Blog

Climate Emergency

one_small_step_blog_header

One small step for you, one giant impact for humankind

If you could only do one thing to minimise your ecological footprint, what would it be? There are so many options, and whilst it is good to have choice, we can find ourselves paralysed by the sheer amount of choice. We elect to use glass bottles instead of plastic, before hearing that this generates more emissions in transport; we buy products accredited as containing sustainable palm oil before discovering we have been<a href="https://www.thenation.com/article/archive/big-business-has-a-new-scam-the-purpose-paradigm/" target="_blank" rel="noopener"> deceived</a>; we recycle, before finding out that much of this is ending up in<a href="https://www.independent.co.uk/news/uk/home-news/recycling-waste-uk-overseas-landfill-pollution-nao-environment-defra-a8458991.html" target="_blank" rel="noopener"> landfill</a> on the other side of the world.
Whilst it is important to do our research and make the right decisions where we can, wouldn’t it be nice if there was a quick fix out there, where a one-off decision could outsource some of that eco-stress to the people with the time and expertise to see the bigger picture, ensuring maximum impact with minimum effort?
Well, it turns out there are, none more so than:

Since the Paris Climate accord in 2015, banks have invested <a href="https://www.ran.org/wp-content/uploads/2020/03/Banking_on_Climate_Change__2020_vF.pdf" target="_blank" rel="noopener">$2.7 trillion</a> in fossil fuel companies (to say nothing of tobacco, arms, gambling and other dubious investments). And unless you are explicitly invested in an environmental scheme, this likely includes<a href="https://www.greenpeace.org.uk/news/barclays-banks-climate-change-fossil-fuels/" target="_blank" rel="noopener"> your money</a>. Conversely, it is estimated that it would cost about<a href="https://ourworldindata.org/how-much-will-it-cost-to-mitigate-climate-change" target="_blank" rel="noopener"> $300 billion of investment</a> per year to prevent runaway climate change by the oft-cited cut off point of 2030 (so, about $1.5 trillion in total). Strange how we continue to damage our planet almost to the exact extent that we need to do just the opposite. But it at least makes the solution fairly obvious: reinvest the money currently supporting climate-damaging activities into those that support our planet’s health.
Despite being the driver behind so much destructive activity, finance often slips under the rug as a point of focus for those who care about the climate. Because we do not see what our finances are doing on a day to day basis, we do not associate them with the havoc they can cause. But just as factory farms were causing environmental (as well as animal) harm before the public had any idea, so too your finances. In fact, because of the relative wealth of the average western citizen, the choice you make regarding how your money is put to use is likely the most powerful one you can make in terms of your relative impact as an individual.
A common argument is that green investments are riskier, constituting a new and unpredictable market built around unproven, fledgling companies and technology. But this is not born out on the level of data or common sense. Traditionally, fossil fuels have been considered a safe investment because the industrial-era economy was based upon them. But this is beginning to change. As the connection between our economy and the broader ecology on which it is dependent becomes more and more stark, investors are waking up to the unsustainability and counterintuitiveness of deleterious investments and beginning to redivert finance in more positive ways. It is estimated for example that the $380 billion California state pension fund lost out on<a href="https://fossilfreeca.org/2019/11/11/study-ca-and-co-pension-funds-lost-billions-on-fossil-fuels/" target="_blank" rel="noopener"> $12 billion dollars</a> because of its decision to uphold investments in fossil fuels over the last ten years. And there is growing evidence to suggest that ESG investments generally (those that look at environmental, social and governance  metrics of company performance, as opposed to merely financial) are<a href="http://www.apple.com/uk" target="_blank" rel="noopener"> outperforming conventional investments</a>. 
Another common argument against shifting our finances is that it’s a lot of effort. But whilst the initial cognitive load of researching your options may seem large, the benefit is that, once we’ve made the switch, our finances do the work for us. For most of us, our interaction with our finances constitutes little more than an occasional balance check, so in terms of our day-to-day, investing our money for good requires very little from us. Moreover, with the migration to online (as opposed to high street) financial services, the process takes less time than ever before. No action for the climate comes without effort, but they don’t come much easier than this, especially considering how far that one action can go. 
Of course, the subject is vast and there is no substitute for doing your own research. Whilst this article makes no claim to offering any financial advice, here are a few places to get you started:

artboard-1-copy-9

Artboard 1 copy 9

The last year has seen a range of banks announcing new climate change related products, from Natwest offering the UK’s first <a href="https://personal.natwest.com/personal/mortgages/mortgage-types-and-rates/green-mortgages.html" target="_blank" rel="noopener">‘Green Mortgage’ </a>to the recently licensed <a href="https://www.forestcarbon.co.uk/our-partners/oxbury-bank" target="_blank" rel="noopener">Oxbury Bank</a> offering the first ‘carbon offset savings account’. But the bank which has always had the climate and ethics at its heart is <a href="https://www.triodos.co.uk/">Triodos</a>, an ethical bank which uses the UN’s sustainable development goals as a yardstick for which companies it invests in. Rather than just avoiding harmful investments (eg tobacco, arms) they actively invest in communities, renewable energy schemes, sustainable food production and social enterprises generally. Their Energy Transition fund alone removed 60,000 tonnes of CO2 from the atmosphere and powered 30,000 homes with renewable energy.
If none of those feel right, you can find other options <a href="https://www.curiouslyconscious.com/2020/02/best-ethical-banks-current-accounts-uk.html" target="_blank" rel="noopener">here</a>

For many of us, our pensions are the largest investments we have. In the UK alone, pensions account for <a href="https://makemymoneymatter.co.uk/" target="_blank" rel="noopener">£3 trillion</a>. But most of us are enrolled by our employers into a default fund, tending to invest in FTSE 100 companies without considering their carbon footprint. According to Good with Money’s Good Guide to Pensions, “nine times out of ten, pension savings are going into tobacco firms, oil and gas majors, mining, big pharma and big banks: social, climate and environmental breakdown, in other words.” This makes it essential that we take control of our pensions and redivert our investments to combat climate change. The easiest option is <a href="https://www.pensionbee.com/fossil-fuel-free-pension" target="_blank" rel="noopener">Pension Bee</a>, who have a range of environmentally friendly pension funds and provide an automated service which allows you to pool all of your previous pensions under one green plan. One option is their Future World Fund seeks to engage with fossil fuel companies and pressure them into divestment, whilst another is their Fossil Fuel Free fund automatically screens such companies from the outset. Aviva has also set a target of 2050 for its own auto-enrollment pensions to be carbon neutral. Whichever feels right to you, It really can take just a matter of minutes to make an impact that could last for generations. (To understand more about how our pensions are invested and what options you have, take a look at <a href="https://makemymoneymatter.co.uk/" target="_blank" rel="noopener">Make My Money Matter</a>)

artboard-1-copy-12

Artboard 1 copy 12

Whilst these low-effort, high impact solutions are addressed to individuals, they apply equally for businesses. Not only should any climate-conscious business seek to ensure their pension schemes are not harming the planet as indicated above. But simply by virtue of their size, finance isn’t the only easy win with significant consequences. Businesses account for <a href="https://www.moneysupermarket.com/gas-and-electricity/business-energy/a/renewable-business-energy/?__cf_chl_jschl_tk__=685a0262b7b872efb4b30d7fd88a14fa887b7e12-1609756959-0-AStc3cQp8rdo_zmmHfZoKzVefaR6yX8nrL0Br62FsqEHVJqTMc7zwvL69G7bkU4IGPu_fJ8FNhEdLs2dLHKC7DlZ_3SRQT0RuV3CsT5dkuAj0xn34tD15Mp3P6fZWI4gcwnqS1GZCxCzRtrJG5AnNngg3GXxS3rcHETyGXzHt5XA18DD9jAQ4Z1nZo0nT6d-XEiyz-gZLO4j8gEYPvw9F1-ergIV9z4QuXxhl4-UsNdq6sncz9d8sWjykuPe2-dJfVZT6m5EEs7a-UoS3jYjA0-vjIhJ2DrSvJL6Jp6VE97qOk2OvLzAwCV7JCuAoRWKRLmEPChKNqNQANsYVzeI6av4PrDqERRlGNjs6FuGFwS2zUfCmBVfD9dwLN0ypXHIhKNAw55mqNww881jfnbBamtI_vh9p5EhuAbjgVsGTHADFSwhv0mWBuUEd8VZZ725NQEE6UAl4ZCPuo3FXRgFmwU" target="_blank" rel="noopener">56%</a> of the UK’s energy consumption, so switching to renewable energy companies such as <a href="https://bulb.co.uk/" target="_blank" rel="noopener">Bulb</a> or <a href="https://www.ecotricity.co.uk/" target="_blank" rel="noopener">Ecotricity</a> can make a massive difference. Similarly, businesses produce a huge amount of waste, so you might consider using sustainable waste management services such as <a href="https://thefirstmile.co.uk/" target="_blank" rel="noopener">First Mile</a>, who recycle all possible waste and convert the remainder to be used for tarmac.

artboard-1-copy-10

Artboard 1 copy 10

Whether as individuals or businesses, every decision we make has an important part to play in the fight against climate change, from what we eat to how we shop and travel. But through our investments we can support all of these areas, from green infrastructure, to investment in the natural world and renewable energy. Through your finances you are not only the consumer but the investor, creating pressure from both sides. So take ten minutes out of your day today and see how your finances could start doing some of the heavy lifting for you. To learn more about how businesses can help, visit our <a href="https://ecologi.com/">carbon offsetting for business</a> page.

Updates

investment_blog_header

Investment_Blog_Header

At Ecologi we’re often reaching for the celebration klaxon for our community’s impact milestones, but it’s a little different this time around.
Today, we’re pleased to announce that we’ve taken on £4m ($5.7m) of investment led by <a href="https://www.generalcatalyst.com/">General Catalyst</a> to follow our dreams and grow Ecologi to the scale needed to take on climate change in a significant way.
General Catalyst has a knack for turning their investments into household names: AirBnB, Deliveroo, Snapchat, Stripe, and Monzo to name just a few.
We know there’s room for the Spotify of Sustainability, and it’s with the resources of a leading investor that we can make this a reality, in a timeframe suitable for turning the proverbial Titanic around and reversing climate change over the critical decade ahead.
Before we started Ecologi, the idea was that we’d be set up as a non-profit organisation. Our mission is altruistic and that non-profit model aligned with our vision. As half of the world’s emissions have happened within the <a href="https://ieep.eu/news/more-than-half-of-all-co2-emissions-since-1751-emitted-in-the-last-30-years">lifetime of a 30-year-old</a>, there isn’t the luxury of time to grow traditionally through donations and slower ‘organic growth’. But, it didn’t take long to understand that to achieve Spotify-level scale, then you need Spotify-level capital to fulfil our potential impact.
It’s not just a sum of money that we were looking for, but a partner who wholly understands the delicate conditions which Ecologi needs to thrive: putting the planet first; complete transparency; keeping operational costs minimal; and staying ethical (see our decision to <a href="https://www.linkedin.com/pulse/withdrawing-tech-nations-net-zero-elliot-coad/">withdraw from TechNation</a>).
Amongst 50 or so investors we spoke to, it was General Catalyst who fully understood this ethical tightrope with our long term plans to raise the bar on what it means to be a social enterprise. They gave examples of supporting one of their investments to donate over <a href="https://www.warbyparker.com/buy-a-pair-give-a-pair">eight million prescription glasses</a>; they set up a non-profit fund with excess profits from an ethical investment; also they understood that the future of Ecologi should be part-owned by our community via crowdfunding &#8211; an exciting development to own a stake in Ecologi and our planet too (more details at the end of this post).

investment_blog_how_its_going

Investment_Blog_How_Its_Going

As we approach our 2nd birthday, we enter a new chapter with Ecologi that will be characterised with scale. Up to now, everything has been done on the tightest of budgets with our wonderful but tiny team. We look forward to progressing our climate impact exponentially as we race towards our target to reduce 50% of global emissions by 2040.
There is plenty we have in store. We want to actually show you the impact you’re making through storytelling and technology. We want to support projects that rewild our planet and fund innovative carbon removal technology. We want to show you your carbon footprint in real-time. We want to make good on the opportunity that can come out of rounding up the world’s pocket money and putting it into the world’s most impactful climate solutions.
Now we can, so no excuses! Let’s grow. 🌿
From Elliot, Lucy, Alex and the team here: thank you for your part in supporting this ray of climate hope 💚

blog_divider_mushroom

Blog_Divider_mushroom

We showed a draft of this announcement to a few of our Ecologi subscribers and friendly critics and asked them what questions they had:
What will you spend the investment on?
Now’s the time to scale up our teams to enhance the platform, grow our climate projects procurement and reporting team, and expand our marketing and partnership teams. We’ll be a company of 40-60 people over the next 12 months. 
The investment will also allow us to buy larger quantities of certified carbon offsets and tree purchases upfront meaning we can plan better, get access to some projects we’d otherwise not be able to, and sometimes access better prices.
Some of the existing staff will be now paid the going rate for their level of expertise. None of the investment is to go on bonuses or dividends. 
Will we still operate Ecologi as we have done?
Absolutely yes.
If we are to be massively successful in our objectives it’s because we took on board everything that you needed us to be.
Is the source of the investment from profits of fossil fuel or high carbon industries?
No. It’s from a combination of pension funds that make investments in technology, and previous technology company profits. 
What is the investor expecting in return?
They will be looking to make a return on their investment, multiple times the amount they put in. And this is something that we can achieve and be entirely compatible with our journey. 
At some point in our future we’ll expect to come to the end of investment rounds and have a few options to suit us: be acquired and taken under the wing of a major future sustainability company; float on the stock market and be publicly owned; or even Ecologi makes their own investments in early-stage climate projects which yield their own returns. It’s far too early to say which financing route will come into effect but be assured that it’ll be a decision made with our mission in mind.
Investors will be expecting no dividends during this journey as any profits are to be reinvested back into the company.
How is Ecologi going to stay ethical?
As we grow, we will have the resources to upgrade our <a href="https://docs.google.com/spreadsheets/d/1dACvzjE5nBE1cKZBAhYzsUa7rIiLJqCWXVgY4bNS8_Q/edit#gid=1742437033">transparency docs</a> and be a lot more verbose about what we’re up to. A quick run-through of what’s coming up: 
<ul>
<li style="font-weight: 400;" aria-level="1">In the queue to be B Corp certified, all prep governance work is complete; </li>
<li style="font-weight: 400;" aria-level="1">A bonafide social enterprise with mission locked into our company documents; </li>
<li style="font-weight: 400;" aria-level="1">Increased detail on our quarterly financial reports such as director salary info; </li>
<li style="font-weight: 400;" aria-level="1">Regular “our door is always open”-style drop-in to chat with Elliot, the CEO, over Zoom;</li>
<li style="font-weight: 400;" aria-level="1">Lifting the lid on what we’re up to with a “Building Ecologi” blog series.</li>
</ul>
Every person on the team and now investors included knows that we have our hearts fully set on creating a company that reimagines what it is to be a social enterprise. 
It’s going to take some doing, and bear with us as we get there. But please <a href="https://ecologi.com/pages/contact">drop us a line</a> on how we’re doing, as well maybe subscribe to our new <a href="https://medium.com/building-ecologi">Building Ecologi</a> series where we’ll talk about our plans out in the open and welcome your thoughts.

And finally, we’re thinking of running a crowdfunding campaign later this year. We’d love to <a href="https://ecologi.typeform.com/to/DMMimqA9">ask you five questions</a> that should take less than a minute to answer.

covid_climate_change_blog

Do you remember, somewhere in the fog of 2020, that period where the pandemic had seeped into every area of our lives but its exact contours and consequences hadn’t yet been established? That point after the initial panic was over, where people had begun to accept this new reality, and had started to consider where we might go from here? Somehow, amidst the horror of news screens filled with ventilated bodies and death counts scrolling ever upward, hope began to spring. Thoughtful, poetic articles began to emerge online about the deeper meaning of this event. Humanity had been given a chance to pause, to reflect, and perhaps &#8211; against all odds &#8211; change course. There was a cautious, quasi-spiritual sense that the planet was sending us a message, as if Mother Nature had realised that humans were not going to bring themselves back from the brink and was now taking the matter into her own hands. These visions of a better society were complemented by a raft of personal resolutions towards self-improvement: goals were set and new habits were inculcated, with the aim of returning after the pandemic a better you in a better world. It was as if we were all given the opportunity to zoom out, from our own lives but also society as a whole, to decide what was really important.
This sense of optimism seemed to be supported by palpable changes in our environment. Global emissions were down 7%; flights had dropped 96%; there were dolphins in Venice! These cracks of light in the gloom sustained us, made us feel as if the pandemic was really for something (beyond, well, surviving a pandemic). That is, there seemed to be a goal we were working towards, by which we could orientate our present reality, giving it some sense. And this was important. Hope sustains us in times of difficulty. It is the voice which reminds us no pain lasts forever, that the sun also rises.

But it seems that somewhere along the way, this optimism began to give way to something else. Weariness. Disillusionment. As lockdown 2 almost imperceptibly melted into lockdown 3, as the term ‘wave’ began to lose all meaning because the Covid tide had never gone away, darker realities began to set in. Not only did we witness our governments continue to vacillate and send mixed messages, we saw huge opportunities to restructure our economy missed, the same old mistakes from the 2008 financial crisis repeated as ‘too big to fail’ industries such as aviation and steel were bailed out, with no climate-change mitigation requirements built into the rescue packages. Rather than being <a href="https://www.reuters.com/article/us-health-coronavirus-leveller-trfn-idUSKCN21R30P" target="_blank" rel="noopener">‘The Great Leveller’</a>, we saw this pandemic exacerbate existing inequalities, the wealth of the top 1% rising by $8 trillion during the pandemic whilst many ordinary people were reduced to government handouts. Working from home also removed access to an equal workspace and put increased pressure on those facing challenging circumstances in their home environment. And everywhere we looked we found ourselves adrift in a sea of plastic: the take-out diets triple-plastic wrapped to avoid contamination, the delivery packages ordered to punctuate the boredom of lockdown living, and of course the proliferation of that once unknown acronym: PPE. And perhaps most deflating of all, it turned out those dolphins had never been in Venice, that it was a piece of <a href="https://www.2oceansvibe.com/2020/03/23/sorry-but-the-dolphins-that-appeared-in-venice-is-fake-news/" target="_blank" rel="noopener">fake news</a> exploiting the sense of hope in the air.
What happened here? Were we deluded to dream of a better future? Did we imagine something that never really could have been? 
No. It is never wrong to hope. And it did sustain us in those interminable lockdown months. Our error was in putting our hopes on an external event, in this notion that Covid had come to save us, as if it were some sort of geo-biological defense mechanism, the natural arc of history correcting itself. But an event can only be as significant as the responses which it generates. Which is to say, the significance of the pandemic was in the million daily acts of kindnesses which it elicited: the grocery collections for elderly and infirm neighbours, the selfless bravery of the frontline workers putting themselves and their families at risk for the greater good, the proactiveness of those who organised events and other forms of support for the most vulnerable. Without even realising it, without waiting for a sunny day where we would have the type of society that we wanted, we were building it in front of our very eyes. One based on solidarity, equality and community concern (all of which happen to be the very characteristics needed to pull us out of the climate crisis &#8211; since we are all sharing increasingly limited space and resources on this planet). What we needed wasn’t a deus ex machina to solve the problem. What we needed was to see that the world around us is a result of the values we hold as a society, and it is this we need to change. This means remembering that the same essential ties that bound us through the pandemic persist and it is along these ties that change is effected, not some grand narrative happening out there. After all, the planet doesn’t care &#8211; it is humans that will perish, not nature.

The pandemic certainly has and will create short term change. The US government has just initiated an unprecedented $1.9 trillion stimulus package which stands to halve national poverty for example. But if we forget the lessons that Covid taught us about our own ways of life, such socially-minded policies will quickly fade into memory. No cataclysm will prevent business as usual from returning. As the Cree Indian saying goes, “Only when the last tree has been cut down, the last fish been caught, and the last stream poisoned, will we realize we cannot eat money.” We cannot wait for further wildfires, droughts and floods to jostle us into wakefulness. It is only through a wave of individuals coming together into communities, into a global movement, encompassing economics, energy, agriculture, and politics, that a truly sustainable way of life will be achieved. Outward events can point us in the direction, but we must walk the path. The steps need not be huge, but we must continue to take them. Reading or sharing this article. <a href="https://ecologi.com/plan">Subscribing to offset the carbon we produce</a>. Reducing meat consumption, <a href="https://ecologi.com/articles/blog/one-small-step-for-you-one-giant-impact-for-humankind">greening our finances</a> or <a href="https://ecologi.com/articles/blog/activism-how-the-drops-inside-the-ocean-are-breaking-down-the-dam">joining a movement</a>. Every step counts. But never question that it is you who must walk those steps. Far from being a lonely journey, the more you do, the more you will find the others who are walking it with you.

george_poet_bts_blog_header

Looking for some more info on our George The Poet video? You’ve come to the right place! It tells the story of the importance of sowing seeds of hope for the future generations and inspiring people to be part of something bigger: a community, a movement, a change… 
 
Lots of work went into the creation of this video &#8211; 11 crew members were involved in the overall production, through the creativity of Bristol-based agency <a href="https://www.enviral.co.uk/" target="_blank" rel="noopener">Enviral</a>, who helped turn around this project in just 14 days.

George The Poet was our first choice for this campaign. He’s a firm favourite of both the Ecologi and Enviral teams, and we were so excited at the possibility of working alongside him. Putting aside his ability to produce and deliver incredible spoken word pieces, and the huge body of work that he can put his name to, he is a true champion of sustainability. 
That&#8217;s why we loved working with the team at Enviral on this project; because of their storytelling abilities. They understand the importance of conveying a genuine, engaging narrative. They knew George would be able to create something amazing, which oozed purpose and which reflected the passion of our Ecologi team. 
Having a lead who truly cares about the planet was vital. We wanted to inspire viewers to take action, and we couldn’t think of anyone better to get this across than George The Poet.

george_poet_bts_blog_1

With limited time, finding a suitable location was a bit of a challenge. We knew that the audio was the lead in this film so we had to find a location away from roads and airports so we could ensure crisp sound. Whilst we can’t reveal exactly where the film was shot, the countryside between London and Bristol proved to be perfect!

The video was directed by the Envival team, a sustainability-focused agency who were stoked to be working on a campaign they were so aligned with. The full Enviral production crew was brought together for the shoot including Joss as the Director, and their camera crew, audio team and photographer.

george_poet_bts_blog_2

What we did to comply with Covid regulations

Covid is real. Whilst we&#8217;re so happy to be back on set again, it&#8217;s super important to make sure that everyone is safe and comfortable. By following the industry guidelines, ensuring that everyone wore masks, respecting social distancing, and by shooting outdoors, we were able to mitigate the risks as much as possible and ensure a safe and successful shoot.

<ul>
<li style="font-weight: 400;" aria-level="1">George did 12 takes over the course of just 2 hrs</li>
<li style="font-weight: 400;" aria-level="1">We had 11 crew on set in total</li>
<li style="font-weight: 400;" aria-level="1">The final video took 6 hours of colour grading to make it look perfect! </li>
</ul>

One small step for you, one giant impact for humankind

Greening your finances

Sustainable Banking

Pensions

Businesses

More posts

Ecologi, Chapter 2

There is no vaccine for the climate: connecting Covid-19 to climate change

Behind the scenes of the George The Poet video

We send good things