This is the biggest impact you can have on climate change
This is the biggest impact you can have on climate change
And it doesn’t need a lifestyle change
Shorten your showers, take public transportation, fly less.
We’ve all been told to do these things to mitigate climate change.
And all of them have a positive impact.
But they need a lifestyle change.
We need to step out of our comfort zones to get there.
I am not saying that we shouldn’t.
I am just saying that it’s hard.
But what if we could have a bigger impact by making a smaller change?
Nordea is a Nordic universal bank in Finland.
Its sustainable finance team did some research and found out the following-
Shorten your showers by two minutes each time – you save 1.06 tonnes of CO2 emissions
Take one less international flight per year – you save 18.93 tonnes of CO2 emissions
Take the train instead of the car – you save 26.73 tonnes of CO2 emissions
Eat only one piece of meat each week – you save 35.68 tonnes of CO2 emissions
While if you move your pension savings to sustainable funds – you save 2,222.67 tonnes of CO2 emissions.
That’s 27 times more impactful than the other four ways of reducing your carbon footprint.
Just by putting your savings into a green bank account or investing it in assets that are helping the planet heal, you can have a big impact.
And it doesn’t require any lifestyle change.
Green banking and sustainable funds provide you with the same experience as traditional banking.
You just need to make the move.
Here are 3 startups in different parts of the world that are helping you make an impact with your money.⬇️
This is how it flows…Let me just break this down for you. You deposit your money in the banks as a long-term investment. Banks circulate this money amongst industries, which include fossil fuel and carbon-intensive ones. So indirectly, your money is funding the fossil fuel projects around the world and you are part of the problem, unknowingly.
Money matters…The 6 largest banks in France have a carbon footprint that is 8 times that of the entire nation. And no, it’s not because of the emissions from their physical assets and employees. It’s from the investment that they have made in the fossil fuel companies. Helios is changing that by investing people’s money in industries related to the ecological transition- green energy, waste management, ecosystem conservation.
Customers pay a monthly fee of €6- no premium versions, no hidden fees.
This covers the Visa bank card, account maintenance, unlimited withdrawals, and transfers to accounts in the Eurozone.
Their bank cards are also made of cherrywood sourced from sustainable forests in Europe.
All in one place…Helios tracks your spending and calculates the carbon footprint of each purchase. The calculation is done based on greenhouse gas emission data from companies. The bank then even suggests ways to lower your carbon footprint. All this in a few clicks. Isn’t that amazing?
Beyond Stocks and bonds…What if you want to invest in alternate asset classes like real estate or energy? Traditionally, people with deep pockets have been running the show here. But fractional investing is picking up in India with startups like Strata, RealX, and hBits, allowing people to invest fractionally in real estate projects. But what if you want to do fractional investing that also benefits society and the planet?
Within your reach…In a developing nation like India, sustainability is still considered expensive or out of reach, and that’s logical (Maslow’s). But as the awareness rises and people have more disposable incomes, they are adopting a more sustainable lifestyle. And want their investments to be sustainable too. Pyse has captured that emotion and is helping retail investors invest in social impact projects- with smaller and affordable ticket sizes.
Retail investors can put as low as $100 in sustainable projects.
They can own fractions of solar power plants or electric vehicles and get monthly returns.
Pyse also provides a monthly impact score by tracking the social and environmental impact of your investments.
Some details…Sustainable projects are expensive. For alternate energy solutions like solar, wind, tidal, and geothermal, a large sum of money is required to make them operational. Pyse gets HNIs to invest this amount and once they are up and running and can generate yield, they open it up for retail investors.
Who’s responsible?… Since the Paris Climate Deal of 2015, coal, oil and gas firms have received $3.8tn in finance. And where has that money come from- the world’s biggest 60 banks. Out of these 60 banks, 13 are in the US and Canada- but they account for half of the fossil fuel financing. JP Morgan Chase tops the list, providing more finance than any other bank.
Like Helios in France… Ando Money is providing sustainable banking in the US. Unlike traditional banks, instead of investing your money in fossil fuel projects, Ando invests it in green initiatives like renewable energy and responsible agriculture. Their mission is to provide customers with an easy way to fight climate change without ever sacrificing the features and security they expect from a modern bank.
Ando does not have a minimum opening deposit or monthly service fee.
The deposits are safe and secure like they are in a traditional bank.
If you invite more people to the platform, you can boost your savings and impact- Grow Your Savings™ program.
Stats don’t lie…Ando’s platform has an impact center where you can check the impact of your deposits on the environment. It is shown by the number of trees (Ando doesn’t actually plant trees) which are symbolic of your impact. If your friends and their friends join the platform from your referral, you can also see their impact. Ando also breaks down how your deposits are being used.
Want to start the journey of green banking?
This could be a great first step-
Also, check out this list to find out green banks in your country
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