FinTech Magazine - May 2023 | Page 37

Rabobank ’ s history of innovation

ACORN
FOUNDED : 2020 HEADQUARTERS : UTRECHT , NL
Acorn is a digital platform that empowers smallholder farmers around the world to access the voluntary carbon market . Acorn supports smallholders to transition to agroforestry – where trees grow among other crops , leading to better soil quality and more sustainable farming . This provides certified , nature-based carbon credits , which Acorn offers to responsible corporates to help them reach their climate goals .
The startup has already enabled more than 100,000 farmers to put their land to good use , covering over 135,000 hectares of land – the equivalent to nearly 14 cities the size of Utrecht . Acorn supports smallholders by monitoring the biomass growth , issuing carbon credits and ensuring that farmers receive 80 % of the € 3.5mn of total revenue generated so far .
CARBON INSIGHTS
FOUNDED : 2021 HEADQUARTERS : UTRECHT , NL
Carbon Insights is a feature within Rabobank ’ s banking app that helps retail clients make more carbon-conscious decisions . In practice , Carbon Insights leverages payment data to give app users insights on their carbon footprint and helps them understand where it comes from . Carbon Insights also gives suggestions on actions customers could take to reduce their footprint .
Initial results show that more than half of users became more aware of their CO2 impact and a substantial number of long-term users have made more sustainable decisions . With this in mind , Rabobank continues to further scale this solution while designing for behavioural change .
fintechmagazine
. com 37