Bank for the Planet: New Eco-Friendly Banking Option Launches, Empowering Climate Action
Paris, France – November 29, 2023 – In a move poised to disrupt the financial sector and empower everyday climate action, Team for the Planet (TFTP) and Crédit Coopératif today announced the launch of ‘Bank for the Planet,’ a groundbreaking banking offer designed to directly fund projects combating greenhouse gas emissions. This isn’t just another bank account; it’s a tool for tangible environmental impact, arriving as urgent breaking news for conscious consumers.
A Partnership Rooted in Shared Values
The collaboration brings together the innovative force of TFTP, a community-driven platform that has already channeled €47 million into 14 climate-focused innovations, and the century-long commitment of Crédit Coopératif to sustainable and ethical banking. TFTP’s impressive track record includes supporting projects that have already avoided 70,000 tonnes of CO2 emissions – a testament to the power of collective investment. Crédit Coopératif, already a leader in responsible finance, boasts one of the lowest carbon footprints in the French banking sector (emitting just 120 tonnes of CO₂ per million euros financed, compared to a national average of 480 tonnes).
How ‘Bank for the Planet’ Works: Banking with a Purpose
‘Bank for the Planet’ isn’t simply about avoiding harmful investments; it’s about actively funding solutions. The offer features a multi-faceted approach:
- Traced Account: Customers can direct their deposits towards projects specifically designed to preserve the planet. This transparency is a key differentiator, allowing individuals to see exactly where their money is making a difference.
- Micro-Donation Card: Every transaction made with the ‘Bank for the Planet’ card triggers a micro-donation to Team for the Planet, turning everyday spending into a force for good.
- Comprehensive Banking Services: The offer includes all the standard banking services you’d expect – dedicated advisors, overdrafts, online and mobile banking – ensuring convenience alongside impact.
- Savings with a Mission: Savings accounts allow customers to donate their annual interest to TFTP, further amplifying their contribution to climate innovation.
Investing in a Greener Future: Supported Innovations
The funds generated through ‘Bank for the Planet’ will support a portfolio of cutting-edge innovations, including:
- Beyond the Sea: A technology reducing ship fuel consumption by up to 40%, tackling emissions from the global shipping industry.
- Monomeris Chemicals: Pioneering infinitely recyclable plastics, addressing the global plastic waste crisis.
- Seaturns: Harnessing the power of ocean waves to generate carbon-free electricity, offering a sustainable energy source.
Crédit Coopératif is further sweetening the deal by contributing €3 for each new card subscribed and up to €0.12 per withdrawal to TFTP, creating a powerful incentive for customers to join the movement.
A New Era of Banking: Putting Power in the Hands of Consumers
“We are particularly proud of this partnership with Crédit Coopératif, a bank aligned with our values, our challenges and our vision of the world,” said Arthur Auboeuf, co-founder of Team for the Planet. Pascal Pouyet, general director of Crédit Coopératif, echoed this sentiment, stating, “Bank for the Planet illustrates our conviction that another bank is possible: a bank that puts the power to act in the hands of those who want to transform society and the climate.”
This launch arrives at a critical juncture. The United Nations emphasizes the urgent need for increased climate finance, and initiatives like ‘Bank for the Planet’ represent a vital step towards mobilizing private capital for a sustainable future. The rise of ESG (Environmental, Social, and Governance) investing demonstrates a growing consumer demand for financial products that align with their values. ‘Bank for the Planet’ isn’t just responding to this demand; it’s leading the charge.
With its innovative approach and commitment to transparency, ‘Bank for the Planet’ offers a compelling alternative for individuals seeking to align their financial lives with their environmental values. It’s a powerful example of how collective action and responsible banking can drive meaningful change, one transaction at a time. For more information on sustainable banking options and the latest in climate finance, continue exploring archyde.com.
