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TSB puts carbon tracking control in customers’ hands with Cogo

8th December 2021

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The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions.


  • TSB customers can now see how much CO2 is generated by their everyday purchases
  • New partnership can help TSB customers achieve a more sustainable Christmas and continue sustainable spending habits into the new year
  • Collectively, TSB customers could save up to 574 million kg of CO2 emissions per year, which is equivalent to driving over two billion miles

TSB customers can now monitor and reduce their carbon footprint, as the bank launches a new partnership with Cogo – the carbon footprint-tracking app that analyses the environmental impact of account transactions.

This follows TSB’s announcement earlier in the year to become net-zero by no later than 2030. The bank has introduced green mortgage products, building on initiatives such as TSB’s plant a tree pledge for home moves. Now TSB is turning its focus to colleagues and customers – helping them understand the changes they can make to spend more sustainably using their TSB Spend & Save Accounts.

The Cogo collaboration adds to TSB’s existing programme, in which the Bank partners with innovative fintechs to help deliver money confidence to its customers. By buying sustainably and making greener choices this can also add up to big differences in financial savings for customers.

Cogo estimates that up to 574 million kg1 of CO2 emissions per year – which is equivalent to driving over two billion miles2 or over or over 50,000 times around the world in a car - could be saved should TSB’s three million digital banking customers use the service.

Cogo uses open banking and data linked to electronic bank statements to analyse customers’ financial transactions and day-to-day spending to give a clear picture of the impact this has on the environment.

To calculate a person or household’s carbon footprint, Cogo first analyses their banking data and matches every transaction to a specific industry (fashion, grocery, insurance). It can then estimate the carbon footprint of that transaction.

For example, £1 spent at a UK fashion retailer creates on average 1kg CO2e3.

The app also factors in the type of products sold by each company, for example which energy suppliers use 100% renewable electricity. Based on that individual’s actions, Cogo will then suggest ways to lower their carbon footprint.

Cogo has calculated the types of emission savings that TSB customers can make this Christmas based on data from existing partnerships with banks:

  • By renting an outfit for your work holiday party you can save money & reduce your impact; renting a dress for only £27 that retails for £230 reduces your impact by the equivalent of nearly 4 trees being cut down.
  • As we are all racing around with social engagements, take an electric taxi when heading to and from a Christmas party; by taking an eight mile journey in an electric cab - instead of petrol or diesel - you can save around 2.8kgs of CO2 emissions; that’s equivalent to over 350 smartphone charges.
  • Spending £100 on highstreet fashion has the equivalent carbon impact of driving over 365 miles in a car - that could get you all the way from London to Edinburgh, with miles to spare. Instead shop at your local charity shop to cut your fashion footprint by 75% for every pound spent
  • Over Christmas, our food intake can fluctuate. When you opt for a no-red meat diet you can reduce your carbon footprint by an estimated 87kg annually, that’s equivalent to over 300 miles driven in a car.

Emma Kisby , Chief Executive Office, Cogo said:

“We know that people want to take action to help the environment, but are often unsure what to do. Due to the sheer scale of the problem they can feel like their individual actions won’t matter, but if millions of people join together to make conscious choices, it will have influence and lead to systemic change. That is why partnerships, like this one with TSB, are so important to Cogo as it gives millions of customers the chance to understand, measure and reduce the impact of their spend.

“This partnership also demonstrates the critical role FinTechs can play in supporting banks to help customers make real and positive changes to transition to a low carbon economy.”

John Lyons, Director of Payments, TSB said:

“By partnering with Cogo, we are providing millions of our online customers with all the tools necessary to help make more informed and sustainable choices about their purchases.”


The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions.


Notes to editors


1 Cogo’s data is calculated from existing partnerships with banks - and shows that the average user saves 14.2kg in CO2 emissions per month by committing to behavioural changes that use less carbon. This means that if all of TSB’s online and digital customers use the service, up to 574 million of Co2 could be saved per year.

2 Actual figure calculated is 2,044,322,880 miles

3 CO2e means “carbon dioxide equivalent”. CO2e (carbon dioxide equivalent) is a way of combining multiple greenhouse gases into one, easy-to-understand unit to avoid confusion. For example, instead of saying carbon dioxide (CO2), nitrous oxide (N2O) and methane (CH4) are having an impact on our environment, we could just say that CO2e has an impact on our environment.

Cogo is registered with the Financial Conduct Authority (FCA) (Reference number: 848736) and works with Consents Online Limited (Reference number 792642) as an appointed agent and Registered Account Information Service Provider (RAISP).

Cogo will also support TSB customers by suggesting a range of ways to reduce or offset their carbon footprint, with the goal of becoming ‘carbon neutral’. Offsetting is a way of compensating for carbon emissions, by funding an equivalent carbon dioxide saving elsewhere. Some of the offsetting measures which TSB customers will be supporting include protecting natural habitats and renewable energy projects.

About Cogo

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. Visit for more information.

About TSB

TSB is a UK retail bank with a trusted customer brand and heritage stretching back to the start of the savings bank movement 200 years ago. TSB offers full retail banking to more than five million customers, online, digitally, via phone and through our branch network. In August last year we launched our Do What Matters Plan, which commits to creating social and environmental, as well as economic value.