87% of global brands believe sustainability information about consumer purchases will be a must-have before 2030
NEW YORK–(BUSINESS WIRE)– Clarity AI, the leading sustainability tech platform announces it has partnered with Aspiration, a top global climate finance company, to launch sustainability assessment solutions for consumer use cases. This unique partnership will deliver effective and accessible solutions to consumer platforms (e.g. e-commerce, retail banks, supermarkets, etc.) to help end users measure and reduce their carbon footprint and understand the sustainability performance of merchants by combining Clarity AI’s high-quality, transparent data and tools with Aspiration’s best-in-class carbon removal projects.
How the climate solution works
Customers will be able to assess the sustainability of the brands they buy and their current spending habits based on Clarity AI’s personalized data tracking and AI capabilities – helping them to identify ways to positively change their purchasing patterns.
Clarity AI’s technology will also provide sustainability insights at the individual retailer level. Leveraging its coverage of over 40,000 companies and more than 160 industries (the broadest in the market), Clarity AI calculates the impact of a consumer’s spending and helps them understand company-specific sustainability information rather than broad, industry-level spending trends. It also provides recommendations on how consumers can maximize the impact of their purchases and actions.
Based on this data, Aspiration will offer customers the opportunity to mitigate their carbon footprint by purchasing credits from high-quality, nature-based climate solutions that are rigorously vetted to deliver real, tangible impact that contributes toward the path to net zero.
Aspiration will also offer customers the opportunity to contribute to carbon removal projects with benefits beyond climate impact such as biodiversity improvements and job creation for underrepresented communities. This approach allows users to support projects that align with their values in broader environmental and social dimensions.
High customer demand for carbon data on purchases and mitigation strategies can be met with high-quality carbon credits
During a recent Clarity AI-hosted event for over 900 global brands (including Citigroup, eBay, and Target), companies revealed which sustainability metrics were most important to their customers.
Amongst the food and beverage, fashion, and electronics sectors – which accounted for 65% of responses – carbon emissions were the most critical metric, with 60% of respondents saying that their customers wanted to see this information. Additionally, 87% of attendees believed sustainability information about consumers’ purchases will be a must-have before 2030, with 44% of them believing it will be a must-have by 2025.
This consumer demand for quality sustainability information is increasing in line with the number of tools available to support sustainability projects, including carbon removals – between 2020 and 2021 the carbon market saw year-on-year growth of 164%.
However, rigorous quality control is critical to driving impact. Aspiration implements best-in-class standards when it comes to vetting carbon removal and avoidance projects – on average, less than one in five projects Aspiration reviews through its diligence process make it into its pipeline of approved projects.
This solution from Clarity AI and Aspiration aims to empower customers to understand the impact of their purchasing decisions and the opportunity for them to take effective action.
Rebeca Minguela, Founder & CEO of Clarity AI commented: “We believe that customers need and want to act, and they need data and tools to do so. They need to seamlessly see the carbon footprint of their purchases and trust that information. Then they need to easily offset those and get recommendations on how to maximize their impact going forward. Partnering with Aspiration, we can satisfy all those criteria and help consumers find a path to a more sustainable future.”
Olivia Albrecht, CEO of Aspiration commented: “The best way to transition to a low-carbon economy is for businesses, consumers, and communities to work collectively to achieve climate goals. The solution we’re providing through our collaboration with Clarity AI is all about giving consumers access to climate data and the tools to take action right at their fingertips via their mobile apps.”
About Clarity AI
Clarity AI is a sustainability technology platform that uses machine learning and big data to deliver environmental and social insights to investors, organizations, and consumers. Clarity AI’s capabilities are an essential tool for end-to-end sustainability analysis related to investing, corporate research, benchmarking, consumer e-commerce, and regulatory reporting. As of June 2023, Clarity AI’s platform analyzes more than 70,000 companies, 420,000 funds, 201 countries, and 199 local governments, which represents more breadth than any other player in the market. One way Clarity AI delivers on its mission to bring societal impact to markets is by ensuring its capabilities are delivered directly into clients’ workflows through integrations with partners like BlackRock – Aladdin, Refinitiv an LSEG business, BNP Manaos, CACEIS, and SimCorp. Additionally, Clarity AI’s sustainability insights reach more than 150 million consumers across more than 400,000 merchants. Clarity AI has offices in North America, Europe, and the Middle East, and its client network manages tens of trillions in assets and includes companies like Invesco, Nordea, BlackRock, Santander, Wellington, and BNP Paribas.
Aspiration Partners is a high-impact climate finance company working at scale to help enterprises, consumers, and investors achieve their climate goals. Founded in 2013, the company sources, monitors, and invests in carbon removal projects across the globe to generate high-quality carbon credits. Every project in Aspiration’s portfolio is held to the most rigorous standards, ensuring each drives tangible, positive impact for people and the planet. Aspiration is a certified B Corp, a member of Project Drawdown, 1t.org, Climate Pledge and many other critical industry groups dedicated to accelerating climate action. For more information, visit Aspiration.com or Aspiration.com/business.