Moneyhub’s API to Track Environmental Impact of Transactions

Moneyhub, a leading data and payments platform, has introduced the Carbon Counter API, a tool designed to provide real-time insights into the environmental impact of financial transactions. Partnering with carbon measurement companies Connect Earth and Cogo, Moneyhub aims to offer businesses a seamless integration to deliver detailed carbon footprint information to their customers.

The Carbon Counter API leverages Moneyhub’s Open Banking and Open Finance API connections to ensure a cost-effective and smooth integration with existing systems. This tool enables businesses to present their customers with comprehensive data on the carbon footprint of their financial activities, along with personalised insights and guidance to help reduce their environmental impact.

The launch of this API comes at a time when UK consumers are increasingly conscious of their environmental responsibilities. According to the Office for National Statistics (ONS), over 86.5% of adults in Great Britain have made lifestyle changes to address environmental issues. The Carbon Counter API aims to support this growing demand, allowing businesses to assist their customers in lowering carbon emissions.

Kim Jenkins, Managing Director of API at Moneyhub, highlighted the importance of the initiative, stating, “We’re all becoming increasingly aware of our obligation to protect and minimize our impact on the environment. This is a growing priority among consumers, and businesses are in a unique position to influence behaviours across the UK, thereby growing customer loyalty.”

Jenkins acknowledged the challenges businesses face in accessing and analyzing environmental impact data, particularly those dealing with legacy systems. “Using Open Banking and Carbon Analysis, businesses can easily access connections and provide insights to customers, helping them make informed buying decisions and live more sustainably. Our API Recipe enables businesses to meet customer demand and understand the impact of their buying decisions, ultimately benefiting us all.”

The Carbon Counter API is poised to help businesses align with consumer expectations for environmental responsibility, providing a practical tool for promoting sustainable financial behaviours.