As the awareness of climate change is rapidly growing among people. YAYZY, a London-based fintech startup has launched an app, which will help users off-set their carbon emissions using open banking-enabled payments data. Founded in 2019 by Cristian Dan, Pedro Cabrero and Mankaran Ahluwalia, YAYZY’s new app is claimed to revolutionise people’s motivation and ability to help tackle the environmental impact.
Shows carbon footprint of each purchase!
YAYZY helps users know the carbon footprint of their spends by showing them the emissions of each purchase in real-time. Users can immediately connect their spending to the environmental impact they will leave behind on the planet. The app intends to solve the huge gap between intention and action towards realising Net Zero.
The London startup hopes to unleash the good intentions of millions of people who want to play a role in bringing about sustainability. YAYZY combines leading-edge technologies from open banking, carbon tracking and carbon offsetting. As a result, the app shows the carbon footprint to users more accurately than ever before just by taking a quick glance at their phone. What’s more interesting is that they can offset the same with just a tap on a button.
Mankaran Ahluwalia, cofounder and CEO of YAYZY said, “COVID lockdown gave us a rare glimpse of what a low carbon future could look like as NASA satellite images revealed massive drops in carbon pollution and beautiful clear skies. While emissions have gradually risen as lockdown eases, YAYZY wants to put us all in the driver’s seat to control our own environmental impact and collectively work together in a journey to keep carbon emissions below the 2-degree target.”
How does it work?
YAYZY’s app touted to be the ‘Fitbit for Carbon’ is available on Apple App Store and is coming to Android soon. With payment data via Open Banking, this app automatically calculates the carbon footprint of each purchase and gives users a glimpse of their total monthly carbon emissions. Well, if you buy a coffee and get to know the climate change caused by the same via the YAYZY app, then you can just tap on the button on your phone to make up for the same.
The app encourages users to compensate for their emissions via carbon offsetting. This can be done item by item by signing up for a monthly subscription to either carbon offsetting projects or their own unique climate portfolio. The YAYZY’s portfolio has multiple projects together for a more holistic impact, which will remove carbon from the atmosphere. The company has selected these projects carefully selected based on strict criteria.
Furthermore, the app users can find tips to reduce their carbon footprint, eco-friendly retailers near them or insights into lifestyle choices that have the highest environmental impact.