Cogni has partnered with sustainability data and analytics company Connect Earth to offer their users unique insights into the carbon impact of their transactions. Cogni is a digital banking platform that is innovating in the lifestyle space by connecting its customers' banking with their lifestyle habits. Cogni can now offer its users access to insights that will help them reduce the climate impact of their spending.
The first rollout of the sustainability insights will give Cogni's customers an instant estimate of the carbon footprint for every transaction that they make which will help users be more mindful of their carbon footprint. Following this, Cogni will empower its customers with the ability to track and review their emissions profiles. Customers will have access to graphs that show a breakdown of where their emissions are coming from as well as a view of how their carbon footprint changes over time.
These new features will empower Cogni's users to understand the carbon footprint associated with their daily spending, providing a much-desired tool to attract the new wave of climate-conscious consumers. Users will be able to see the environmental impact of their purchases in real-time and the analysis feature will put users in a position to actually make meaningful and informed changes to reduce their environmental impact. Timed in accordance with COP26, the UN Climate Change Summit, these releases demonstrate Cogni's commitment to a net-zero society as well as highlighting Cogni's understanding of their target market who are most passionate about the climate crisis.
Cogni's strength lies in its ability to connect merchants to younger consumers who are not as responsive to traditional advertising methods. The partnership with Connect Earth will greatly boost Cogni's appeal to young consumers who are increasingly wary of their personal impacts on the climate. Indeed, a recent survey found that 57% of consumers are willing to change their purchasing habits to help reduce negative impacts to the environment, with the younger generation comprising a large proportion of those keen to reduce their personal environmental impact.
For Connect Earth, this partnership supports its objective of making actionable sustainability data more widely available to consumers that wish to make a more positive impact on the climate.
Archie Ravishankar CEO of Cogni said:
“Growing challenges in global climate require our communities to make changes to the way we consume. Cogni is proud to partner with Connect Earth to empower our large community in evaluating the impact of every purchase. We believe widespread environmental and financial wellness begins with the individual; when users are empowered by data and toolsets, like Connect Earth and Cogni, anything is possible.”
Alex Lempka, CEO of Connect Earth said:
“ Our mission is to democratise sustainability data. It must be accurate, actionable and accessible so it can enable consumers to make decisions, such as swapping a less environmentally-responsible brand for a better one. We are proud to help Cogni add an environmental component to their users' lifestyle decisions."
About Connect Earth:
Founded in 2021, Connect Earth is a London-based environmental data company that democratises easy access to sustainability data. With its carbon tracking API technology, Connect Earth is on a mission to empower people to make sustainable choices and bridge the gap between intent, knowledge and action. Connect Earth supports financial institutions in offering their customers transparent insight into the climate impact of their daily spending and drives sustainable finance.