Intuit Partners with Octopus Energy to Provide Renewable Options to UK QuickBooks Employees & Customers

Rhea-AI Summary

Intuit Inc. (Nasdaq:INTU) has partnered with Octopus Energy, the UK’s largest renewable energy provider, to help employees and QuickBooks Online customers transition to renewable energy as part of its 2030 climate positive goal. This initiative aims to reduce greenhouse gas emissions significantly, with a commitment to cut emissions by 50 times its 2018 output by 2030. If 1% of UK QBO customers switch to renewable energy, it will save 30,000 metric tonnes of carbon annually. Employees can earn energy credits, contributing to a more sustainable future.

Positive

• Partnership with Octopus Energy to support renewable energy transition.
• Goal to reduce greenhouse gas emissions by 50 times its 2018 output by 2030.
• Employees and customers can earn energy credits, promoting sustainability.

Negative

• None.

Intuit Inc. (Nasdaq:INTU), a global technology platform that helps its customers and communities overcome their most important financial challenges, has announced its first partnership to empower its employees and QuickBooks Online (QBO) customers in the UK to transition to renewable energy as part of its 2030 climate positive goal. Intuit has teamed up with the UK’s largest renewable energy provider, Octopus Energy, to provide alternative energy solutions, including solar, wind and water to its employees and customers.

A first of its kind for Intuit, the program engages key stakeholder groups in a concerted step toward reducing global greenhouse gas emissions by 50 times the company’s overall 2018 output by 2030. This climate positive pursuit follows the completion of Intuit’s goal of being 100% powered by renewable energy in 2020, 10 years ahead of its 2030 target. This is an important step in the company’s efforts to further improve its footprint, moving beyond its direct impact and promoting sustainability outside of its four walls.

The company is measuring the impact of this climate-positive goal for employees, customers, communities and partners, working with each group to find ways to collectively act on climate change. If just 1% of UK QBO customers switch to 100% renewable electricity with Octopus Energy, it will reduce carbon emissions by 30,000 metric tonnes per year, larger than Intuit's current carbon footprint for its global operations.

“At Intuit, we know we need to look beyond at our own operations to achieve the global reduction target of 1.5°C, working together across our entire value chain,” said Sean Kinghorn, global sustainability leader at Intuit. “Through this partnership with Octopus Energy, we’re making it easy for our employees and customers to choose sustainable alternatives in their daily lives, helping move the needle to save our planet.”

Connected by Intuit’s platform, employees and QuickBooks customers in the UK may sign up through Octopus Energy’s affiliate links to receive energy credits toward their utility bills. Employees will receive £25 ($34 USD) per fuel type as credit and customers will receive £100 ($136 USD) credit, whether they are a single or dual fuel customer. Those who take advantage of the opportunity can receive additional energy credits through Octopus’ referral program, multiplying their impact.

“Our investment in renewable energy technology is demonstrating that a collective, consumer-driven energy revolution is the cheapest, quickest way to go green and reduce global emissions at scale,” said Octopus Energy for Business CEO, Zoisa Walton. “It’s partnerships with brands like Intuit that enable sustainable alternatives to become an everyday solution for businesses and households alike.”

Since launching in 2016, Octopus has been on a mission to make the green energy revolution affordable whilst transforming customer experience. By establishing similar partnerships, it has been able to reach and serve over 1.8 million customers across the UK with cheaper, greener power. This partnership is part of Intuit’s climate positive commitment to empower its broader ecosystem to collectively work toward creating a more sustainable future. To learn more about Intuit’s sustainability efforts, visit Intuit.com.

About Intuit

Intuit’s mission is to power prosperity around the world. We are a mission-driven, global financial platform company with products including TurboTax, QuickBooks, and Mint, designed to empower consumers, self-employed and small businesses to improve their financial lives. Our platform and products help customers get more money with the least amount of work, while giving them complete confidence in their actions and decisions. Our innovative ecosystem of financial management solutions serves more than 50 million customers worldwide. Please visit us for the latest news and in-depth information about Intuit and its brands and find us on social.

About Octopus Energy

Octopus Energy Group was launched in 2016 with a vision of using technology to make the green energy revolution affordable whilst transforming customer experiences. Its domestic energy arm already serves 1.8 million customers with cheaper greener power. Octopus Energy for Business manages over 20,000 business customers with proprietary energy offerings. Octopus Electric Vehicles is helping make clean transport cheaper and easier, and Octopus Energy Services is bringing smart products to thousands of homes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210202005172/en/

FAQ

What partnership has Intuit announced in the UK?

Intuit has partnered with Octopus Energy to help employees and QuickBooks Online customers transition to renewable energy.

What are Intuit's climate goals with this partnership?

Intuit aims to reduce greenhouse gas emissions by 50 times its 2018 output by 2030.

How will the partnership benefit Intuit employees and customers?

Employees can receive £25 per fuel type as credit, and customers can receive £100 credit for switching to renewable energy.

What impact will 1% of UK QuickBooks Online customers switching to renewable energy have?

It will reduce carbon emissions by 30,000 metric tonnes per year.

What is Intuit's previous achievement in renewable energy?

Intuit achieved its goal of being 100% powered by renewable energy in 2020, ten years ahead of its target.