NatWest Empowers Customers to Reduce Climate Impact with Cogo’s Carbon Footprint Tracking Feature on AWS
- 07.02.2023 03:10 pm
Global carbon footprint management fintech, Cogo, today announced that its carbon footprint management software is now listed on AWS Marketplace, a digital catalogue with thousands of software listings from independent software vendors that make it easy to find, test, buy, and deploy software that runs on Amazon Web Services (AWS). The listing will give more than 325,000 active AWS customers around the world access to Cogo’s cloud-based carbon footprint technology that enables individuals and businesses to measure, understand, and reduce their impact on the climate.
Cogo works with 12 banks globally, including NatWest, Westpac, the Commonwealth Bank of Australia, Royal Bank of Scotland, Suncorp, and most recently Kiwibank, to provide carbon emissions data for banking transactions such as spend on electricity and fuel. The Cogo Personal and Business Carbon Manager solutions calculate carbon footprints for both individuals and businesses, and can provide personalised recommendations on ways to lower carbon footprints. Customers can also share their progress, which can help businesses attract and retain customers.
“Carbon footprint integration is fast becoming a strategic priority for businesses, as customers seek ways to make more sustainable buying decisions and reduce their impact on the climate,” said Ben Gleisner, Founder of Cogo. “Cogo makes these insights easy to see so customers can take immediate action. We’re now excited to scale our solution globally by joining AWS Marketplace and making it easily available to AWS customers who share a desire to make a positive impact on our climate.”
“Cogo also increases the sustainability of a bank’s portfolio, assists with compliance around ever-tightening legal requirements including possible climate-related financial disclosure, and comes with significant brand benefits from being a sustainability champion,” adds Gleisner.
“Amazon is committed to building a sustainable business for our customers and the planet, and co-founded The Climate Pledge to reach net-zero carbon emissions by 2040 – 10 years ahead of the Paris Agreement,” said Tiffany Bloomquist, Country Manager, Commercial Sector, AWS New Zealand. “We’re also committed to powering our new AWS Asia Pacific (Auckland) Region with 100% renewable energy at launch. Cogo shares our commitment to sustainability and has developed an innovative way to help the finance sector make more carbon-conscious decisions. We look forward to seeing them grow globally on AWS Marketplace and expand their solutions into new markets.”
The solution in action
In 2021, NatWest contracted Cogo to integrate a carbon footprint tracker via an API into its retail banking app to support the bank’s transition towards a net-zero, climate-resilient and sustainable economy. Agility, security, and low latency were requirements for the carbon footprint tracking feature to process large volumes of data from customer transactions on the mobile app.
“Our customers didn’t understand what their impact was or what actions they could take to support the drive towards net-zero emissions,” explains Rachael Colville-Walker, senior digital product owner at NatWest Group.
As an AWS Partner, Cogo built the API for NatWest on AWS using Amazon API Gateway, AWS Lambda, and Amazon Aurora. The bank had experience with other partners’ solutions on AWS, which gave them confidence in Cogo’s proposed solution. By integrating the feature into its retail banking app via an API, NatWest’s retail customers can track how their spending impacts the climate and receive suggestions on how to reduce their carbon footprint.
“Cogo understands the regulatory environment and our privacy concerns. Solutions built on AWS tick all the security boxes for a financial organisation like ours,” said Colville-Walker.
The bank and Cogo had a tight launch timeline of six months, aiming to introduce the tracking feature before the UN Climate Change Conference of the Parties (COP26) in Glasgow, Scotland, later that year.
“The carbon tracking feature from Cogo is a differentiator for NatWest and clearly demonstrates our commitment to helping the UK achieve net-zero emissions,” added Colville-Walker.