Earlier this year, Finextra announced Lune, a climate-positive company providing API and software tools, had won the FinTech Zone award at EBAday 2024. The award is presented to companies that have shown true innovation and an ability to deliver a capable solution to a current issue in finance and banking. A few months on from this year's event, Lune is still making strides towards a better, more streamlined climate process for its clients.
Climate continues to be a concern for customers which means it is an issue companies have to listen to and, in a world of fast research, companies can’t afford to be left behind.
In a FinextraTV Interview, Erik Stadigh, co-founder and CEO, Lune said “we see this kind of like the software trend of the last 20 or so years, where every single company has become a digital company. […] So, in a similar fashion, we’ll see - over the coming decade - every company will become a climate company .
Increasingly, more regulation is being implemented that requires businesses to be more transparent with their carbon emissions data and report on the climate impact of their daily operations. At a time when businesses are already struggling with a number of choices, understanding how to approach these new processes and obligations can be difficult.
As Stadigh went on to say: “for almost every business out there, it’s super hard. They don't have the time, they don't have the resources, they don’t have the know-how to do that. [...] they’re sitting on corporate spend data, travel data and so on.”
Lune’s services provide a way to break down these barriers and provide the tools and information to understand their carbon emissions, climate impact and successfully report on it.
One way this can be done is by tracking expenditure via the cards used. Once a transaction has been completed, the carbon emissions of that purchase are automatically calculated and formulated into a report.
As the world changes, it’s not just regulations that will define these activities, it is also the preferences of consumers. As Stadigh said the point is to help businesses “embed granular emission calculations and high quality carbon products into their product offering so they can better serve their customers”
For more information on the FinTech Zone Award and if you believe your company and its innovative ideas or products deserve to be the 2025 recipient, complete this application: Fintech Zone Application