Sydney — 7 September, 2022 —Xero, the global small business platform, has partnered with global sustainability fintech, Cogo, to help small businesses take the next step in their sustainability journey. Xero and Cogo will help provide small businesses with the tools to better understand their carbon footprint and take action to reduce it.
Announced at Xerocon Sydney, Xero and Cogo have partnered to launch the Cogo Business Carbon Manager app in the Australian Xero App Store to help Xero’s customers to understand, measure and reduce the carbon footprint created by their businesses. The app is free, with enhanced paid features launching later this year. Xero and Cogo will also continue to collaborate to educate and support small businesses on their sustainability journeys.
The Cogo Business Carbon Manager app pulls categorised transactional data - such as spend on electricity and fuel - from Xero, assigns a carbon footprint to each transaction, and calculates a carbon footprint for the business. Customers can also access tailored advice around the actions they can take to make easy, positive changes to help lower their business’ carbon footprint, and gain competitive advantage. The app also enables customers to share their progress which can help them retain and attract customers, having a positive impact on the business’ bottom line.
“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.
“Solving the biggest changes and challenges for small business is not something Xero can do alone and by partnering with Cogo we’re making a commitment to stimulate the sustainability solutions category for small businesses.
“According to recent Xero research, 68 percent of small businesses feel improving their sustainability practice is important to them. By collaborating with Cogo we’re helping to provide the technology and resources to help small businesses to make more sustainable decisions for their business and ultimately reduce their impact on the environment.”
Julie Lindenberg, Cogo’s CEO APAC, said: “As Governments and big businesses set environmental targets, small businesses that can demonstrate their sustainability efforts will benefit - whether it's securing access to lending or government grants, participating in corporate supply chains as a preferred supplier or attracting and retaining climate-minded clients. We’re really proud to be partnering with Xero to simplify sustainability for small businesses via accurate data, personalised reports and actionable insights.”
Xero has accelerated its own sustainability efforts, achieving carbon neutrality in 2019 and gaining carbon neutral certification by the Australian Government’s Climate Active program for FY20 and FY21. The company now wants to support its customers to take positive steps to reduce their carbon impact, while continuing to reduce its own.
Through the Cogo Business Carbon Manager app, accountants and bookkeepers will be able to expand their offering into helping advise their clients on how to become a more sustainable business.
“Working closely with Cogo, we hope to enable advisors to expand their conversation with their clients to include measuring and improving their sustainability practices in their business goals and strategy,” adds Powell.
Xero and Cogo will continue to work 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, a resource page Xero created to support small businesses, accountants and bookkeepers on their sustainability journey.
The app is 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.
Accounting and bookkeeping partners and the Xero app community have gathered at Xerocon Sydney over two days to hear the latest from industry leaders and gain insight into the newest Xero tools and features, as well as industry trends. Cogo is an exhibitor at Xerocon and will be demonstrating the new app on their stand. Cogo CEO Julie Lindenberg will also be appearing as a guest speaker in the Xerocon Sydney breakout session ‘Apps and Tools to extend your practice beyond core accounting’.
Xero is a global small business platform with 3.3 million subscribers which includes a core accounting solution, payroll, workforce management, expenses and projects. Xero also provides access to financial services, and an ecosystem of more than 1,000 connected apps and more than 300 connections to banks and other financial institutions. Through Xero’s open platform, small businesses can connect to a range of solutions that help them run their business and manage their finances. For three consecutive years (2020-2022) Xero was included in the Bloomberg Gender-Equality Index. In 2021, Xero was included in the Dow Jones Sustainability Index (DJSI), powered by the S&P Global Corporate Sustainability Assessment. Xero has been named as a FIFA Women’s Football partner under FIFA’s new commercial structure.
Cogo is an impact-led fintech whose carbon tracking API and consumer App enables users and businesses world-wide to measure, reduce and compensate for their impact on people and planet. The company’s API enables banks and other corporations to integrate carbon and sustainability data into their customer experiences - for example by providing bank customers their carbon footprint within the bank's own mobile app. Cogo supports behaviour change (reduction) through its world-leading ‘ethical nudge framework’; and offers users the ability to offset (compensate) the balance of their impact via carbon credits.
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