Cogo, an expert in carbon footprint management, is expanding its partnership with NewDay, a prominent financial services provider. Their collaboration aims to enhance the features of the Aqua credit card, a product in NewDay’s portfolio.
The partnership’s core objective is to enable Aqua card users to track the carbon footprint of their purchases, providing them with insights into the environmental impact of their spending. Cogo specializes in estimating CO2 emissions associated with consumer expenditures. Their advanced system categorizes purchases into sections like ‘travel’ and ‘fashion’, allowing them to calculate emissions for each transaction based on factors such as the retailer’s carbon intensity or the sector’s overall carbon impact.
NewDay is known for offering unique financial products like the Aqua card. They previously integrated Cogo’s carbon tracking tool into their digital credit card, Bip, which led to significant success and user engagement.
The integration of the carbon tracking tool with the Aqua card comes after a successful launch with NewDay’s Bip digital credit card in November of the previous year. Usage data indicated strong demand for such features among NewDay’s customers.
Cogo initiated its first banking collaboration in November 2021 and has since partnered with 16 banks globally.
Research has shown that a significant portion of customers looks to their financial service providers for help in lowering their environmental impact, making NewDay’s efforts to provide carbon insights commendable.
By FCCT Editorial Team
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