Aspiration and veritree Partner To Transform Transactions into Trees

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May 30, 2024, 09:00 ET

Aspiration's "Plant Your Change" (PYC) program is the only US program that allows climate-conscious consumers to fund verified tree plantings with every debit card purchase

SAN FRANCISCO, May 30, 2024 /PRNewswire/ -- Aspiration, a leader in climate-friendly financial services for consumers, has entered into a new partnership with veritree to support Aspiration's global tree-planting operations. Under the agreement, veritree will provide tree-planting services to support Aspiration's signature Plant Your Change (PYC) program that allows customers to round up their spare change to the nearest dollar and fund a tree with every purchase.

Aspiration is the only green banking alternative in the United States that builds climate action into its financial products by offering customers the opportunity to fund tree planting with each debit card purchase. Aspiration account holders have already funded the planting of more than 28 million trees, which will sequester an estimated 4.6 million tonnes of CO2 over their lifetime – that's the equivalent of taking over 1 million gas-powered cars off the road for a year.¹

Aspiration has committed to funding the planting of at least 2.5 million additional trees in the first year of the partnership with veritree.

veritree's platform uses data and technology to carefully track every step of each tree-planting project. The impacts of these efforts are thoroughly monitored over time via on-the-ground monitoring, ensuring they make a real, lasting difference in revitalizing ecosystems and strengthening communities.

"Climate change is the most significant challenge of our lifetime, and planting trees along with restoring forests rank among the most effective strategies to mitigate its impact," said Tim Newell, Aspiration's CEO. "Our partnership with veritree - through which we'll plant millions of trees this year alone - will bring a new industry-leading level of transparency and accountability to our tree-planting operations, which is important to our customers."

"veritree is excited to join forces with Aspiration, a true pioneer in climate-conscious finance. Cultivating a sustainable future requires more than just planting trees—it demands a commitment to transparency, verification, and impactful partnerships," said David Luba, Co-founder and Head of Partnerships at veritree. "We are proud to be fortifying Aspiration's visionary 'Plant Your Change' program with our commitment to rigor and credibility and we look forward to collectively scaling meaningful impact."

¹ Equivalency calculation performed using the EPA's Greenhouse Gas Equivalency Calculator in March 2024, using the 4.56 million tonnes of CO2e figure for Aspiration-funded trees through February 2024. https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

About Aspiration
For more than a decade, the Aspiration brand has been at the forefront of integrating climate action into personal finance. Its suite of green financial services products empowers individuals to directly combat climate change through their everyday spending and saving. As a leader in climate-friendly financial services for consumers, Aspiration is dedicated to creating a future where financial decisions contribute to a healthier planet. To learn more visit aspiration.com.

The Aspiration Spend & Save accounts are checking and savings accounts offered through Coastal Community Bank, Member FDIC.

About veritree
veritree is a data-driven, restorative platform that connects nature-based solutions with mission-driven companies ready to lead the restorative economy. With on-the-ground monitoring and blockchain verification, veritree improves transparency and trust through data and tools that revitalize ecosystems, strengthen communities, and build climate solutions.

The success behind tentree's planting program, veritree scales consumer-centric programs between planting organizations and corporations around the world. veritree's mission is to restore the planet - planting and verifying one billion trees within the decade. For more information, visit veritree.com.

SOURCE Aspiration