Five companies are working together to make a real difference in climate change by helping each individual take climate action. Carbon Collective, GreenPortfolio, Raise Green, Joro, and Atmos Financial announced August 29th they are launching a Sustainable Finance Toolkit leading people on how they can reduce their carbon emissions.
The Sustainable Finance Toolkit helps individuals align their climate with their financial goals. The five companies offer critical financial services that raise awareness about the importance money has over the climate crisis.
According to Paul Moinester, Executive Director of the Outdoor Policy Outfit – a non-profit “think and do” tank supporting climate solutions, banking and investing are one of the most heavy-emissions activities.
They are also one of the most important environmental and social decisions a consumer or businesses can make to reduce their carbon footprint. According to Mr. Moinester, an average individual in the US has an annual carbon footprint of around 12-16 tons of CO2. While getting solar panels and driving an electric car can significantly decrease that number, it turns out redirecting your money can cut it even more.
A $125,000 in a bank account in cash and short-term assets at a mainstream bank like Citi or Bank of America can generate around 16 tons of CO2 per year. That is because banks lend that money to heavy-emissions generating companies like fossil fuel giants. So it turns out the biggest impact a consumer can make is not through the house, car, or travel habits but through its money.
Carbon Collective, Green Portfolio, Raise Green, Joro, and Atmos Financial are organizations that can take control of people’s finances and transform them into a vehicle for climate change solutions.
Carbon Collective helps clients build a complete investment portfolio that supports only real climate action-driven companies and delivers competitive financial returns. Raise Green is an investment marketplace that drives money into climate change solutions. With an investment of as little as $100, people can help scale important impactful technologies.
The GreenPortfolio offers a proprietary rating system that can score the positive and negative climate impact of your bank account or investment portfolio. It brings clarity on whether you are a backer of fossil fuels activities or an investor in green solutions.
Atmos Financial is a bank aiming to revolutionize the way deposits are used. The bank uses 100% of people’s deposits to support renewable energy projects and directly reduce climate emissions at the source. It solves the problem of deposits being used to finance fossil fuels pipelines and drilling actions without people even being aware of it.
Joro offers a mobile app that helps people track the emissions of everything they buy. Joro tracks, reduces, and offsets the emissions of purchases so consumers can build a carbon intuition about how to decarbonize their food, shopping, travel, homes, and finances.
The Sustainable Finance Toolkit includes critical information and calls to action on how individuals can make a real climate impact. Directing people’s money away from emissions-generating activities and towards supporting climate change solutions is the biggest climate action that can actually shift the world towards a sustainable path.