More and more banks are offering the CO2 tool gecco2 to their corporate clients

ILI.DIGITAL AG: More and more banks are offering the CO2 tool gecco2 to their corporate clients

• With gecco2, the CO2 footprint can be determined easily, quickly, and accurately based on the economic data of the BWA
• Six banks have already connected, and eight more banks are in the implementation phase
• CO2 emissions are calculated using generative artificial intelligence, among other things
• Companies use gecco2 to fulfil their sustainability obligations, actively work on reducing their CO2 emissions and, in some cases, secure more favourable financing conditions
• gecco2 has received TÜV certification

Karlsruhe, 29 January 2024. The digitalisation specialists at ILI.DIGITAL and Volksbank Digital Solutions GmbH are delighted with the success and increasing acceptance of their joint product, gecco2. Around 7 months after the market launch, six banks have already integrated the CO2 tool into their offering for corporate customers. Eight banks are currently in the implementation phase - several other institutions are currently reviewing the use of gecco2.

gecco2 scores points with banks and their customers because companies can use the tool to easily, quickly, and accurately determine their carbon footprint based on the financial data from their BWA (business management analysis) and their totals and balance lists. Generative artificial intelligence reads the relevant data from the figures that companies already hold. Using algorithms and established calculation models, gecco2 calculates ecological data - the corporate carbon footprint (CCF) - from the economic data. The gecco2 application breaks down greenhouse gas emissions into Scope 1 (direct emissions), Scope 2 (indirect greenhouse gas emissions from purchased energy) and Scope 3 emissions (other indirect emissions) in accordance with the standards of the Greenhouse Gas (GHG) Protocol. This enables companies to identify exactly where in their value chain the highest CO2 emissions are generated.

gecco2 is therefore a powerful tool that companies can use to determine their positioning within sustainability and derive strategies and measures to improve their carbon footprint. The CO2 tool also supports companies in meeting the requirements of the Corporate Sustainability Reporting Directive (CSRD), which came into force in 2023. The EU directive is gradually obliging more and more companies to report comprehensively on their sustainability and record their carbon footprint. Now that gecco2 has been approved by L-Bank Baden-Württemberg, companies can also obtain subsidised loans and financing under certain conditions based on their carbon footprint calculated using the CO2 tool.  

Another positive aspect is that gecco2 has now also been certified by TÜV Rheinland. This confirms that the tool's approach to determining greenhouse gas emissions complies with the standards of the GHG Protocol Corporate Accounting and Reporting Standard (2004) and the GHG Protocol Value Chain (Scope 3) Standard (2011).

gecco2 was initiated, developed, and launched by ILI.DIGITAL AG together with Volksbank pur eG and its subsidiary Volksbank Digital Solutions GmbH. As part of the development, the project partners cooperated with the Swiss climate protection foundation ‘myclimate’.

Serhan Ili, founder, and CEO of ILI.DIGITAL AG: "gecco2 is being so well received by more and more banks for their corporate customers because it is a powerful and, above all, useful tool. Climate awareness and climate protection must be as simple and intuitive as possible for companies - especially SMEs. We are pleased that we can contribute to this with gecco2. In addition, this digital tool once again impressively demonstrates the potential that artificial intelligence can unlock if it is used correctly and responsibly. This is exactly what we at ILI.DIGITAL are working on every day with an experienced team and a great deal of passion."

About ILI.DIGITAL AG

ILI.DIGITAL AG is a specialised consulting and software company with a focus on digitalisation, innovation, and sustainable transformation. As "The No. 1 Digital Business Builder", ILI.DIGITAL AG primarily advises international corporations and leading SMEs from various industries on how they can digitally expand and improve their business model. Founded in 2010 by Dr Serhan Ili, the company implements digitalisation projects in the shortest possible time according to its proven "3-6-12-24-48" formula. The entire spectrum is covered - from strategy, design, and software development to scaling the solution. ILI.DIGITAL AG employs over 180 people in Karlsruhe, Lahore (Pakistan) and Seoul (South Korea).

More information can be found here:

https://ili.digital/

About Volksbank Digital Solutions GmbH

Volksbank pur eG wants to break new ground with Volksbank Digital Solutions GmbH. The focus is on developing new business models and digital solutions that go beyond traditional banking topics and open up new business areas "beyond banking". Volksbank Digital Solutions GmbH was founded in 2022.

Press contact

Vera Schott, CMO
press@ili.digital

edicto GmbH
Ralf Droz / Jessica Pommer
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60322 Frankfurt
Tel. (+49) 69 90550554