Today marks the launch of a national Move to Green campaign. There is a new urgency to tackling climate change before it’s too late - and we believe it’s important Americans be able to ensure their money is aligning with their desire to help, not hurt, the planet.
Our new Move To Green (http://www.movetogreenmoney.com) movement is asking 1 million Americans to take action by committing to move their money out of fossil fuel-funding Big Banks, and into environmentally friendly alternatives. It features a simulator that illustrates the impact of individual money decisions on the environment, a new animated cartoon educating people about what the dollars they deposit in a Big Bank may be doing, and a set of campaign tools for Americans to enlist their family, friends, and neighbors to join in committing to move their deposits out of fossil fuels.
In the 3-year period since 2016 (the year of the Paris Climate Agreement), big banks like Wells Fargo, Chase and Bank of America have used the deposits of millions of Americans to help them finance over $450 billion of fossil fuel company and project funding needs. They lend their customers’ money into projects like coal mining, coal plants, tar sands, mountaintop removal mining, oil drilling, and removing rainforest to drill for fossil fuels.
In the meantime, an increasing majority of Americans (72%) are saying climate change is an important concern. The Move to Green movement will educate people on how they spend, save, and invest can underline -- or undermine -- their ethical and environmental values.
“Focusing on sustainable giving and donating on Earth Day each year is great, but we want to make the conversation last more than just a day,” said Aspiration co-founder and CEO, Andrei Cherny. “People have the power to help fight against the destruction of our planet by spending, saving and investing sustainably. Unfortunately, Wall Street and Big Banks use their customers’ money to fund projects that harm the planet. And, also unfortunately, a lot of people consider what kind of cup they get at their coffee shop but don’t think twice about paying for it with their Wells Fargo card. It’s important to educate people about what their money is doing. We can really make a difference before it’s too late and so I’m excited Aspiration is launching this campaign to get America to commit to Move to Green.”
To encourage people to share the movement, Aspiration has also committed to planting trees and providing other rewards as people commit to moving their money and enlist their friends and co-workers. The more people who join the movement, the more trees that Aspiration will plant in forests all across America, to help significantly reduce levels of CO2, help water quality, improve soil strength and preserve animal habits - all while showing the strength of the movement to Move to Green Money.
Time is running out, and we’re going to do our part to help you fight climate change with your money. Every successful movement starts small and grows on the strength of people who care. Let’s make this happen together.
*The Aspiration Spend Account and the Aspiration Save Account are part of a cash management account offering of Aspiration Financial, LLC (“Aspiration”), an SEC-registered broker dealer. After the close of business each business day, the cash balances in the Aspiration Spend and Save Accounts are swept to an account at one or more federally insured depository institutions (each a “Bank”). The deposits at the Banks are eligible for insurance by the Federal Deposit Insurance Corporation (FDIC), subject to FDIC insurance coverage limits. For more information about FDIC insurance coverage, please visit the FDIC website. As stated in the Aspiration Financial, LLC Customer Account Agreement (Customer Account Agreement), customers are responsible for monitoring their total assets at the Bank to determine the extent of available FDIC insurance. FDIC insurance coverage is in accordance with applicable law and regulations, including the FDIC’s laws and regulations relating to “pass-through” federal deposit insurance treatment. A list of the current Aspiration Insured Bank Deposit Program Program Banks is available here. The names of the current Banks that maintain the Aspiration Spend and Save Accounts are made available within your periodic statements and may vary over time. Deposits at the Banks are not eligible for SIPC coverage. Aspiration Spend is a non-interest bearing account with electronic transaction functionality. Aspiration Save is an interest-bearing account. Full disclosure about Aspiration Spend and Aspiration Save is available in the Spend & Save Supplement to the Customer Account Agreement. Investments placed in the Redwood or Flagship Funds available through Aspiration are not eligible for FDIC Insurance, are not bank guaranteed and may lose value.
1Ran.org Banking on Climate Change Report Card 2019.
Aspiration Financial, LLC is an SEC-registered broker-dealer and member FINRA/SIPC. Aspiration Financial provides brokerage services and securities products. Its affiliate company, Aspiration Fund Adviser, LLC, an SEC-registered investment adviser, provides investment advisory services. Aspiration Fund Adviser, LLC and Aspiration Financial, LLC are subsidiaries of Aspiration Partners, Inc. Neither Aspiration Partners, Inc. nor any of its subsidiaries is a bank. Aspiration pledges to donate 10% of our profits to charities.
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"Big Banks" refers to the largest consumer depository banks in the country.
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