Scope Zero, a financial and environmental wellness platform, today announced that it has released its first case study highlighting the successful 2023 pilot of its Carbon Savings Account® (CSA) with New York Life, the largest mutual life insurance company in the United States. The Carbon Savings Account® (CSA) is an employee benefit solution that fosters employee financial wellness and corporate ESG. In just five months, the CSA reduced the participating New York Life employees’ annual utility bills by over $11,000 and reduced carbon emissions equivalent to removing five homes from the grid.
The case study showcases the real-world impact of Scope Zero’s innovative approach to employee benefits and corporate sustainability. Not only does the CSA significantly reduce the cost of living for employees, it also drastically decreases scope 3 work-from-home and commute emissions. This allows companies to reduce expenses on employee turnover and to further their net-zero corporate sustainability goals.
Amanda Lechenet, New York Life’s CVP of Sustainability and Corporate Responsibility, commented on the release of the case study, stating, “Scope Zero created an innovative solution to get employees to think about their carbon impact. The program proved popular as everyone is looking for ways to reduce exorbitant monthly electric and water bills. The CSA is a great way to help employees save money at home while also serving as a meaningful corporate sustainability benefit.”
Looking ahead, Scope Zero is currently piloting the CSA with HearstLab, one of their investors, and continues to validate their benefits solution by expanding their network of large enterprises. Each enterprise recognizes the financial, environmental, and social wellness value of the Carbon Savings Account® for their organization and their employees.
Looking ahead, Scope Zero is currently piloting the CSA with HearstLab, one of their investors, and continues to validate their benefits solution by expanding their network of large enterprises. Each enterprise recognizes the financial, environmental, and social wellness value of the Carbon Savings Account® for their organization and their employees.
“I am delighted to announce HearstLab’s strategic partnership with Scope Zero to further our efforts to bring cutting-edge benefits solutions to our employees. CEO Lizzy Kolar has brilliantly built the Carbon Savings Account® (CSA) to create a win-win for enterprises and employees that we anticipate will lead to higher employee retention, satisfaction, and engagement. By mitigating utility costs and carbon emissions, HearstLab is proud to underscore our commitment to employee well-being and corporate environmental stewardship,” says Eastin Rossell, HearstLab’s Venture Director, who oversees HearstLab’s pre-seed and seed investments.
The full New York Life case study can viewed at https://scope-zero.com/case-studies/
About Scope Zero
About Scope Zero
Scope Zero is a financial and environmental wellness platform and creator of the Carbon Savings Account® (CSA). Think health savings account, but for home technology and personal transportation upgrades that foster employee financial wellness and corporate ESG. For employees, the CSA increases the affordability and accessibility of upgrades that reduce their utility bills, fuel expenses, and carbon footprint. The CSA lowers the upfront costs of upgrades with employer matches and referral discounts from CSA marketplace vendors. For employers, the CSA measures, reduces, and reports scope 3 work-from-home and commute emissions. As an employee benefit within the US, the CSA can save over $300B per year in utility bills and fuel expenses, reducing carbon emissions equivalent to removing 125M cars from the road. For more information, please visit https://scope-zero.com
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Lizzy Kolar
