Green up your money game 🌏
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Earth Day 2023 falls on April 22nd and this year's theme is 'Invest in our planet'. It's a great theme and something we can all embrace in a wide variety of ways.
Take a seat, get comfortable and let's look at some of the ways you can support the Earth – and you'll be amazed at the things that will make the most difference.
Invest in our planet, invest in your future
Is pension planning in a drawer marked 'future' for you? It is for many, but now is the perfect time to take it out and look again. Not just because April is the start of the new financial year, so you may have new allowances to put to good use, but also because how your pension is invested can impact the planet for years and years and years.
In fact, making your pension greener would be 21 times more effective at cutting your carbon than becoming vegetarian, giving up flying and changing your energy provider combined, according to the Make My Money Matter campaign. Just think about that for a moment.
At the end of 2021, global pension funds were estimated to be worth US$60tn, an amount of money invested in companies and projects that work to ensure the planet's future, which could significantly impact climate change. But only if we all take the time to look at our pension funds to be sure they are invested sustainably.
£1.6million in investments moved for the planet by Money Movers
If you want to make a move to a more sustainable investment and do it with friends, then take a look at Money Movers. Born out of a Friends of the Earth experiment, it is a programme of peer-led learning and support for women, helping them change their finances.
Women can volunteer to host the programme, and then, having been training, you invite friends and family to join you for the learning sessions. Here you can discuss, explore and support one another as you all take control of your finances.
And if you think the model sounds familiar, then it is. It's been used in the networking marketing world for years. Tupperware parties, Ann Summers evenings, and many more use this concept.
It has always been particularly popular with women because they like the opportunity to come together for community and learning. The difference here, of course, is that there is no selling – only education and support.
ESG scores – a handy tool for sustainable investment
Did you know there is a scoring system for investment funds and companies?
Investors and fund managers assess companies they consider based on environmental, social and corporate governance (ESG) criteria. These could include clean technology, policies regarding pollution, conservation and use of natural resources.
The company structure is also important – for example, how diverse is the board of directors? Socially, how does the company treat its workforce?
ESG categories are scored by various third parties, and adding these up will give you an idea of which firms tick the right boxes.
Sustainable investment should also result in good financial performance. So, if you're looking to switch your portfolio to a more sustainable mix, ESG scores can be helpful, but watch out - some scores are based on publicly available information regarding environmental, social and corporate governance, which actually bypasses the product the company makes!
A great score might mean something other than a sustainable central business model.
More grants to improve the energy efficiency of your home
The UK government's ECO (Energy Company Obligation) launched its latest project phase this month, ECO+. Running runs until March 2026, the £1bn scheme aims to help households with the costs of installing more efficient insulation – improving sustainability and reducing energy costs.
To qualify for a grant, you must live in a home in council tax bands A-D in England (A-E in Scotland and Wales) with an Energy Performance Certificate of D or below.
There's a lot of information about the ECO+ programme (this is a good start), and we recommend reading as widely as possible.
Live webinar:
The Impact of Sustainable Fashion
Join us on April 19th at 7:30pm UK time for an exciting live webinar featuring Sophie Benson, a freelance journalist focusing on sustainable fashion, environmental issues, and consumerism. Sophie will reveal valuable insights on how you can shop sustainably while positively impacting both the planet and your wallet.
This exclusive webinar is free for our Premium users and just £4.50 for everyone else. As an added bonus, purchasing access to the webinar will grant you one month of free access to our Money School. Secure your spot today by clicking the link below!
Recommended by LinkedIn
Figure of the Week
73% of the UK Public believe we must invest in long-term solutions to protect the planet
According to research by Triodos Bank, three-quarters of the population is frustrated by the high costs of living while the leading financial institutions continue to post huge profits.
They want large organisations to put their money to better use for the long-term future of all rather than continuing to support practices which rely on fossil fuels and other less-sustainable activities.
Boost your sustainable investing with the Smartpurse MoneySchool app
Investing can be overwhelming, but fear not! Our Money School is here to help you navigate the world of finance with confidence and a smile.
Our bite-sized modules on investing, pensions, and sustainability are designed to fit your busy lifestyle and leave you feeling empowered.
Also, knowing that learning about money management can be a snooze-fest, we've added some excellent tools like checklists, calculators, glossaries, and FAQs to spice things up and make the journey more enjoyable!
Meet the expert – Nick Ashwell
Complex financial situations can be very stressful, but Nick Ashwell prides himself on taking a calm, empathetic approach to multi-layered financial circumstances. As a highly experienced chartered financial planner, Nick will work alongside you and discuss your unique financial situation to help you determine what to prioritise and identify and achieve realistic goals.
Nick is passionate about the planet and making a difference and will help you if you want to make a more sustainable impact with your investments (from impact investing to philanthropy).
To find out more about Nick and the support he can offer you, click here.
The latest buzz on sustainable investing
The 6th Sustainable Investor Summit in Zürich was a success!
Professionals tackled sustainable investing's aspects and highlighted a dynamic panel on diversity in the workforce, with our CEO Olga Miler and a team of experts offering solutions to the lack of female role models and diversity.
Looking to make a positive impact on the world while growing your wealth? Our sustainable investing course with financial and sustainability experts Jessica Robinson and Olga Miler is just what you need! Discover the secrets to maximizing your returns while saving the planet. Sign up now!
Money Inspiration @smart.purse
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