ING is to trial a carbon footprint tracking app from fintech Cogo with 350,000 mobile customers.
The new Footprint Insight feature is being made available to customers who already use the bank’s Insight function, which groups their income and expenditure by spending category.
Footprint Insight provides an estimate of the CO2e emissions of a customer's spending. This is calculated using monthly expenditure per spending category such as 'groceries', 'fixed costs' and 'shopping' and is then multiplied by an emission factor. Customers will also receive tips on managing their carbon impact via push notification and be able to see how their footprint compares with the Dutch national average.
The launch of the pilot, which will be used to gather feedback on customer use of the app, follows a fruitful collaboration by Cogo with ING’s innovation accelerator, as one of this year’s ING Labs Brussels cohort of start-ups, announced in April 2022.
With the impetus from ING, and previous roll outs at NatWest Bank, TSB, CommBank and ANZ among others, Cogo says it is on track to achieve its ambition of having over three million customers using carbon footprint management features by the end of 2022.