Cloud-based accounting software provider Xero announced it has partnered with sustainability fintech firm Cogo to release the free Cogo Business Carbon Manager app.
The app pulls categorized transactional data, such as spending on electricity and fuel, from Xero and then assigns a carbon footprint to each transaction, and calculates a carbon footprint for the business. Users can also access tailored advice around the actions they can take to lower their business’ carbon footprint, and gain competitive advantage. The app also enables customers to share their progress for people to see. While marketed at business owners, the app can also be used by accountants advising clients on carbon impacts.
“Sustainability is not just a trend, the fight against climate change is a global challenge. Small businesses are increasingly looking to operate more sustainably and understand their carbon impact, in much the same way they understand their financial data, but many don’t know where to start,” said Rachael Powell, Xero’s chief customer officer, in a statement.
The app is currently free, with plans to introduce paid features later this year. It is currently available in the Xero App Store today for the majority of Xero’s small-business customers in Australia. Cogo plans to start rolling out the app to Xero’s small-business customers in other regions in the coming months.
The two companies will continue working together to develop educational content and resources to support small businesses and their advisors to learn more about topics, including measuring a carbon footprint and reducing energy use. This content will be available on Xero’s Small Business Sustainability Hub.