies and financial service providers to show their customers the individual impact their purchasing behavior is having on the environment in real time. The ecolytiq software calculates personal environmental impacts, such as CO2 values, on the basis of payment transactions. In November 2020, ecolytiq joined the Visa Fintech Partner Connect programme, enabling banks to seamlessly implement their sustainability strategies using payment data. www.ecolytiq.com
Media contact ecolytiq: Yuki Hayashi I ecolytiq GmbH I [email protected]
phone: +49 30 2201232-80
About right. based on science
right. based on science GmbH is a provider of climate metrics and software. Founded in Frankfurt in 2016, right. based on science developed the X-Degree Compatibility (XDC) Model to calculate the impact a company, a portfolio, a building or any other economic entity has on global warming (Temperature Alignment). The results are expressed as a tangible degree Celsius value. The aim: to bring maximum transparency on climate-related risks and opportunities to the market. www.right-basedonscience.de/en
Media contact right. based on science: Hannah Stringham I right. based on science I Email: [email protected]
phone: +49 (0) 175 9259692