Joining Hands With YAYZY For Carbon Neutrality
words by Zine Jemmali
October 9, 2020
We often do not consider the trail of emissions left by our wardrobe items before and after they are in our possession. According to the World Bank, the Fashion industry is responsible for 10% of annual carbon emissions, and will surge more than 50 % by 2030.
As we want to reduce our global impact on the environment through more responsible and conscious behaviours, it can be hard for us as consumers to quantify our impact on the environment.
As Mankaran Ahluwalia, CEO of YAYZY said : “What does not get measured does not get managed.”
YAYZY is a fintech platform for climate action and sustainable living that provides its users with carbon footprint calculations and offsetting possibilities to become carbon positive. It was created in 2019 by Cristian Dan, Mankaran Ahluwalia and Pedro Cabrero during a business accelerator program in London. YAYZY is the result of deep exploration to resolve the climate change crisis using the latest financial and information technologies.
“Largest barrier of sustainability is inconvenience – so that’s why we have created a technology to track and reduce your impact on the environment in an effortless way. We believe in a world where everyone can access their carbon impact and assess their decisions while giving them an opportunity to be 100% carbon neutral.” Pedro Cabrero, CFO of YAYZY.
The platform allows its users to automatically track and offset the carbon footprint of all their purchases in real time. The objective of YAYZY is to facilitate the understanding of people’s impact on the planet through their spendings. Through linking their bank account, users can see the footprint of their purchases in real time. Yayzy not only builds awareness of impact on the planet, but also gives users the opportunity to offset their emissions with the tap of a button, using certified carbon offsetting projects delivering real impact.
The app also provides users with guidance on simple things they can do to make their daily habits more eco-friendly. Through the use of existing ESG data, Yayzy is bringing transparency to the sustainability efforts of retailers so that next time you want to buy your morning coffee, log on to YAYZY and search for eco-friendly cafes near you to reduce your daily footprint and change your behaviour for the better.
YAYZY is supported by the Mayor of London’s London and Partners, London Business School, Dauphine University, UK Governments Global Entrepreneurship program, Santander and Antler. The company raised its pre-seed in 2019 and is crowdfunding its seed round on Seedrs and is overfunding at 290%.
Measuring the impact is the right first step towards managing it. We are happy to be partnering with YAYZY in order to give to our community of users another set of data and insights to manage their wardrobe sustainably.
Soon, SYW community members will be able to use YAYZY’s services through SYW app in order to account for the carbon footprint related to their fashion purchases and activities and will be able to offset it through a selection handpicked of certified projects.