After the carbon footprint, ING calculates the water footprint

The DING subsidiary in Spain is stepping up its environmental action. The bank has developed a new feature that allows its customers to assess their water footprint related to their banking activity. The aim is to raise awareness among Spanish people about excessive water consumption, in a country where droughts are becoming more frequent. This innovation also enables ING to realize its environmental commitments.

FACTS

• The Spanish branch d

• It is an AI-based tool that can be used to calculate the environmental footprint through the analysis of bank transactions on individual accounts.

• The Dutch bank is distinguished by the proposed indicators since it gives an estimate of the CO2 emitted but also of the water used in an individual's financial transactions.

• To this end, the bank partnered with Clarity AI, a company specializing in AI and data analysis based on sustainability prism.

• In concrete terms, DING customers will be able to consult Mi ECOHuella on their personal space via their application. In particular, they may:

  • See the evolution of their environmental impact with a detailed breakdown by category and transaction;

  • Adjust results with a lifestyle test;

  • Or access advice and recommendations to help them reduce their carbon and water footprint.

• For greater readability and understanding, these data are put into perspective with a national average per capita and equivalences.

ISSUES

• Strengthening its commitment to sustainable development: With Mi ECOHuella, ING aims to further implement its environmental actions. With this in mind, the bank wishes to offer practical elements to its customers so that they can assess the impact of their banking activities on the climate. It therefore acts with a pedagogical logic vis-à-vis its clients.

• Raising awareness in areas affected by climate change: The development of the tool in Spain also makes sense in the environmental situation. Indeed, the country is increasingly affected by droughts and the bank therefore wants to raise awareness among individuals of the impacts they may have on available water resources.

PERSPECTIVE

• The various branches of the ING show a degree of appreciation for innovation based on AI. In January, for example, ING Belgium launched ING Scan & Drive, a tool to simplify the cost assessment processes for an automobile loan. Developed with OpenAI, the tool mainly aims to simplify customer journeys, in a sector of banking insurance marked by the rise of the AI in tools.

• Last May, Worldline released an important study on environmental impact of payments, encouraging ecosystem actors to accelerate the decarbonisation of their activities. In its conclusions, the company pointed out, for example, that the decline in cash use in favour of the card reduced CO2 emissions from payments.

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