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  • Jazgul Ismailova

Sparla on sustainability

One advantage of starting a company from scratch is the chance to build a future-fit sustainable startup. No need to adjust operating models, company culture, or increase costs for the climate compensations - it allows us to make it right from the start.  

Sparla's mission is to break the curse of overconsumption. By helping people to take control of their personal finances and rein in their spending, our bigger goal is to contribute to more sustainable consumption.

Sustainability for us starts with John Elkington's triple-bottom-line approach framework to how we do business: having in mind people, planet, and profit. We commit to applying a revised version of the TBL, where we weave sustainability into our business DNA, having the UN's Sustainable Development Goals as our North Star. Our aspiration is to be part of the Green Swan movement for radically better times to come.

Sparla's sustainability strategy


Planet

  • Carbon-emission compensation programs can be expensive and not viable for an early-stage startup. We choose a straightforward and transparent approach: to donate 10% of our profits to support Sustainable Development sub-goal 15.2. Our partner in fighting climate change is Vi-Skogen, a Swedish NGO active in East Africa, who stands at the forefront of the agroforestry practice. Agroforestry is the method of planting trees and crops together to fight poverty and mitigate climate change – both causes are close to our hearts.

  • To raise awareness and the adoption of a circular economy, we will cooperate with circular brands. Our customers will benefit from exclusive offers that help both their wallet and promote more sustainable consumption.

  • To keep our environmental impact to a minimum, we commit to using sustainable alternatives in everything we do and maintaining costs from our operations to a minimum by, for example, using recycled furniture and office machines.

People

  • According to our quantitative research conducted in February 2020 (Sweden, Norstat panel, 1000 interviews, the general public), 51% of young adults in the 18-25 age group find it complicated to make money last. The key reasons for this are bad planning habits, new life situations, and easy consumption. In this age group, the results are significantly higher among women: 61% vs. men: 44%. Young women experience higher anxiety when it comes to personal finance: 46% vs. men: 29%. To tackle this gap, we are developing Sparla services around our core target group - young women who value guidance and simplicity when it comes to personal finance management.

  • We are customer-obsessed. We commit to building a long-term relationship with our customers, having their needs and interests first when developing new products and services. Moreover, we are firmly committed to safeguarding our customers' privacy and integrity.

  • We commit to inclusiveness, equality, and fairness in how we treat and hire our employees, consultants, and other stakeholders.


Profit

There is growing evidence that purpose-driven companies outperform traditional companies in profitability. According to new research, companies that commit to ESG outperform traditional market benchmarks

  • We believe in transparency. We will inform our customers of all our revenue sources to avoid conflicts of interest.

  • We are cost-conscious in everything we do and will commit to delivering ROI for our investors and stakeholders.

  • Finally, we commit to putting Sparla's long-term interests over short-term profit requirements. We will have this long-term commitment in mind when raising capital.


Sparla is launching in Sweden in 2020. We are looking for cooperation with circular brands and investors who share our vision. Please contact us at hello@sparla.co. If you want to be among the first to test Sparla, please sign up at sparla.co.


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