Greening personal finances
Saving for ... a rainy day?
Why are greening personal finances a topic which is fast gaining traction on employee engagement initiatives?
Moving our money - what’s in our bank account, our savings and our pension - can be the single most important thing that people can do to save the planet. This can seem less intuitive than many of our current behaviour changes. But research shows that moving to sustainable finance alternatives could be more effective than impactful than recycling more, eating less meat and even flying less (combined). (Nordea Bank). Earlier this year, we also learnt that it’s more profitable, too (FT, 2020).
With green finance being one of the themes discussed at the highest levels of governments at the G7 in Cornwall last month, and also on the agenda for COP 26, it’s a topic which is gathering more focus than ever. Employees are starting to wonder how they too can align their finances to a low carbon world - whether that be through their workplace pension, what’s in their bank account or through their other savings.
And it’s more than ‘just’ an environmental issue - it’s a D&I issue too. Research shows that women are far less likely to talk about finances, engage with their pension provider or invest - leaving them with a huge gender wealth and investment gap later in life (Yougov, 2018).
Progressive CSR initiatives like ICRS Organisational Member O2’s are working on this issue. They recently hosted Values-Aligned Finance to talk to their employees over a lunch & learn session about how to align their finances to a low carbon world. In an engaging and accessible session Values-Aligned Finance explained the 101 of how to align your finances with your values - covering what impact bank accounts, pensions and savings are having on the planet - and how to make a change. In an informal setting, we help employees connect with this topic, and with each other.
“We hosted Francesca Spoerry of Values-Aligned Finance for a really useful and fascinating workshop on aligning our personal finances to a lower carbon world. I often find finance can be a topic that is left out of employee engagement initiatives or overlooked but it can have a huge impact on reducing employee footprints” ICRS member Elisabeth Rochford | Virgin Media O2, Partnerships & Innovation Manager – Corporate Responsibility & Sustainability.
Values-Aligned FInance are offering these workshops for a limited time only in the run up to COP 26 in November. If you are interested in learning more about how your staff can lower their carbon footprint through their finances, get in touch with Francesca Spoerry at firstname.lastname@example.org, or visit Values-Aligned Finance.
- YouGov, 2018: https://yougov.co.uk/topics/politics/articles-reports/2018/04/12/over-ha...
- Nordea Bank, 2017: https://www.nordea.com/en/doc/sustainable-finance-at-nordea.pdf