- With the index one can calculate the entire climate impact of any payment transaction
- It is based on the most sophisticated methods and databases
- It comes along with further curated content to reduce the personal Climate Footprint
The eco.income Climate Footprint Index is a world-leading index solution to calculate the entire climate impact of the product-service-system behind any categorized payment transaction, for 40+ countries. It takes into account all greenhouse gas (GHG) emissions and not just CO2. It enables retail banks and other financial service providers to strategically innovate beyond banking and offer its customers insightful analytics based on their spending. There is no need for API integration and to share sensitive transaction data. Based on the index the GHG intensities – kg CO2e/currency unit – for any given transaction categorization system can simply be licensed as a data product.
"A fast and massive reduction of GHG emissions is needed to limit global warming 1.5°C. And behavioural change plays a crucial role. We at eco.income are convinced that the financial service industry can provide an essential contribution to fight the climate crisis – by enabling sustainable consumption. To this end we provide the right data."
says Jurij Peters, Co-founder and CEO of eco.income.
The initial development began in 2019 with a master thesis and the goal to develop the most sophisticated method to transform spending into emission data. That was the basis for the calculation model and resulting index. Since then it has been constantly improved and validated, led by Dr. Michael Becker, PhD Physicist, Co-founder & CPO at eco.income. The main method used is Environmentally-extended Multi-regional Input-Output-Analysis. It analyses a country's economy according to economic sectors and product groups. It takes into account all global financial flows and GHG associated with the production and complex global trade of goods and services and finally assigns the climate impact to private household consumption. The main database used is EXIOBASE which is one of the most extensive worldwide, developed by a consortium of several research institutes in projects financed by the European research framework programs.
"One of the biggest assets is the in-depth knowledge of CO2 and GHG emission concepts and calculations. The team is committed to make a tangible positive contribution for the climate change challenge."
says Dr. Christian Russ, advisor of eco.income, researcher and lecturer at Zurich’s ZHAW and former group CIO.
The founders are convinced that integrated measurement of the personal Climate Footprint and easy tracking are the basis and a major pillar. But in order to enable 1.5°C compatible lifestyles and consumption patterns, the second one needs to be about reduction. Thus, the company also provides curated content for further awareness building and guidance. It contains generic climate insights, which e.g. elaborate on the problematic aspects of CO2 compensation, as well as concrete useful tips and their footprint reduction potential. The content can be used in customers’ preferred communication channels such as push-notifications.
For more information
Jurij Peters
Co-founder and CEO
Mobile: +49 179 6812299
Email: jurij@ecoincome.world
eco.income engineering GmbH
Billwerder Neuer Deich 12
20539 Hamburg
Germany
https://www.ecoincome.world
