Before the turn of the new year, many are wishing that they could do something about the environment. Now, a UK startup hopes to make our environmental impact more personal.
Yayzy Has now launched an iOS app (but Android is coming) that links to your bank account to work out the environmental impact you buy. It uses payment data through Open Banking Standards, to calculate the carbon footprint of each purchase made by each user, giving them a picture of their total monthly carbon emissions. This makes the carbon footprint calculated more accurate and bespoke for the individual, allowing them to immediately relate their spending to its impact on the planet.
Yayzy has received £ 900,000 in support from Antler Venture Capital, Seeders (A crowdfunding round) and the Corengels Impact Fund. As the user sees what the carbon footprint is of their purchase, they can choose to offset it correctly and on the app via the carbon transmitter. Ecosphere plus. In the app, users can also find tips to reduce their carbon footprint, insights into the environmentally friendly retailers near them or lifestyle choices that have the most environmental impact.
But Yayzy is adopting a different approach. It brings together all the user’s expenses and shows them item by item as they spend, what is the carbon footprint of that expense. So far – it claims – its competitors do not.
This can be done by signing an ad hoc, item by item, monthly subscription for either carbon offsetting projects or the user’s own climate portfolio. This portfolio will bundle multiple projects together for a ‘holistic’ effect. Yazi states that all these projects have been carefully selected based on strict criteria, and also carry forward the sustainable development goals of the United Nations.
For its underlying carbon data, Yayzy is using the critical matrix https://www.vitalmetricsgroup.com/
Is used by Google, Microsoft and both the UK and US governments, among others.
Yazi cofounder and CEO Manakaran Ahluwalia said in a statement, “While emissions have slowly eased lockdown, YAYZY wants to put all of us on the driver’s seat to control our own environmental impact. It is clear from the pile of surveys that many people want to address climate change before it is too late, but it blocks a much larger intention / action gap. Our solution with Yayzy is to make the environmental impact ‘up close and personal’ and make it super easy to deal with through your phone. “
Ahluwalia was with Infosys as a technology analyst and created a lending platform for alternative lending. Cofounder Christian Dan, CTO, A discount platform and cofounder Pedro Cabero was first created, CFO Was in equity sales and trading for UBS and Citigroup, And co-founded a leading online pharmacy in Mexico.