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Business Initiative for Climate Friendly Finance

Brainstorm
 

WHY?

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  • Over $8.4 trillion in assets are held in 110 million 401(k) employee retirement plans across the United States.

  • The vast majority of the Americans who rely on ERISA plans to save for retirement do not even have the option of investing with companies best oriented toward a climate-safe future.

  • While the majority of retail investors want to be Paris-aligned, fewer than 3 percent of defined contribution plans offer a climate-friendly investment option.

  • Roughly, the average carbon intensity by laggard U.S. banks is 126 ktCO2e/$billion (so for each $1 billion deployed, these banks generate emissions comparable to about 30,000 internal combustion engine cars running for a year).

  • In February 2022, 13 of the world’s largest non-financial companies cumulatively held cash and investments that exceeded $1 trillion - these corporations’ cash and investments generate emissions at a huge scale.

  • The cash holdings of U.S. companies, including Alphabet/Google, Facebook/Meta, Microsoft, and Salesforce, are their largest source of emissions; increasing total emissions by 91% - 112%, when compared to most recently reported emissions.

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WHY?

 
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WHAT?

1. Assess and disclose the climate impact of corporate cash deposits and retirement funds within a period of three years.

2. Decarbonize bank accounts and employee retirement plans, starting with a group of leading U.S. companies.

Image by Annie Spratt
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Goals

 

HOW?

 

Available Opportunities

Banking Lead
​This is a special opportunity for an individual to help companies with the decarbonization of corporate cash. This will involve working with leading companies to support them in aligning their cash deposits and bank accounts with their climate commitments...

Retirement Savings Lead
This is a special opportunity for an individual to help companies with the decarbonization of retirement accounts. This will involve working with leading companies to support them in aligning their retirement accounts and solutions with their climate commitments...

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JOIN OUR TEAM

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CONTACT US

If you are interested in getting involved and staying in touch, please fill out this form:

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