FINANCIAL SERVICES

Fana CEO Robin says the advent of carbon tracking tools not only allows consumers to monitor consumer tracking , but it also integrates “ environmental accountability into everyday transactions ”, prompting a shift to “ conscious consumerism ”.

Carbon offsetting complements this by enabling individuals and corporations to compensate for their carbon emissions by investing in environmental projects . Such projects include reforestation and renewable energy initiatives .

“ Financial institutions are increasingly embedding carbon offset options directly into payment platforms , simplifying the process for users to contribute to climate action with each transaction ,” Robin adds .

However , barriers remain to the widespread adoption of these technologies , as outlined by Shuvo .

These include :

• Data accuracy : Standardisation and reliable data collection methods are needed for accurate carbon footprint calculations

• Offset quality : Ensuring invested offsets actually remove the promised amount of carbon dioxide needs verification

• Accessibility : Making these features affordable and user-friendly is key to wider adoption .

10 % of green assets under management ( AUM ) are green assets Mphasis fintechmagazine . com 131