cloverleaLatest partnership with ecology To provide financial institutions with the ability to deliver verified carbon credits.
US-based climate technology company Cloverly has partnered with ecolytiq’s Sustainability as a Service solution to give financial institutions a way to measure and evaluate their climate contribution.
Ecolytiq’s solution enables banks, fintech companies and financial service providers to show customers in real time the individual impact of their purchasing behavior on the environment.
Through this partnership, Cloverly will incorporate carbon credits into ecolytiq’s marketplace, primarily as an add-on to commercial and business banking solutions.
Carbon credits are an important tool in the fight against climate change, providing companies with the ability to create short-term impacts while addressing complex and systemic challenges in the longer term.
as mentioned in IPCCof Mitigation of climate change The report published in April 2022, The
To achieve net-zero CO2 or GHG emissions, the deployment of carbon dioxide removal (CDR) to offset hard-to-reduce residual emissions is inevitable. ”
Reflecting the urgency to act, the carbon market is expected to grow to $50 billion by 2030. according to the estimate To McKinsey.
As such, the partnership seeks to help banks increase their participation in the carbon removal ecosystem by offering new digital-first products that make climate action attractive and accessible. .
High-quality credits provide avenues for targeted action to address stubborn emissions while supporting the development of the critical climate technologies needed to combat climate change.
Fundraising continues to be a key driver of scalable action. And because carbon markets remain dynamic, operationalizing participation will help organizations navigate quality and risk considerations. Opportunities to reduce friction in increasing participation are therefore critical to achieving the necessary impact.
“Climate change measures are becoming more and more important for companies” David rice, managing director and co-founder of ecolytiq. “Diverse strategies are needed. So when consumers are educated, they are empowered to take real, individualized actions that matter to them and the planet.”
“With Cloverly, banks using the ecolytiq climate engagement suite will be able to reach the most stubborn part of their footprint with high-quality, traceable carbon credits for their consumers and, more importantly, their business customers.” It will give us the opportunity to work.”
“Facilitating the ability of companies to scale up their climate action benefits everyone,” he adds. Jason Lubottom, CEO of Cloverly. “Partnering with ecolytiq provides solutions that are easy for financial institutions to adopt.