Connect Earth has been selected to take part in the Digital Sandbox Sustainability Cohort launched by the Financial Conduct Authority (FCA) and the City of London Corporation as one of only 12 companies.
Connect Earth will contribute to the cohort by testing how the consumer understanding of a product's and company's environmental characteristics can be improved to help them make more sustainable decisions. A key objective of the project is to utilise the tools provided by the Digital Sandbox, such as synthetic data sets, the API marketplace, as well as the collaboration platform, to build a solution that optimises the measurement of a company's and a consumer's carbon footprint based solely on their financial data.
Alexander Lempka, CEO at Connect Earth, says:
"At Connect Earth, we are extremely proud to be a part of this special group of organisations and individuals that unite to make ESG data in finance more transparent, effective, automated, and useable. The access to the Sandbox environment and community will help us immensely in our mission to empower consumers and companies to make more sustainable decisions on a daily basis."
Policy Chair at the City of London Corporation, Catherine McGuinness, said:
“This is hugely exciting news that shows once again why London is a world-leading centre for green finance, with the public and private sectors working together to drive progress. This group of companies will help to create a greener financial sector and aid the transition to net zero by addressing common challenges, including issues such as ESG data and disclosure. I hope their involvement in the Digital Sandbox will be a vital step towards mobilising private capital to deliver a green revolution.”
The Sustainability Cohort will be assessed against 5 success criteria:
About the Digital Sandbox
The City of London Corporation and the Financial Conduct Authority have collaborated on a Digital Sandbox, a novel platform and the first of its kind in Europe. It provides access to features such as synthetic data, an API marketplace, a digital testing environment, and a collaboration platform to support innovation and address challenges in tech development and adoption.
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.