Yayzy, a UK startup, has launched an iOS app that links to the user’s bank account, to work out the environmental impact of their spending. It uses payment data via Open Banking standards to automatically calculate the carbon footprint of each purchase user makes.
Established in 2019, Yayzy aims to offer users the ability to 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.
Mankaran Ahluwalia, co-founder and CEO of Yayzy, said COVID-19 lockdown gave them 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,” he said. “It is clear from a plethora of surveys that the majority of people want to address climate change before it is too late, but that a huge intention or action gap blocks much of it. Our solution with Yayzy is to make enviromental impact “up close and personal” and the action to tackle it super easy, all via your phone.”
Ahluwalia highlighted the app uses payment data via Open Banking standards to automatically calculate the carbon footprint of each purchase a user makes, giving them a picture of their total monthly carbon emissions.
Users can also find tips to reduce their carbon footprint, eco-friendly retailers near them or insights into lifestyle choices that have the highest environmental impact. The app also gives users the option of offsetting their carbon footprint through Ecosphere Plus or finding nearby eco-friendly retailers.