Swedish fintech company, Klarna has partnered with climate tech start-up Vaayu to provide customers with granular carbon footprinting for more than 50 million fashion products. This collaboration gives consumers a more precise understanding of their environmental impact than ever before, enabling them to make more responsible purchasing decisions.
As seen at Klarna's most recent "Spotlight" event, Vaayu's technology is used by Klarna's enhanced CO2e tracker to automatically compute carbon emissions for fashion purchases on a product-level in real-time. The cradle-to-grave life cycle assessment (LCA) method gives users a better analysis of a product's CO2 emissions throughout the course of its existence, enabling Klarna's 150 million users to make more informed and sensitive purchasing decisions.
These steps cover everything from gathering and processing raw materials to assembling products and delivering them to customers.
The collaboration comes in response to recent shopping data from Klarna that demonstrates how sustainability has taken center stage in consumer decision-making, particularly in the fashion sector. 58% of consumers worldwide want details about the environmental effects of the goods they purchase, such as whether they are made of sustainable materials and how much CO2 they emit. While 34% of consumers believe it's critical that companies and merchants perform in a sustainable manner, 22% of consumers who purchase online take the environmental impact of delivery options into consideration.
Namrata Sandhu CEO & Co-founder Vaayu, said that the world is at a turning point right now. The largest threat to our planet is climate change, which we must confront with swift action demands. However, in order to have an influence, both consumers and retailers must have access to accurate carbon data in order to make wiser decisions. Vaayu's ground-breaking technology gives Klarna strong carbon emissions insights and gives its consumers useful knowledge about the carbon impact of their purchases.
Salah Said, Head of Sustainability at Klarna, said that the evidence couldn't be clearer - more and more consumers expect transparency into the environmental effect of their purchases. However, customers need fair, trustworthy information that they can grasp in order to make thoughtful decisions. They provide customers with even deeper and clearer insights into the CO2e footprint of their purchases by integrating Vaayu's rich and granular data into our CO2e tracker. This empowers customers to vote with their wallets and enact real change.
Vaayu is the first automated carbon software in the world, enabling shops to determine emissions in real time and reduce them. It accomplishes this by employing its own private database of more than 600,000 data points and proprietary AI and machine learning technologies to extract insights from production, sales, and logistics to give retailers granular insights into their entire supply chain. By enabling merchants, Vaayu is helping the industry cut emissions by 1 gigaton by 2030.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
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