Expensify, a payments superapp that helps individuals and businesses around the world simplify the way they manage money, announced carbon neutrality in 2021 by completely offsetting its annual carbon footprint. To support its path to carbon neutrality, Expensify leveraged Watershed, the software platform helping companies run a world-class climate program.
To meaningfully offset its carbon footprint, Expensify is supporting Brazil Nut Concessions, which prevents deforestation and protects biodiversity on 500,000 acres in the Peruvian Amazon. The project affects over 300 small concessioner landowners aimed at refocusing the local economy towards the passive harvest of Brazil Nuts – a valuable commodity that can only be found in protected old-growth rainforests. The project also provides community members with sustainable income through carbon finance.
“Our life goals are: Live Rich, Have Fun, and Save the World and now we’re literally putting our money where our mouth is to help protect the future of our planet,” says David Barrett, founder and CEO of Expensify. “Over the years, we’ve spoken publicly about our values with multiple initiatives to support them.”
In January 2020, Expensify launched the first corporate card with Karma Points where with every swipe, Expensify donates 10 percent of Expensify Card revenue to causes such as climate justice. Barrett continues, “Karma Points has been wildly successful and our commitment to social justice causes via Expensify.org has quickly grown this year in supporting over 60 local campaigns. Now, it’s time to take the next leap and address our own carbon footprint.”
Expensify’s future Climate Program plans include coming up with a meaningful carbon reduction plan, additional carbon offsets, and removal to cover supply chain emissions. Expensify will commit to becoming Net Zero by 2030, to end its net emissions by reducing its carbon footprint and support carbon removal technologies.