Companies around the world are purchasing offsets to compensate for their operations’ carbon emissions or working toward zero emissions goals.

For individuals, though, it has been more difficult to accurately calculate the size of personal carbon footprints and know which carbon offset projects or companies could help reduce their own carbon emission responsibility.

New businesses are offering a variety of ways to make carbon offset more accessible on the consumer level, from direct purchases of offsets to free tree-planting through an app.
Fintech companies in the carbon offset market are changing the game, however, providing purchasing and spend transparency as well as personalized insights.

Environmentalism at Our Fingertips

The fintech apps are approaching carbon offsets differently: they connect to the user’s bank, tracks the user’s purchases to generate a complete carbon footprint report, and then enable the user to take recommended actions to become carbon neutral.

Fintech app NetZero shows users their highest emission categories and offers personalized carbon coaching to help improve spending habits when it comes to carbon emissions.

The almost autonomous operation of these apps is one of the benefits that set the fintech solution apart from other carbon offset options.

Why Fintech Works

While other solutions require manual tracking or continuous engagement — for example, visiting an app every day to watch an advertisement in order to plant a tree — fintech apps such as NetZero or Joro simply run in the background and automatically track the user’s spending activity.

It is up-to-date, spend-by-spend and offers real-time feedback about the user’s carbon effect — both positive and otherwise.

Through this model, with low maintenance needs from users and more accessible data from various retailers, there may be a higher adoption rate, leading to a greater contribution to carbon neutrality.

Fintech may be empowering consumers everywhere to take convenient but tangible steps toward carbon neutrality and slowing climate change.