May 29, 2024

Berlin startup ecolytiq expands into North America with Vancity and Visa 

The local weather tech startup ecolytiq publicizes its North American market entry by securing product launch with Canadian credit score union Vancity

Berlin/Territories of Musqueam, Squamish and Tsleil-Waututh Nations/Vancouver B.C. – The Berlin-based local weather fintech ecolytiq makes the soar throughout the Atlantic because it launches the “Carbon Counter” banking net utility with the Vancouver-based co-op credit score union Vancity. This would be the first product of its sort in Canada.

Alongside the product launch, ecolytiq shall be opening an workplace in Toronto to higher scale local weather motion by monetary establishments. This marks a significant milestone for the Visa Fintech Accomplice Join Programme member, who performed an integral position within the launch of Visa’s Eco Advantages Bundle final yr.

Beginning within the new yr, each Vancity Visa credit score cardholder will be capable of monitor the estimated carbon emissions of their bank card purchases. Members will be capable of see how their month-to-month tally compares to the nationwide common, or which bank card purchases have the very best environmental price. The Carbon Counter will assist Vancity cardholders perceive the carbon footprint of their purchases in addition to present recommendation on what they will do to scale back their emissions footprint.

“We’re breaking new floor right here,” mentioned Ulrich Pietsch, ecolytiq Co-Founder and Managing Director. “We developed a White Label resolution to supply monetary establishments all around the world an agile and efficient manner to offer their clients with instruments to forge a greater tomorrow. With the launch of Carbon Counter, Vancity is solidifying its position as a number one sustainability innovator each in Canada and within the international banking world.”

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Vancity is partnering with Visa and ecolytiq, certainly one of Europe’s main local weather engagement know-how corporations, to offer the primary Visa Carbon Counter in Canada. By mixing local weather consciousness, schooling, and behavioral nudging, the ecolytiq Sustainability-as-a-Service® resolution combines the simplest areas of local weather motion to make sure that monetary establishments have the digital instruments to fight the local weather disaster.

“Modern know-how corporations are important to serving to the world attain net-zero targets and scale back local weather impacts,” mentioned Darryl Gant, Vice President of IT Options at Vancity. “We’ve joined forces with ecolytiq to convey the primary Carbon Counter to Canada as a result of they share our values on local weather and our drive to be a monetary pressure for change.”

Vancity is a values-driven member-owned cooperative the place lots of the members select to financial institution due to the credit score union’s report and ongoing work on the setting. Client analysis* by Visa signifies 70

* Analysis was carried out by Visa Inc. amongst 501 Canadians aged 18 and older, between August and September 2021.

per cent of Canadian customers say sustainability is essential to them, and, importantly, greater than half need to higher perceive their carbon footprint. The Vancity Carbon Counter will enable them to try this.

“We’re proud to help the launch of Vancity’s CO2 calculator, a primary on a Visa card in Canada. This can be a nice instance of how we will empower customers to grasp their environmental affect and honour Visa’s dedication to a sustainable future,” mentioned Stacey Madge, Nation Supervisor & President, Visa Canada.

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Vancity needs to not solely assist its members perceive the affect of their spending on the setting, but in addition present insights into decrease emission choices. Along with offering a snapshot of your “depend,” the Carbon Counter supplies insights on tips on how to scale back your carbon “spending” and ideas for extra sustainable decisions.