Green fintech start-up Tred launches new carbon-tracking banking app

UK eco-friendly fintech start-up Tred has launched a new banking app that allows users to track the carbon emissions of their transactions.

Tred launches new banking app

The open-banking powered app allows customers to see an in-depth and holistic view of the carbon emissions created every time they spend. Users can then keep tabs on their carbon footprint while the app suggests ways they can reduce it. Existing cards can also be linked to the app.

At the end of each month, Tred users will be nudged to offset any carbon their spending has emitted – capped at £20, with an average cost of £14 – with insights into which aspects of their lifestyle are creating the most emissions.

Tred’s green credentials are also reflected in its promise to divert profits to tree-planting programmes through partnering with Forest Carbon, and its debit card is made from recycled ocean plastic. As of May this year, Tred says it has planted 18,000 trees.

Co-founded in 2021 by Peter Kirby and Will Smith, Tred raised more than £1 million from more than 1,000 investors in April 2021, and in June this year exceeded an additional crowdfunding target of £600,000.

Smith says: “Managing your finances as well as considering your carbon emissions may seem overwhelming but it doesn’t have to be. Our platform lets people effortlessly manage their money, and its impact, all in one place.”