Investment checker app launches tool to check the temperature of your portfolio
Sugi will allow users to check if their investment portfolios are aligned with the 2°C increase laid out in the Paris Agreement.
Through using open banking technology, Sugi can connect to mover 80 investment platforms to enable users to check just how green their investments are.
The average equity investment portfolio is currently aligned with a 3°C global temperature increase, but, with the Paris Agreement setting out targets for one degree lower, users are keen to check if their investments are on track.
Josh Gregory, CEO and founder of Sugi said: “By shifting our investments to green, everyday investors can take control, driving change in the investment industry and corporate behaviour to make a real difference. But we can only do that with the right information. At the moment, none of us has any idea about the real impact our investments have on the planet.”
“With Sugi, UK retail investors can see how much their portfolios contribute to global warming and the difference between what companies say they’re doing to combat climate change and what they’re actually doing. More importantly, we can all use that information to make greener choices when managing our finances.”
Gregory added that global emissions need to be halved by 2030, with a goal of being net-zero by 2050, but recent pledges only reflect a one per cent reduction in that time frame.
Even as part of the Paris Agreement, a 2°C increase is the upper limit, as anything higher than that and we risk uncontrollable global warming.
Sugi’s portfolio temperature checker is available to all users from today, with the investment checker app set to launch new features in the coming months to help everyday investors reduce their carbon impact.
Other fintechs are flashing their green thumbs too—Moneybox has a Socially Responsible Pension as well as other sustainable investment options, PensionBee is in the process of launching a fossil-fuel-free pension fund and Dutch challenger bank bunq has planted over 2.1m trees on behalf of its customers.