Intuit Commits to Helping 1 Million US Small Businesses Cut Emissions in Half By 2030

Rhea-AI Summary

Intuit Inc. (NASDAQ: INTU) announced the launch of its Climate Action Marketplace aimed at helping 1 million small businesses in the US and UK reduce their carbon emissions by 50% by 2030. This online platform offers various climate-friendly solutions from 12 initial providers across multiple sectors, enabling businesses to implement sustainable practices without additional costs. The initiative aligns with the global United Nations Race to Zero campaign, emphasizing the role of small businesses in addressing climate change.

Positive

• Launch of Intuit Climate Action Marketplace to help small businesses reduce carbon emissions.
• Commitment to assist 1 million US small businesses by 2030.
• Partnership with 12 solution providers offering sustainable options.
• Supports small businesses in aligning with the UN Race to Zero campaign.

Negative

• None.

Intuit Climate Action Marketplace™ to help small businesses access climate-friendly business solutions and grow their businesses

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint and Credit Karma, today announced its commitment to helping 1 million US small businesses cut their carbon emissions by 50% by 2030. Any small business owner in the US and UK can now go to the Intuit Climate Action Marketplace, an online destination that provides resources to small businesses to reduce their carbon emissions at scale, while also helping them save money and grow their business. With this marketplace, small businesses can find more sustainable choices to replace high carbon emission activities with no extra hassle, time or cost.

Small businesses represent 90%¹ of the global business population, however they are relatively less involved in efforts to mitigate climate change than larger corporations. Sustainable solutions are often out of their reach due to costs, or deprioritized against other small business needs. A September 2021 QuickBooks Small Business Index Report² found that nearly all small businesses—a whopping 97%—would like to take action in the future to be more environmentally responsible.

The Intuit Climate Action Marketplace highlights creative climate solutions to millions of business owners who want to reduce the carbon footprint of their small or medium-sized business. Small business owners and entrepreneurs can access products and services from 12 initial solution-providers across the energy, travel, food waste, commuting and procurement sectors. Intuit will continue to add other relevant categories and solution-providers over time.

“Small businesses are the backbone of the global economy and can collectively help us make big strides in solving the climate crisis,” said Cassie Divine, Intuit Senior Vice President of QuickBooks Platform. “We are committed to empowering our small business community to make a measurable, positive impact on the environment, while also helping them run their business more effectively. Climate change is a palpable issue, and the new Intuit Climate Action Marketplace makes it easier for small business owners, self-employed individuals and entrepreneurs to get connected with climate solutions.”

Solutions offered on the Intuit Climate Action Marketplace are designed to be simple alternatives to typical business operations solutions, making it feasible and simpler for small businesses to replace high carbon-emissions activities with more sustainable solutions, often at an exclusive discount. Founding solution-providers on the Intuit Climate Action Marketplace include:

• EnergySage (US): renewable energy solutions marketplace
• Octopus Energy for Business (UK): 100% green energy provider
• Allumia (US): energy efficiency as a service (EaaS)
• Goodwings (UK/US): net zero business travel booking
• Edenred Benefits (UK/US): commuter benefits and micro-mobility solutions
• Too Good To Go (UK/US): mobile application that connects customers to restaurants and stores that have surplus food
• Copia (US): technology platform that allows businesses to safely donate their excess food, access enhanced tax deductions, and receive powerful data to inform food purchasing decisions
• Sendle (US): carbon neutral shipping carrier
• Aspiration (US): Plant Your Change plants a tree by rounding up the change on every swipe of a customer’s debit or credit card
• Tradewater (UK/US): refrigerant management provider
• Red-Inc (UK): eco-friendly office supplies
• Rheaply (UK/US): resource exchange (circular economy) platform provider

With the launch of this marketplace, Intuit is committing to helping small businesses align to the United Nations Race to Zero pledge, a global campaign to rally leadership and support to commit to achieving net zero carbon emissions by 2050 at the latest. In August of 2021, Intuit QuickBooks made a similar commitment to help 30,000 UK-based small businesses declare their climate commitment through the SME Climate Hub and United Nations Race to Zero Campaign. Now, through the Intuit Climate Action Marketplace, any small business and entrepreneur can move from commitment to action by selecting climate-positive solutions for their business.

“We are proud of Intuit’s continued support of small businesses around the world,” said María Mendiluce, CEO of the We Mean Business Coalition, a founding partner of the SME Climate Hub. “Together, we must move swiftly and decisively to bring small and medium sized businesses to climate action. With the tools and resources available, this becomes an achievable reality.”

To learn more, visit intuit.com/climatemarketplace. Signup for Intuit’s Small Business Climate Positive Beta program here, or email sustainability@intuit.com with partnership-related inquiries.

About Intuit

Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges. Serving approximately 100 million customers worldwide with TurboTax, QuickBooks, Mint and Credit Karma, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social.

¹ WorldBank: https://www.worldbank.org/en/topic/smefinance

² https://quickbooks.intuit.com/r/inspiration/small-business-insights-sep-2021/ September 2021

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005489/en/

Sarah Hilmer

sarah_hilmer@intuit.com

Source: Intuit Inc.

FAQ

What is the Intuit Climate Action Marketplace?

The Intuit Climate Action Marketplace is an online platform designed to help small businesses access climate-friendly solutions and reduce their carbon emissions.

How does Intuit plan to help small businesses reduce emissions?

Intuit aims to assist 1 million small businesses in the US and UK in cutting their carbon emissions by 50% by 2030 through its Climate Action Marketplace.

What types of solutions are offered in the Climate Action Marketplace?

The marketplace features sustainable solutions from 12 providers in sectors like energy, travel, food waste, and shipping.

How can small businesses get involved with the Climate Action Marketplace?

Small business owners can visit the Intuit Climate Action Marketplace online to explore available resources and sign up for the program.

What is the significance of the UN Race to Zero campaign for Intuit?

Intuit's marketplace supports small businesses in achieving commitments aligned with the UN Race to Zero campaign, aiming for net-zero emissions by 2050.