For the first time, UK retail investors can offset the carbon impact of their investments
London, UK, 2021: Green fintech Sugi has launched a feature enabling users to offset the carbon impact of their investments.
The new feature, a first for UK retail investors, allows users to offset an amount directly related to the impact of their own investments. Users can control how much they offset by targeting specific investments or offsetting their entire portfolio, as well as keeping track of their offset history.
Investing exclusively in low-carbon companies is not always possible or desirable, and many companies are on a long-term path to reduce their carbon emissions. Sugi’s new feature lets investors take positive climate action now while maintaining a diversified portfolio.
Since launch, the app has continued to build its offering to help retail investors make greener choices. Initially enabling investors to check the carbon impact of their holdings and compare with similar investments, the app released a feature in March allowing users to monitor the global warming potential of their portfolios, all firsts for UK retail investors.
The fintech has partnered with Ecosphere+ to offer verified carbon credits generated by forest conservation projects. The credits are certified by Verra’s Verified Carbon Standard, the world’s most widely used voluntary greenhouse gas certification programme, demonstrating that emissions have been reduced and the underlying projects deliver lasting climate benefits. These credits are also verified by the Climate, Community and Biodiversity Standard, which certifies wider project benefits beyond emission reductions, specifically biodiversity conservation and the empowerment of local communities.
Sugi plans to introduce a number of additional features and metrics this year.
Josh Gregory, CEO and Founder of Sugi, commented:
“We recognise that there are a number of valid reasons for investors to have holdings in higher carbon industries, which is why we’re enabling investors to rebalance their impact through our new offsetting feature.
“Offsetting in any capacity doesn’t let companies off the hook. The pressure still remains on companies to decarbonise their operations and value chains. It does however give investors the option to take climate action now, should they wish to. It’s just one of many features we’ve got planned to make it easier for everyday investors to engage with greener investing.”
Lisa Walker, CEO of Ecosphere+, commented:
“We are thrilled to be partnering with Sugi to enable greener retail investing in the UK. With the recent IPCC report exposing the true severity of the climate and biodiversity crisis, UK retail investors will increasingly be looking for ways to take immediate action on the journey to net zero. Sugi’s timely feature is therefore well placed to have an important impact on climate and nature, and we’re excited to be on this journey with them to capture new channels of finance for the carbon projects we represent.”