Climate-focused sustainability as a service solutions provider Aspiration announced the acquisition of Carbon Insights, a climate-tech startup that translates spending behavior and transactions into carbon footprints.
Carbon Insights was founded in 2020 as a Public Benefit Corporation dedicated to turning spending behavior into carbon measurement and action to meet the Paris Climate Agreement’s 1.5 C target. The company’s API-as-a-service solution enables financial institutions to translate financial transactions into environmental impact, creating personal carbon footprint scores, and providing consumer-specific data that details drivers of consumers’ carbon footprints and the best possible action for reduction. The company also recommends verified offset projects to offset the consumer’s remaining footprint.
Andrei Cherny, Aspiration CEO and Co-founder said:
“Aspiration scoured the landscape of new carbon footprinting tools before deciding to make the acquisition of Carbon Insights. Understanding your carbon footprint is the first step in being able to do something about reducing or eliminating it entirely, so we are excited to welcome them onboard to work toward delivering an unparalleled solution for individuals and enterprises to take control of their carbon footprints.”
As part of the agreement, Chad Hunter and Ally Kadel, Carbon Insights Co-Founders, have joined Aspiration and will play a primary role in the integration of Carbon Insights’ environmental impact calculator with AIM. Hunter said:
“Carbon Insights was built with the notion that our actions today will impact the earth and those that inhabit it for years to come. In Aspiration, we saw a synergy in our missions– to give people and companies the tools to make a difference — and a complimentary opportunity to integrate our environmental impact calculator technology with AIM to deliver world-leading carbon footprinting insights.”