A new marketplace has developed a scoring system that allows consumers to see at a glance which products are truly sustainable
Spotted: Marketing language is increasingly full of sustainability claims, but it can be difficult for consumers to find information and data to cross-check a product’s green credentials. In fact, it can be both difficult and expensive to conduct an environmental impact measurement for individual consumer products, meaning they are out of reach for most businesses. Now, climate-tech company Dayrize has developed a platform which can rapidly and cost-effectively evaluate the environmental impact of consumer products.
Dayrize’s Sustainability Assessment Tool uses geospatial analytics, datasets, and a complex algorithm to collect and cross-reference information for individual products and calculate a score out of 100, called the Dayrize Score. This score allows consumers to easily understand and compare the sustainability of products as they shop. The Dayrize Score is based on factors that include circularity, climate impact, impact on wellbeing and livelihoods, ecosystem impact, and the product’s potential for good.
The company provides brands with a consumer-facing widget they can use to display the Dayrize score and sustainability credentials on their website. The widget includes the Dayrize score icon, and lists the water, land, and CO2 impact of each product. The company also provides a marketplace where consumers can shop for products by comparing their Dayrize scores. Every brand on the marketplace is hand-picked by the Dayrize team for its commitment and efforts towards sustainability.
Austin Simms, co-founder of Dayrize explains that the company believes, “you cannot change what you can’t measure. Dayrize brings a high level of transparency to the environmental and social impact of products that helps businesses reduce their planetary impact and helps consumers make better informed, sustainable choices.” Brands who partner with Dayrize also receive informations and insights on ways to reduce their impact, improve the sustainability of their products and raise their Dayrize Score.
All too often, sustainability is used as a marketing buzzword, rather than a meaningful measurement of value. And Dayrize is not the only company that is working to change this by increasing transparency. At Springwise, we have recently spotted other innovations that boost transparency on sustainability issues, not only from a consumer standpoint but also from the point of view of other stakeholders. These include a platform for verifying progress against net-zero pledges, and free software tools for ESG investment.
Written By: Lisa Magloff