HONG KONG, May 22, 2023 /PRNewswire/ -- On-us Company Limited ("On-us" or the "Company"), Asia's first performance-based B2B digital voucher solution provider, today announced the launch of its brand new Carbon Offsetting Voucher Solution (the "Solution") and carbon reduction certification. Together, these aim to help businesses track their carbon footprint through data analysis and quantify the carbon emissions that digital vouchers help to reduce, while also encouraging them to further adopt digital vouchers to promote sustainable development across various industries.
On-us launches brand new Carbon Offsetting Voucher Solution (from left to right: Dennis Shi, On-us Co-founder & CEO; Ophelia Lin, Vice-Chairperson of Friends of the Earth (HK) and Founding President of SME Sustainability Society; John Wong, Managing Director, Head of Global Payments Solutions at Hang Seng Bank; King Leung, Head of Fintech at InvestHK; Francis Ngai, Founder and CEO of Social Ventures Hong Kong; Max Song, CEO of Carbonbase; Honnus Cheung, On-us Co-founder & Chief Strategy Officer)
The Solution was developed by On-us with the validation of the carbon offset platform Carbonbase, in accordance with the international standard ISO 14067:2018. The carbon emissions reduced by using electronic vouchers is calculated by comparing the total carbon dioxide equivalent (CO2e) generated from issuing a defined number of paper vouchers to that of digital vouchers over a certain period, with CO2e assessed in four dimensions: raw materials, transportation, use (printing), and disposal.
Findings indicate that from 2020 to 2022, the digital vouchers distributed by On-us reduced CO2e by 13,468 kg. This is equivalent to the carbon dioxide sequestered by 345 tree seedlings grown over 10 years. Specifically, the digital vouchers that On-us issued in partnership with banks, insurance companies and enterprises from other industries reduced CO2e by 5,291 kg, 3,443 kg, and 4,734 kg, respectively.
As a fintech startup, On-us enables virtual card payments for instant voucher redemption and settlement between businesses and merchants through its omni-tech platform, providing multi-brand vouchers that allow consumers to choose from multiple pre-selected merchants to redeem their vouchers. This helps businesses enhance their brand experiences and interactions. Meanwhile, On-us' platform can also monitor the redemption of vouchers and collect consumer behavior data in real time, enabling marketers and merchants to better understand customer habits. As a result, the return on investment (ROI) of traditional incentive reward programs can be improved, with lower administrative costs and less resource waste.
Honnus Cheung, Co-founder and Chief Strategy Officer of On-us Company Limited said, "Through our digital voucher solution, On-us has successfully integrated ESG (Environmental, Social, and Governance) values into our business and marketing strategies. The launch of our Carbon Offsetting Voucher Solution and carbon reduction certification is in line with our long-standing commitment to achieve zero waste. Moving forward, On-us plans to leverage the Solution and certification to acknowledge the efforts made by partner companies in reducing carbon emissions, enhance their environmental consciousness, and further promote sustainable development across various industries."
At the launch of the Solution, On-us also organized a "Post-Pandemic SME Green Business Practices Seminar" featuring a panel of industry experts, including King Leung, Head of Fintech at InvestHK; Francis Ngai, Founder and CEO of Social Ventures Hong Kong; John Wong, Managing Director, Head of Global Payments Solutions at Hang Seng Bank; and Ophelia Lin, Vice-Chairperson of Friends of the Earth (HK) and Founding President of SME Sustainability Society. During the seminar, they shared insights and advice on how fintech-driven ESG strategies can help drive business growth for SMEs in the post-pandemic era.
King Leung, Head of Fintech at InvestHK noted, "According to statistics, investment in Greentech is expected to increase by 121% in the next three years in Hong Kong – more than any other fintech sector. Through the Global Fast Track program, we will continue to proactively stimulate the widespread adoption of financial technologies including Greentech."
Francis Ngai, Founder and CEO of Social Ventures Hong Kong said, "In the post-pandemic era, many businesses have begun to explore innovative business models in the hopes of not only boosting profits but also generating social value. Fintech startups are flourishing in Hong Kong and should actively collaborate with social enterprises and the social welfare sector to jointly advance social innovation across the city. By leading the way in promoting environmental consciousness, On-us, a fintech startup, is effectively contributing to the sustainable development of society."
John Wong, Managing Director, Head of Global Payments Solutions at Hang Seng Bank noted, "We are delighted to support environmental protection by cutting the carbon emissions generated from our marketing activities through On-us' digital voucher solution. On-us' Carbon Offsetting Voucher Solution helps us better understand the carbon reduction achieved by their digital vouchers, strengthening our resolve to further adopt digital vouchers in future promotional campaigns. This aligns with our commitment to promoting ESG development."
Ophelia Lin, Vice-Chairperson of Friends of the Earth (HK) and Founding President of SME Sustainability Society said, "As a fintech startup, On-us merits attention for the considerable amount of carbon emissions it has helped to reduce within such a short period. Serving as a good example for SMEs, On-us helps boost economic, social and environmental sustainability while fulfilling its corporate social responsibilities in an innovative way. We should encourage and promote its practices to create a better future for economic, social and environmental sustainability."
Honnus added: "Moving forward, On-us will continue to utilize our Carbon Offsetting Voucher Solution to provide carbon reduction certifications for more partner companies, encouraging them to save energy, lower emissions, and adopt green business practices. This aligns perfectly with our dedication to generating social value. In May, we introduced a novel category of digital vouchers in collaboration with social enterprises and non-profit organizations such as Green Common, Redress, PLAN, and the Hong Kong Cancer Fund. By using these vouchers, stakeholders, including partner companies and consumers, can financially support these organizations, helping them to expand their social impact, elevate public consciousness of philanthropy, and collaboratively shape a better future."
On-us awards Hang Seng Bank a carbon footprint reduction certificate (from left to right: Max Song, CEO of Carbonbase; John Wong, Managing Director, Head of Global Payments Solutions at Hang Seng Bank; Honnus Cheung, On-us Co-founder & Chief Strategy Officer)
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About On-us Company Limited
On-us Company Limited (On-us) is a consumer-minded B2B digital voucher solution provider. Equipped with application programming interfaces (APIs) for omni-channel distribution, On-us is an incentives ecosystem focused on delivering value and deepening customer relationships through customized messages and analysis of consumer behavioral data. Clients include marketers of global financial services providers, people management teams, blue chip property developers, non-profit organizations, event planners and SMEs. For more information, please visit www.on-us.com.
About Carbonbase
Carbonbase is building a climate and fintech platform that will facilitate sustainable transitions in order for enterprises and individuals to take effective climate action. Committed to building next generation carbon market infrastructure, Carbonbase aspires to employ 1 million people in carbon removal projects by 2030. For more information, please visit https://www.carbonbase.co/.
