BERLIN, 31 January 2024 – Approximately 1.28 million*tonnes of CO2e emissions were avoided by consumers who directly used ecolytiq products in 2023, according toanalysis by the climate fintech. This is an increase of 146% compared to 2022,nearly tripling their reach in consumers. That number is equivalent to taking 375,602roundtrip flights between Berlin and Bangkok or the annual emissions of 139,568German citizens.
Founded in March 2020, byentrepreneurs David Lais, FriedrichHubel and Mirko Kämpf to address climate change, ecolytiq has made it itsmission to accelerate sustainability transformation in the banking industry,recognising that financial institutions play a central role in solving theclimate crisis.
Coming off of COP28, it is clear that we are collectively still farfrom reaching our climate goals. Behavioural consumption patterns play a largepart in climate change, and there is a huge gap in transparency on the impactof each purchasing decision. Many of the social cues, norms, and media channelswere designed to support economic growth and are often in direct opposition tothe goals of sustainability.
The financial services industry is a great example where thisdoesn't need to be the case. For many years, sustainable investments haveproven to drive the same if not better financial returns. It underscores that sustainabilitydoes not mean sacrificing economic returns, but rather it's a transformationtowards goals that align our society, environmental and business values.
ecolytiq tackles climatechange primarily through its products for financial institutions, positioningthem to bridge the gap in the transparency of individual environmental impact. Leadingglobal financial institutions including Visa, TSYS, Worldline, Tink, Rabobankand Mashreq are already on board.
“Banks play a significant role in sustainability, particularly byproviding the right products to finance a transition to more climate-consciouslifestyles,” says Lais, ecolytiq co-founder and managing director. “They are inthe prime position to educate on the impact of purchasing decisions and driveaccess to financial tools, such as loans for the energy transition (i.e.:financing a solar roof or heat pump for your home). These initiatives support afuture and lifestyle that is in harmony with our environment, and luckily abrilliant business case for banks.”
ecolytiq’s products have been curated to drive behavioural change in consumption towards a more sustainable future. From expanding its reach through its new bank clients and partnerships to undergoing a comprehensive rebranding, 2023 focused on improving ecolytiq’s products to further maximise impact.
By partnering with strategic players in the fields of sustainable banking and behavioural science, ecolytiq was able to offer financial service providers more options to engage with sustainable banking through:
• Strengthening ecolytiq’s behavioural science-based software and targeting content even more intimately to the psychology of consumer behaviour with The Decision Lab
• Offering high-quality carbon credits with Cloverly
• Offering a one-stop-shop solution for embedded sustainable banking with Tink
ecolytiq is the first to be ISAE 3000 certified for its open-sourced transaction-to-carbon methodology and both retail and SME customer segments. ISAE 3000 is a globally recognised standard for the assurance of non-financial statements, which assessed and certified the transparency, localisation, data integrity, applicability and environmental stewardship of ecolytiq’s methodology.
*Figure based on the number of bank customers who have activated ecolytiq, measuring their engagement factored by the average annual CO2 footprint per individual in their respective country.
The climate engagement platform from ecolytiq guides banks and financial service providers in channelling consumer demand for sustainability into positive impact on both the environment and business growth. The ecolytiq product suite enriches traditional banking with embedded transaction-based footprinting, personalised climate insights, and access to climate-positive financial products. Having partnered with leading financial institutions globally, including Visa, TSYS, Worldline, Tink, Rabobank, and Mashreq, ecolytiq operates globally, including in the UK, EU, US and UAE, to leverage payment data for a better, more sustainable banking experience. www.ecolytiq.com
Media contact ecolytiq: David Lais I ecolytiq GmbH I email@example.com