Connect Earth has been selected to take part in the Digital Sandbox Sustainability Cohort launched by the Financial Conduct Authority (FCA) and the City of London Corporation as one of only 12 companies.
Connect Earth will contribute to the cohort by testing how the consumer understanding of a product’s and company’s environmental characteristics can be improved to help them make more sustainable decisions. A key objective of the project is to utilise the tools provided by the Digital Sandbox, such as synthetic data sets, the API marketplace, as well as the collaboration platform, to build a solution that optimises the measurement of a company’s and a consumer’s carbon footprint based solely on their financial data.
Alexander Lempka, CEO at Connect Earth, said:
“At Connect Earth, we are extremely proud to be a part of this special group of organisations and individuals that unite to make ESG data in finance more transparent, effective, automated, and useable. The access to the Sandbox environment and community will help us immensely in our mission to empower consumers and companies to make more sustainable decisions on a daily basis.”
Catherine McGuinness, Policy Chair at the City of London Corporation, said:
“This is hugely exciting news that shows once again why London is a world-leading centre for green finance, with the public and private sectors working together to drive progress. This group of companies will help to create a greener financial sector and aid the transition to net zero by addressing common challenges, including issues such as ESG data and disclosure. I hope their involvement in the Digital Sandbox will be a vital step towards mobilising private capital to deliver a green revolution.”
The Sustainability Cohort will be assessed against 5 success criteria:
- Innovation – role played in facilitating novel innovation, enabling participants to accelerate product development, and producing high quality solutions.
- Market readiness – the ability of participants to improve their business model through mentorship or industry feedback, and the ability of participants to demonstrate the efficacy of their solution using the data assets.
- Iterative development – the ability to continually improve the sandbox through feedback loops with the market.
- Collaboration – role played in creating new partnership and helping form diverse networks of stakeholders that can collaborate on a shared industry problem.
- Thought leadership – ability to test cutting edge technology and impact this has on future policy.
About the Digital Sandbox:
The City of London Corporation and the Financial Conduct Authority have collaborated on a Digital Sandbox, a novel platform and the first of its kind in Europe. It provides access to features such as synthetic data, an API marketplace, a digital testing environment, and a collaboration platform to support innovation and address challenges in tech development and adoption.
About Connect Earth:
Founded in 2021, Connect Earth is a London-based environmental data company that democratises easy access to sustainability data. With its carbon tracking API technology, Connect Earth is on a mission to empower consumers and SMEs to make sustainable choices and bridge the gap between intent, knowledge and action. Connect Earth supports financial institutions in offering their customers transparent insight into the climate impact of their spending.
Reach out if you think Connect Earth can help your business.