FinTech Alaan unveils Scope 3 emissions estimation feature
By Delisha Fernandes
Alaan, a corporate spend management FinTech in the UAE, has launched Scope 3 emissions estimation feature for enterprises in partnership with Lune Technologies, an Emirati transaction data enrichment and analytics firm.
This collaboration aims to help companies track and report Scope 3 emissions for every transaction made with Alaan’s corporate card.
Parthi Duraisamy, CEO and co-founder of Alaan, said, “As the UAE government and businesses make strides towards net zero, it is important that the right tools are available to businesses for the transition. Our new emissions-estimation feature represents the future of responsible corporate spending, which will be an integral component of every sustainability-focused company in the country.”
The emissions will be presented in real-time as a widget on the Alaan app beside each transaction, providing immediate insights. A monthly summarised report will also be available for enterprises to review and identify areas with the highest emissions, enabling them to address these with tangible solutions. Additionally, Alaan has worked with sustainability experts to create an emissions reduction playbook, a compilation of resources that helps enterprises reduce their scope 3 emissions.
Helal Lootah, Co-CEO of Lune Technologies, said, “At Lune, we consistently evaluate the impact of our work, striving to improve end-customers’ understanding of their spending and to empower them to make ethically conscious spending decisions. We are thrilled to partner with Alaan to introduce this pioneering feature and are eager to see how this new offering would shape the way enterprises look at sustainability in their expenses.”
Alaan enables businesses to instantly issue physical and virtual corporate cards for managing a range of their business expenses, from e-commerce transactions and SaaS subscriptions to vendor payments, government services, and in-store purchases. The cards can be set up with daily or monthly spending limits and can also be configured for exclusive use with designated vendors, such as fuel stations.
IBSi Daily News Analysis
December 01, 2023
UAE consumers turn to banks for advice on sustainable financeRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
December 01, 2023