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Forget COP26, here are the four fintechs making a real difference
How can our investments make a positive impact on the environment? These fintechs have the answers.
Over the past two weeks, world leaders have been gathering in Glasgow to talk about how we can better tackle climate change and fintechs have been long ahead of the curve.
In the last fortnight alone, we’ve seen fintechs continue to push the green fintech agenda.
On the first day of COP26, eco-conscious debit card Ekko launched, which will pay for an ocean-bound plastic bottle to be collected and every 50 transactions it pays for a tree to be planted and maintained.
Starling Bank announced that it is set to offset carbon emissions from its own operations by the end of this year, well ahead of schedule and Standard Chartered, which is regularly targeted by climate protesters, launched its own green fintech brand, Shoal.
Even more recently, notorious environmentally-friendly fintech Bunq announced that its users had planted more than five million trees across Kenya and Madagascar.
But one area of fintech that is pulling ahead in the race to go green is the world of eco-conscious investing.
So here is a non-exhaustive list of green investment fintechs helping to tackle climate change.
Clim8 Invest
Unlike other investing apps, Clim8 Invest makes sure that its users do not invest in anything that could have a negative impact on the environment.
Customers can invest in sectors such as clean energy, clean technology, sustainable food, smart mobility and recycling.
As it stands, Clim8 offers a general investing account as well as a standard stocks and shares ISA.
Having raised nearly £12m to date, Clim8 is on the path to changing how consumers invest for the better.
Moneybox
Moneybox is another investment app that is leading the charge for greener investing.
The savings app allows its customers the option to invest in ESG-compliant funds, making their portfolios more environmentally friendly.
One of its more popular products is its Socially Responsible pension, which offers a more eco-friendly investment option. The pension is not completely fossil-fuel-free, so if you are looking for a completely fossil-fuel-free option you should turn to...
PensionBee
Another green pension on the list is the fossil-fuel-free pension from digital pension provider PensionBee.
Nearly exactly a year ago, the fintech announced that it was gearing up to launch the eco-conscious pension but needed a £100m commitment from its customers to do so—with it reaching its target just 34 days after the announcement.
PensionBee’s eco-friendly pension pot excludes companies with oil, gas and coal reserves from their investments as it looks to support its environmentally-conscious users.
Sugi
Consumers might think that investing in greener portfolios is enough to say they’re a green investor, but how can they actually check? That’s where Sugi comes in.
The Moneyhub-powered portfolio checker allows retail investors to check the carbon impact of their investments and compare investments with industry benchmarks to help them build a greener portfolio.
Sugi even checks if a customers portfolio is in line with the Paris Agreement global warming target of 2°C.
Recently, the fintech launched its own carbon offsetting feature allowing customers to offset the carbon impact of their investments.
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