Success for Carbon Footprint Management Partnership Between OTP and Cogo
May 23, 2024

Customers of OTP, a banking group in Central and Eastern Europe, are keen to measure their carbon footprint with over 600,000 visits to the bank’s carbon tracker in its first six months. The opt-in feature is powered by the green fintech Cogo’s carbon footprint methodology which is seamlessly integrated into the banking experience.

OTP is among the first banks in Hungary to introduce a carbon management feature for customers. The feature rolled-out following a successful six month pilot with 10,000 customers in 2022 / 2023.

Emma Kisby, Cogo CEO, EMEA, comments: “We’ve been really encouraged by the engagement from OTP’s customers, demonstrating that the Hungarian market has a real appetite for being able to live more sustainably. When entering any new market, there are inevitable hurdles to overcome with regards to carbon literacy, but what this partnership proves is that customers want this feature from their banks and are also actively using it.”

András Fischer, director of innovation at OTP Bank, also added: “We are proud to be able to collaborate with startup partners on developing and implementing meaningful, innovative solutions at an international level. In line with our strategy, we gave priority to expanding the range of applications under the Program with beyond-banking and sustainability-focused products and services. Cogo not only aids in helping to educate our colleagues and customers about their carbon footprint, but also in understanding and measuring our own carbon emissions and impact on the climate. We hope our collaboration with Cogo sets an example in the Central European market, bringing about the future of green banking.”

The partnership between Cogo and OTP was borne from the bank’s Startup Booster Program organised by OTP LAB. In 2022, Cogo was one of 12 innovative fintechs chosen out of 260 applicants, with the aim of developing future bank solutions.