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Green banking: Mobile & Smart | Tomorrow
2024-01-22T23:00:00.000Z
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The Tomorrow Impact Update | Q4 | 2023
https://www.tomorrow.one/en-EU/magazine/tomorrow-impact-update-q4-2023/
2024-01-22T23:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/546i6Ot9gTS36V4OWRfBfM/100ceec5d7cfd7c8219678faa1f8baf3/240118_Magazin_ImpactUpdate_2023_Q4_Header3.jpg?w=960" alt="the picture shows a greenhouse " />
<p><b>New quarter, new impact update! In figures, graphics and with fascinating insights, we are showing you what we have achieved together for people and the planet in the last few months through sustainable banking.</b></p><p>At Tomorrow, your money works for a better future. Not a single cent is invested in coal, factory farming or other industries that damage the planet. And as a community, we are also having a positive impact on the climate and us as a global community. We ensure that all projects and companies that receive money from Tomorrow are contributing to the United Nations’ Sustainable Development Goals. Here’s a rundown of what we achieved through sustainable banking together in the last few months:</p>
New Rounding Up project: Sustainable menstrual products and jobs for women in Nepal
https://www.tomorrow.one/en-EU/magazine/rounding-up-nidisi/
2024-01-02T23:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/4ZYThsk1zd43lTbKg8StU1/59d95999c0a2892818daec9e57655b3a/231122_Magazin_RoundingUp_NIDISI_Header2.jpg?w=960" alt="" />
<p><b>Together with you, we are supporting a new project as part of our Rounding Up feature: Your donations will go to the organization NIDISI and will enable the financing of sustainable menstrual products, jobs for women and an education campaign on the topic in Nepal. You can find out why we chose this project and how your donations work here.</b></p><p>With our <a href="https://www.tomorrow.one/en-EU/banking/rounding-up/" title="Green banking via rounding up | Tomorrow" rel="noopener">Rounding Up feature</a>, you can round up to the full euro every time you pay with the Tomorrow card and support projects for more climate justice and those affected by current crises with cents. What is only a small amount of cents for each individual becomes a large sum that can really make a difference. We have already been able to finance eight projects together.</p><h2>Climate injustice, plastic pollution and equality in Nepal</h2><p>Nepal is particularly suffering from the effects of the climate crisis, extreme weather conditions and increasing plastic pollution. In addition, inequality and patriarchal norms characterize the country. This also means that women's participation in economic, political and civil life can be limited due to fewer educational and professional opportunities. This exclusion is also reinforced by the social stigma attached to women's menstruation: This is because menstrual blood is considered "unclean" in some regions of Nepal.</p><h2>The Rounding-Up project with Nidisi in Nepal</h2><p>The supported project therefore pursues a holistic approach that combines the empowerment of Nepali women and the reduction of menstrual stigma with solutions for the climate challenges.</p><p>The first important step is to offer an environmentally friendly alternative to the necessary but environmentally harmful products. To this end, the project produces innovative, compostable menstrual pads from banana fibers, which are actually an agricultural waste product. These menstrual pads are offered cheaply in Nepal. The profits will then be used to fund a menstrual education campaign for schoolchildren and adults.</p><p>Destigmatization promotes reproductive health, improves educational opportunities for girls and strengthens women's participation in the labour market. This is important because equal opportunities are essential for sustainable communities. The sustainable sanitary pads not only reduce plastic waste, but also contribute to local environmental protection. The project also creates jobs for women, which makes them more economically independent.</p><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/3gZqoDMj8pFMWSpBNkcZUh/2adcce3837ff41e43c8ee52d211f5feb/231122_Magazin_RoundingUp_NIDISI_Slideshow.jpg" alt="" width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/2W7EQMZBbDo56NdouZX0xJ/c74d47fe32169b35beb63f6f053d92c4/231122_Magazin_RoundingUp_NIDISI_Slideshow2.jpg" alt="" width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/1EH2hcQ9iCbuZWVgGtaEJL/174aff66514e41c6fc7dd95e43c8305f/231122_Magazin_RoundingUp_NIDISI_Slideshow3.jpg" alt="" width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/27MXrsOLIRQdyNhvNacCoX/76db1287edf604088f4e80135398350a/231122_Magazin_RoundingUp_NIDISI_Slideshow4.jpg" alt="" width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/7HWDLf8GN5Xz8dyGMJcf4O/dc0a88a033326f50942b47f1b2b25801/231122_Magazin_RoundingUp_NIDISI_Slideshow5.jpg" alt="" width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/4pEOMDeIZBLIqH9YGpiF92/037bb755073e33a5d3fe3a3655d96192/231122_Magazin_RoundingUp_NIDISI_Slideshow6.jpg" alt="" width="1024" height="682" /></figure><h2>These are the concrete goals that are to be achieved together with the Tomorrow Community:</h2><ul><li><p>By the end of 2025, more than 250,000 sustainable sanitary pads are to be delivered, thus avoiding over 700 kg of plastic waste.</p></li><li><p>An ambassador program will be launched in 2024, which will inform more than 15,000 school children about menstruation and involve over 3,000 adults in community discussions on the topic.</p></li><li><p>Sustainable jobs will be created for women, giving them more economic independence.</p></li></ul><p>So activate Rounding Up in the Future Tap of your Tomorrow app to make a big difference with your small cents.</p><h2>About NIDISI GmbH</h2><p>NIDISI is a non-profit organization that develops innovative and scalable solutions to social and environmental problems in Nepal. It is active in the areas of female empowerment, plastic recycling, clean drinking water supply and education.</p><p>
</p><p><i>Transparency note: We - meaning the Tomorrow Foundation gGmbH and the respective NGO - charge the costs incurred by Tomorrow GmbH through Rounding Up support, for example for transaction fees. As Tomorrow GmbH, we therefore also generate income in order to be able to establish Rounding Up as an independent impact driver in the long term and sustainably. We base the level of costs on the evaluation of the Charity Watch organization. We plan to remain below 25% of the total annual average and are therefore rated top (A) by the NGO.</i></p><p>
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Tax returns in Germany: What you need to know
https://www.tomorrow.one/en-EU/magazine/guide-tax-declaration/
2023-12-12T23:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/6lP4DpD22qrdcmt03dfNM9/d6a64509f06732587524c4bd3fdf4a4c/221216_Magazin_January_Campaign_2023_05_Steuererklaerung2.jpg?w=960" alt="" />
<p>Do you get a sinking feeling in your stomach at the mere thought of having to do your taxes? There’s really no need. For a start, it’s not always necessary for you to submit a tax return in the first place. And even if you do, it doesn’t have to be the chore it might appear. Read on to find out why it might make sense for you to file a tax return, when you should do it and what you need.</p><h2>Tax returns: Why it’s something worth looking into</h2><ul><li><p><b>It's worth it:</b> In 2019, people in Germany received an average of €1,095 back in tax rebates.</p></li><li><p><b>It’s (usually) voluntary: I</b>n most cases, you don’t have to file a tax return, but if you do, it’s usually worth the effort.</p></li><li><p><b>It's not too late:</b> You can still file your voluntary tax return retroactively for 4 years. </p></li><li><p><b>It’s not difficult to prepare</b>: In fact, you only need three things: Income tax certificate, tax number & tax identification number</p></li><li><p><b>There are helpful tools:</b> With the web-based German tax software ELSTER or other tools such as <i>wundertax</i> for instance, it is very easy to prepare and submit your tax return online.</p></li></ul><p>As you’ll see, tax returns aren’t as bad as people make them out to be. The aim of our Beginners’ Guide is to get you started on your tax return today and get your money back.</p><h2>Who has to file a tax return? And who can if they want to?</h2><p>Most people who are employed full-time don’t have to file a tax return, particularly if they are not married. This is because their employers already pay their income tax to the tax authorities every month. Even so, submitting a voluntary tax return may still be worth their while financially. After all, it’s quite possible that you’ll receive overpaid tax back from the tax office.</p><p>Filing tax returns is mandatory for self-employed people and freelancers, just as it is for anyone who receives welfare or wage-replacement benefits (e.g. short-time allowance or parental benefits). And you’ll need to submit a tax return if you’ve switched employers in the past year or have monthly income of more than €410 in addition to your main job.</p><h2>Deadlines: When do I need to file my tax return by?</h2><p>The deadline depends on whether your tax return is voluntary or mandatory. </p><h3>Deadlines for filing tax returns for 2023</h3><p>Since 2019, the deadline for submitting mandatory income tax returns has usually been July 31st of the following year. However, there were some exceptions to this. The effects of the pandemic meant that the deadline for fiscal year 2021 was set at October 31st, 2022. Similarly, thanks to the Coronavirus Tax Assistance Act, the deadline for fiscal year 2022 was October 2nd, 2023. <b>The deadline for fiscal year 2023 is September 2nd, 2024. </b>Theoretically it is August 31, 2024, but since this is a Saturday the date moves to the following Monday.</p><p>If you prepare your tax return with the aid of a tax consultant, the <i>Finanzamt</i> will usually extend the deadline until the end of February of the year after the following year. Incidentally, if you realize that you won’t be able to meet a deadline, you can apply for an extension, citing your reasons.</p><h3>Retroactive voluntary tax returns: what are the benefits</h3><p>If you’re submitting a tax return voluntarily, you have four full years after the end of the fiscal year to do so. This means, for example, that you can wait until the end of 2024 to submit your tax return for 2020 and that you’ll have until December 31, 2027, for your 2023 submission.</p><h2>Preparation: What do I need for my tax return? </h2><ul><li><p><b>Income tax certificate for the fiscal year</b>: The income tax certificate issued by your employer every year contains key information for your tax return. Tip: each item has a number that corresponds to the numbered fields in ELSTER.</p></li><li><p><b>Tax number</b>: Your local tax office assigns you an 11-digit tax number that is posted to your registered address.</p></li><li><p><b>Tax identification number</b>: If you register your place of residence with your local district office (<i>Bezirksamt</i>), you will receive your tax identification number (<i>Steueridentifikationsnummer</i>).</p></li></ul><p>Freelancers must submit a <b>verifiable</b> list of all income and expenditure. Thankfully, there’s no need to submit the supporting documentation itself, but you are required to keep it in a safe place for 10 years.</p><h2>Submitting tax returns: electronically or on paper?</h2><p><b>Employed people</b> are free to decide whether to submit their tax return on paper forms or electronically. For instance, you can use the free, web-based German tax software ELSTER to prepare your tax return online and send it to the <i>Finanzamt</i>. </p><p>By contrast, <b>self-employed</b> people have to submit their tax returns to the <i>Finanzamt</i> electronically. </p><p>Apart from <a href="https://www.elster.de/eportal/start" target="_blank" title="">ELSTER</a>, there are also other German tax software and apps (such as WISO Steuersparbuch, <a href="https://www.steuerbot.com/en" target="_blank" title="">Steuerbot</a>, <a href="https://www.steuerbot.com/en" target="_blank" title="">Wundertax</a> or <a href="https://taxfix.de/en/" target="_blank" title="">Taxfix</a>) that can walk you step by step through the process. They will provide you with lots of useful tips for minimizing your tax bill, carry out plausibility checks to prevent errors and use an ELSTER interface to submit the finished tax return. Needless to say, you can also hire a tax consultant to do all of this for you. Professional assistance is also available from income tax assistance associations, i.e. non-profit organizations that provide tax advice and financial consulting for a fair fee.</p><h2>How to get (even more) money back</h2><p>Nine out of ten taxpayers get money back because they’re able to offset diverse expenditure against tax (e.g. specialist literature, work computer, relocation for professional reasons, further education and training, or retirement planning).</p><ul><li><p><b>Charity donations, membership fees</b> and similar expenditure can all be offset to reduce the amount of income tax you pay. You enter these in the form called <i>Sonderausgaben</i> (Special Expenses). </p></li><li><p><b>Have you moved?</b> If the move was for work-related reasons or if the commute to work is shortened as a result, you can claim the costs of a moving company or estate agent for tax purposes. You enter these costs in Annex N under "Other income-related expenses".</p></li><li><p>You can also offset any <b>household expenses</b> you might have under <i>Haushaltsnahe Dienstleistungen </i>(Household-Related Services). These include, for example, house-cleaning or gardening services.</p></li><li><p><b>Insurance costs</b> also reduce the amount of income tax you will have to pay. These can be entered in different places. Basic health insurance cover or specific private insurance such as occupational disability insurance comes under the form called <i>Vorsorgeaufwand</i> (Pension Expenses).</p></li><li><p>You can also offset the costs you incur when <b>travelling to work</b> – even if you cycle there. Use the <i>Anlage N</i>form for this – travel costs are included under income-related expenses. <b>By the way, you can also offset bank account charges as part of your income-related expenses – albeit just a lump sum of €16.</b></p></li></ul><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/1UzGyqEYUStNvoWNUMvZ7e/a136fa9717ee831deb267defbdb0cb62/221216_Magazin_January_Campaign_2023_05_Steuererklaerung_EN.svg" alt="" width="540" height="620" /></figure><p>It can be especially worthwhile submitting your tax return later if you stand to receive interest from the <i>Finanzamt</i> in addition to your tax refund. You can also refuse to accept the tax assessment you are sent if it varies greatly from the tax return you submitted. In this case, you have to file an objection within the space of one month.</p><p>And if you’re one of those people who have never submitted a tax return, just remember that there’s a first time for everything! Once you’ve decided to take the plunge, you’ll soon realize that it’s well worth your while.</p><p><i>Disclaimer: This article was written with loving attention to detail and extensive research but does not claim to be exhaustive. If you are in any doubt, particularly when dealing with more complex cases, please consult a professional tax advisor.</i></p><h2>Find out more</h2><p><a href="https://www.tomorrow.one/en-EU/magazine/short-guide-to-investing/" title="Sustainable investing: What you need to know" rel="noopener">Sustainable investing</a>: What you need to know</p><p><a href="https://www.tomorrow.one/en-EU/magazine/sub-accounts/" title="Sub-accounts: Definition & Information" rel="noopener">Sub-accounts</a>: What are they and what are they for?</p><p><a href="https://www.tomorrow.one/en-EU/magazine/your-path-to-financial-independence/" title="Shaping the future: Your path to financial independence | Tomorrow" rel="noopener">Shaping the future</a>: Your path to financial independence</p>
We’re updating our prices and offering a discounted annual fee
https://www.tomorrow.one/en-EU/magazine/update-prices-2024-and-discounted-annual-price/
2023-12-03T23:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/4iByUDFQPexjITBfOSncFA/05ae9d1d7026fdea7b9213cdc6fc05d1/231116_Magazin_Repricing_2023_Header2.jpg?w=960" alt="We are updating our prices" />
<p><b>From March 2024, we will be increasing the monthly charges for our Tomorrow accounts and offering a new discounted annual fee as another payment option. Plus: in December, we have a special discounted offer for everyone who decides to switch to the annual payment. In the article, we reveal exactly what’s changing.</b></p><h2>New updated prices in 2024</h2><p>As of March 1, 2024, we are increasing the prices of our three account models as follows:</p><ul><li><p><b>Now: </b>will cost €4/month</p></li><li><p><b>Change: </b>will cost €8/month</p></li><li><p><b>Zero: </b>will cost €17/month</p></li></ul><p>—> These prices are valid from March 1, 2024. Until then, the current prices, which you can find <a href="https://www.tomorrow.one/en-EU/accounts/" title="Current accounts: Sustainable & smart" rel="noopener">here</a>, will apply.</p><h2>Why are the prices going up? </h2><p>
We want to offer you the best possible product that is sustainable across the board – with features that make daily life and organizing your finances a whole lot easier. This requires a lot of hard work and passion on our side, but also a pricing system for our accounts that is both fair and realistic.</p><h2>What else is new? We are offering another payment option that will save you money</h2><p>As well as the monthly payment option you are already familiar with, we are now offering an additional way to pay. From now on, you can choose to pay the account fee for Now, Change and Zero in advance – annually and at a reduced price – and therefore save the costs for one month, which means that you’ll only be paying for 11 months instead of 12. </p><p>But what does that look like exactly?</p><p><b>Here’s an example:</b></p><ul><li><p>From March 1, 2024, our Change account will cost €8 a month.</p></li><li><p>If you pay for your Change account one year in advance, the annual price will be €87.</p></li><li><p>That works out at €7.25 a month. </p></li></ul><p>—> So, by paying the total annual fee in one go, you will save money over the course of the year.</p><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/zLTBCt1xVX5wiZbIxNB3D/3f6e691c2663b9d213e0f854dfdf9b63/231116_Magazin_Repricing_2023_Preise-ab-Maerz_neutral2.png" alt="The picture shows the new annual prices for the Tomorrow accounts." width="1080" height="1300" /></figure><p>By the way: you remain flexible even with the annual payment. You can cancel your account at any time.</p><p>Our discounted annual price still isn’t the right option for you? No problem – of course you can still carry on paying for your account monthly as usual. </p><h2>Our early-bird offer: Save BIG in December!</h2><p>You can switch to annual payment any time you like, but it’s even more worth your while <b>in December 2023</b>. Until December 31, 2023, we have a special offer up our sleeves for you and it looks like this:</p><p><b>pay for 11 months, get 12 months – at the current prices!</b></p><p>That means that for your Change account, for example, if you select the annual payment in the Tomorrow app in December, you’ll pay just €77 for a whole year. <b>That works out at €6.42 per month</b> <b>– which is less than you’re currently paying for your account each month. </b></p><p>This is our way of saying thank you to our long-standing customers and also giving new customers the opportunity to get to know Tomorrow with discounted rates for one year. </p><p>Want to take a look now? Then head on over to the Tomorrow app where you can choose whether you want to carry on paying for your account monthly or switch to the discounted annual fee for big savings.</p><p>All changes from 30.11.2023 and 1.03.2024 can be found <a href="https://support.tomorrow.one/en/support/solutions/folders/15000013478" target="_blank" title="">here in the FAQs</a>.</p>
The Tomorrow Impact Update | Q3 | 2023
https://www.tomorrow.one/en-EU/magazine/tomorrow-impact-update-q3-2023/
2023-10-19T22:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/3PcA8oPhe7yPkdpiPCoHXA/1743a9ed5b165af7839997f01860816c/230926_Magazin_ImpactUpdate_2023_Q3_01_Header.jpg?w=960" alt="A picture of our Spekboom project on site. You can see an employee in the midst of the plants. " />
<p><b>New quarter, new impact update! In figures, graphics and with fascinating insights, we are showing you what we have achieved together for people and the planet in the last few months through sustainable banking.</b></p><p>At Tomorrow, your money works for a better future. Not a single cent is invested in coal, factory farming or other industries that damage the planet. And as a community, we are also having a positive impact on the climate and us as a global community. We ensure that all projects and companies that receive money from Tomorrow are contributing to the United Nations’ Sustainable Development Goals. Here’s a rundown of what we achieved through sustainable banking together in the last few months:</p>
Finance Check: "I'm a risk-taking investor"
https://www.tomorrow.one/en-EU/magazine/money-matters-finance-check-organisation-Johannes/
2023-08-08T22:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/5Y2ZXMbTQaMaAH3BxOLttY/b129cdc1a5cbfbb2ede7ef9966a1c62a/230728_Magazin_Kassensturz_Johannes2.jpg?w=960" alt="Finance Check
Johannes
Budget: € 2,050" />
<p><b>How much money do you have at your disposal each month? How are you saving for your retirement and which financial goals have you set yourself? Find out the answers to these questions in our Finance Check with Johannes. </b></p><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/7LoG7w8PL4btmH0UIOG6th/9357eeb5d612f67c3e6ee5fa22e3527d/230728_Magazin_Kassensturz_Johannes_2_EN.svg" alt="Johannes, 34
Psychologist in training to become a psychotherapist and consultant
Lives in a shared apartment in Hamburg" width="540" height="262" /></figure><h2>How high is your monthly (net) budget?</h2><p>I am currently a psychologist in training to become a psychotherapist. The therapy hours I give are regularly reimbursed by the health insurance. However, my training institute keeps part of it, so I do not earn the full hourly rate of a trained psychotherapist. In addition, I still work with a 50 percent position as a consultant with a focus on data in a consulting firm for the public sector. My total net income is € 1,350 per month. In addition, I have rental income from an inherited property (about € 200) and freelance income from training therapies (about € 500), i.e. the therapy hours I provide as part of my training. </p><h2>Are you renting or buying the place where you live? </h2><p>I live in Hamburg in a rented flat with 5 friends and my partner. The apartment has 170 m2, of which I live in about 50 m2 together with my partner and share 45 m2 of common rooms. Sometimes I am allowed to enter the other rooms as well. </p><p>Since I live in the center of town, I don't own a car. Instead, I actually do everything by bicycle - even though sometimes it takes me up to an hour to get there, for example if I have to go to the other side of the Elbe river. When the weather is bad, I sometimes take public transportation. And if I want to transport something, for example because we want to renovate something in the apartment or have found second hand furniture, I use the various car-sharing options.</p><h2>What’s the breakdown of your monthly outgoings in fixed costs and variable costs?</h2><p>My fixed costs are € 1,435 per month. These include € 500 for rent, € 300 for education costs, € 110 for contracts (sports subscription, entertainment, mobile phone, Zero account), € 340 for food and household products, € 125 for train fares and € 60 for bicycles (apportioned over the month). </p><p>In addition, there are leisure costs of € 440 for restaurants, lunch or snacks in between (€ 170), clothing and other purchases (€ 120), leisure activities (€ 80) and vacations (€ 70 allocated to the month). </p><p>I save what is left over at the end of the month. That is an average of 175 euros per month. I invest this money from time to time, currently I put it into the T<a href="https://www.tomorrow.one/en-EU/investing/tomorrow-better-future-stocks/" title="Impact investment fund | Tomorrow Better Future Stock" rel="noopener">omorrow Better Future Stocks</a>. </p><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/6ksy1qNwT3oD30HcItVlS8/7aabe88aed26733c16b95f569f391bc2/230728_Magazin_Kassensturz_Johannes_2_DE.svg" alt="9 % savings
21 % variable costs
70 % fixed costs" width="540" height="490" /></figure><p><b>When you see the breakdown of your finances, does it surprise you or do you check your spending and income regularly?</b></p><p>I'm surprised at how large the share of fixed costs is. But: This category also includes quite a lot of what makes up my everyday life. I have many friends in other cities that I like to visit and my family lives 8 hours away by train. This is then reflected in the expenses for mobility, which are quite high - although I mainly ride a bike in everyday life. However, the relationships are definitely worth it to me and with a car my costs would be even higher. Since I'm relatively mindfull when it comes to new purchases and I buy a lot secondhand, I'm not surprised that the share of leisure spending is not that high. </p><p>Even though a lot of money and time goes to my education, I'm quite satisfied that there's still a small amount left to save each month in the end. And that's despite the fact that I don't consider my financial situation to be that lavish at the moment. But of course I'm aware that many people earn much less.</p><h2>How do you organize your finances to keep track of everything?</h2><p>Since I use a separate account for my education income and expenses (incl. travel costs, postage, etc.), I can focus my spending on my employment income. My rent and a fixed amount into the <a href="https://www.tomorrow.one/en-EU/banking/shared/" title="Shared Account | Your joint sustainable bank account" rel="noopener">shared account</a> with my partner for groceries and joint expenses go out right at the beginning of the month shortly after my salary comes in. This leaves a balance that I can spend throughout the month. This is then quite transparent and usually just enough.</p><p>Everything else I bring once a year after the tax return in the clean, when I know what is left of my freelance income and rental income. I then invest this amount. </p><h2>How are you making provisions for your old age or saving up for bigger dreams for the future? </h2><p>At the moment, it is only possible for me to make intensive private savings for my retirement to a very limited extent. However, I have a buffer thanks to the privilege of having inherited a property, and I can take care of my retirement savings and any larger purchases after I finish my education - hopefully with better financial opportunities then. So at the moment I'm relying on the <a href="https://www.tomorrow.one/en-EU/magazine/rentenluecke/" title="Rentenlücke: Definition & Berechnung" rel="noopener">state pension</a>. But that is not supposed to be the final plan. </p><h2>What is particularly important to you when it comes to money?</h2><p>I'm generally a thrifty person and have always liked to collect ... even money. I only buy new things when it's really necessary. But when I really want something, I also enjoy spending money. In this case, the price doesn't matter, but rather whether I find the price reasonable and how much it's worth to me. </p><p>I try to use my money as sustainably as possible, have my<a href="https://www.tomorrow.one/en-EU/accounts/" title="Current accounts: Sustainable & smart" rel="noopener"> account with Tomorrow</a> and invest in sustainable funds. However, I am a very risk-averse investor and also like to invest in crypto, crowdinvesting or other things with total loss risk.</p><figure>
<blockquote>My relationships are definitely worth the travel costs.</blockquote>
</figure><p>On the one hand, money plays too big of a role, in that money and financial opportunities strongly determine our daily lives and options, especially when living in the city. <a href="https://www.tomorrow.one/en-EU/magazine/gini-coefficient/" title="The Gini coefficient: a measure of inequality in the distribution of wealth" rel="noopener">Money is distributed very unfairly.</a> And although both I and my partner are definitely already on the better side, I worry about how we will be able to finance a life in the city with family, a real estate purchase or retirement well. How do others do that after all? So it's important to talk about money and salaries to at least expose these inequities. </p><h2>What do you wish you’d known sooner about money and finances? </h2><p>Actually nothing, I have always been interested in finance and money and knew enough according to my current situation to make the "right" decisions.</p><h2>Find out more </h2><p><a href="https://www.tomorrow.one/en-EU/magazine/guide-tax-declaration/" title="Tax returns in Germany: What you need to know" rel="noopener">Tax returns in Germany</a>: What you need to know</p><p><a href="https://www.tomorrow.one/en-EU/magazine/sustainable-smalltalk-10-facts/" title="Sustainable small talk: 10 facts about the climate and environment that will make you curious for more" rel="noopener">10 climate facts</a> to get the conversation going</p><p><a href="https://www.tomorrow.one/en-EU/magazine/the%20three-account-model-the-simplest-way-for-couples-to-organise-their-finances/" title="The three-account model: The simplest way for couples to organise their finances | Tomorrow" rel="noopener">The three-account model</a>: The simplest way for couples to organise their finances</p>
The Tomorrow Impact Update | Q2 | 2023
https://www.tomorrow.one/en-EU/magazine/tomorrow-impact-update-q2-2023/
2023-07-26T22:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/5NKEma8dudLAIHnSW309fQ/c774682b165a6940ef7e84bc8931a6f5/230726_Magazin_ImpactUpdate_2023_Q2_Header.jpg?w=960" alt="Q2, 2023 Tomorrow Impact Update
Picture of Carbon Collectors" />
<p><b>New quarter, new impact update! In figures, graphics and with fascinating insights, we are showing you what we have achieved together for people and the planet in the last few months through sustainable banking.</b></p><p>At Tomorrow, your money works for a better future. Not a single cent is invested in coal, factory farming or other industries that damage the planet. And as a community, we are also having a positive impact on the climate and us as a global community. We ensure that all projects and companies that receive money from Tomorrow are contributing to the United Nations’ Sustainable Development Goals. Here’s a rundown of what we achieved through sustainable banking together in the last few months:</p>
EU-Taxonomy | Interview with Prof. Dr. Alexander Bassen
https://www.tomorrow.one/en-EU/magazine/interview-eu-taxonomy/
2023-07-09T22:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/17Kg0py6Jt6S2tHhTz9uaO/555576d466bf6fd3ae5acd24d8a29917/220711_Magazin_EU-Taxonomie_Interview_Bassen.jpg?w=960" alt="" />
<p><b>How can the finance industry reach net-zero? Is the EU Taxonomy a real lever to shift money in the right direction? We asked some questions to Prof. Dr. Alexander Bassen, Professor of Capital Markets and Management at the University of Hamburg and Member of the German Advisory Council on Global Change.</b></p><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/37EDbAh5cF2bZ2ZR9xiVin/f1334016685d983a386d18b39a070920/220711_Magazin_EU-Taxonomie_Interview_Bassen.png" alt="" width="1125" height="417" /></figure><p><b>Prof. Dr. Alexander Bassen</b></p><p>For almost 20 years, Prof. Dr. Alexander Bassen has been engaged in the development of sustainable finance, namely with experiences such as his presence as Member of the German Council for Sustainable Development (RNE) or his current involvement at the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection within the German Advisory Council on Global Change. As Tomorrow keeps on investigating which levers can maximize positive impact in the finance sector, we thought that an exchange with Professor Bassen would bring some new light on the topic - for us as well as for our community. We asked him 5 important questions on how to establish sustainable finance at the heart of society. </p><p><b>Tomorrow: To build a sustainable and resilient system, we need to transition successfully to a more sustainable financial system. In your opinion, what can the finance industry do to help society and the economy reach net-zero?</b></p><p><b>Alexander Bassen: </b>In our report of the German finance council (Sustainable-Finance-Beirat) called “Shifting the trillions”, we propose some important solutions to the allocation of capital towards ESG (Environmental, social, governance) assets. The global challenges we have to address are currently mostly negotiated by governments. If we look at the needs emerging countries have and the establishment of funds such as the Green Climate Fund, the needs for better healthcare systems or changing infrastructures to deliver green energy, affordable and sustainable housing etc.; it is basically impossible for public actors right now to finance the change we need with public investments. To get a chance to achieve net-zero, we need to change the behavior of companies and activate private investors to meet the targets set by the Paris Agreement. </p><p><b>Tomorrow: It can sometimes be frustrating that most of the investments offered today are focused on avoiding harm to the environment and society, but it seems very difficult to identify opportunities that do create real additional impact. What are the most powerful levers in your eyes to create additional impact with investments? </b></p><p><b>Alexander Bassen: </b>I used to be a member of the G7 Impact Taskforce* and I saw there that terminology matters. The term of impact has been used for more than 20 years. To make the effect usable for investments, we differentiate between impact-aligned and impact-generating investments. Equity investments are usually impact-aligned, for example we created an SDG-aligned (Sustainability Development Goals) index for the United Nations and used the term impact-alignment because this describes best what the index does: it does not create additional value, but it is aligned with certain objectives. An impact-generating investment is something else: it is combined with additionality, but with simple “stock picking” it is very difficult to achieve additionality. What can matter and where everyone has a chance to play a role is with engagement. Engagement as a shareholder or group of shareholders defines companies’ agendas, brings hidden topics to the front and is a chance to make real change happen. Divestment can also be effective. It is basically choosing not to support companies or projects that you do not agree with and are probably harmful for the environment and society or do not show good governance practices. Bonds are quite different, as you can also generate impact with the investment itself, particularly at issuance. </p><p><b>Tomorrow: Can you share a bit your perspective on the EU Taxonomy and its recent developments?</b></p><p><b>Alexander Bassen: </b>The taxonomy is an important step to implement the 6 defined environmental objectives: </p><ol><li><p>climate change mitigation</p></li><li><p>climate change adaptation</p></li><li><p>sustainable use and protection of water and marine resources</p></li><li><p>transition to a circular economy</p></li><li><p>pollution prevention and control</p></li><li><p>protection and restoration of biodiversity. </p></li></ol><p>All of that while respecting the principle of “do no significant harm”. The taxonomy is based on performance, it has very clear thresholds for CAPEX, OPEX (Capital expenditure and operating expense) and revenues, but also focuses on non-financial disclosures. Many companies that are eligible for the taxonomy also have to start reporting on social and environmental aspects with the CSRD**. Long story short, the new reporting obligations and the European framework are a good way to align company reporting and investor reporting. It should also bring clarity on what is classified as “sustainable activity” and to what degree this activity is considered sustainable within its own category. The taxonomy is a good step in the right direction. However, there are also a lot of problems associated with it at the moment. For example, investors already had to report on the PAIs (Principle Adverse Impact) of their investments before the companies even reported on them. Now the EU is aware of these challenges; they started with 2 objectives in the beginning (climate change adaptation and mitigation), and they will now have to introduce the remaining four objectives promptly. </p><p><b>Tomorrow: It seems that there are different ways of understanding the EU taxonomy: for some, it is a way to show the most sustainable companies also within controversial sectors; for others, the taxonomy should focus on showing the most sustainable industries and exclude controversial sectors, which is also Tomorrow’s standpoint. What is your view on the addition of controversial sectors in the amendments of the EU Taxonomy?</b></p><p><b>Alexander Bassen:</b> If you talk about nuclear and gas, the arguments for including them were mostly that we cannot transform society without transforming and relying on those sectors. Some also claim it was purely a political decision, which would be a shame, since the Platform on Sustainable Finance worked hard on bringing to life the taxonomy on a voluntary basis: it would be disappointing if a political decision destroyed the work the Platform has done so far. In my opinion, controversial sectors should not be covered by the taxonomy because it sends the wrong signal to all stakeholders. </p><p><b>Tomorrow: Have you already seen market signs that the EU Taxonomy is helping investors making more informed decisions when it comes to sustainability? </b></p><p><b>Alexander Bassen:</b> I am not sure if it is helping investors per se, but it influences their decisions. The pressure from asset owners (whose money is invested) on asset managers (who allocate the asset owners’ capital) is increasing, as asset owners do not want to see sustainability risk on their portfolio or on the asset manager itself. When you see cases such as the Deutsche Bank’s DWS being sued over fund greenwashing allegations in October 2022, even if we still have to wait for the lawsuit outcome, it shows that there is a general movement to look deeper at “sustainable investments”, how they are defined, how they are reported on. Asset owners will not want to keep playing with these risks. </p><p><b>Tomorrw: In 2020, the EU Commission published the SFDR (Sustainable Finance Disclosure Regulation), requiring financial players to label their products either as Article 9 (dark green), Article 8 (light green) or Article 6 based on their sustainability ambition.</b></p><p><b>The Tomorrow Better Future Stocks fund, available via the Tomorrow app, was launched in October 2022 and is labeled Article 9, investing only in truly sustainable companies. How do you see the difference between those labels?</b></p><p><b>Alexander Bassen:</b> Article 9 funds should make a contribution to social and/or environmental objectives, whereas Article 8 funds promote some environmental or social characteristics. The EU Commission is also aware that there are still misconceptions on the use of those categories, and is currently working on creating a more precise differentiation between what Article 9 and Article 8 means.</p><p>Article 9 funds also have to state which proportion of their investee companies are aligned with the taxonomy. Since this year is the first year of reporting within that framework, it will be interesting to see what companies report on their taxonomy-alignment. We are doing an analysis this year with a partner, which will give us a lot of insights on how companies report on their taxonomy-alignment for the first time.</p>
Beyond ecological footprint: Embracing the concept of the ecological handprint
https://www.tomorrow.one/en-EU/magazine/handprint-footprint/
2023-06-26T22:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/3dLpOUItEx6B2pgenPGXKd/79358808ec259d772b406929bf0c77d4/230524_Magazin_Handprint.jpg?w=960" alt="Image of a hand with a play of light in rainbow colors" />
<p><b>Companies are increasingly disclosing their corporate footprint information. However to fight the climate crisis we should not only focus on negative externalities but also maximizing the positive impact one has on the planet. This is the concept of handprint, which we will introduce in this article.</b></p><p>Although not new, the topic of carbon footprinting remains a controversial one: as Michael E. Mann mentioned in 2021 in his book “The New Climate War: The Fight to Take Back Our Planet”, the concept of footprinting has been democratized by the fossil fuel industry itself as of the 1980s. At an individual scale, the concept of footprint puts the weight of the climate crisis on households who have to face an overwhelming burden and responsibility for their own consumption habits. While no individual action is too small to make a change, it is pretty clear that what we need is collective action at every scale mainly from governments and corporations. A good development in the public and private space is that the reporting on corporate footprinting is gradually becoming standard and disclosure regulation on ESG in Europe has been scaling up. </p><p>It is crucial for companies to understand their contribution to climate change and acknowledge their role in delivering the SDGs. At the end of 2021, more than 2,000 companies across 70 countries and 15 industries, representing more than one third ($38 trillion USD) of global market capitalization, had approved emissions reductions targets or commitments with the Science-Based Targets initiative. But on top of solely reducing emissions, corporations have a duty to generate a positive impact on the economy, society and the environment. That’s when the concept of handprint starts to make sense: by shifting our focus from a “footprint-only” approach we will maximize positive impact. </p><h2>The well-known concept of ecological footprint</h2><p>As our planet faces increasing environmental challenges, measuring footprints has become a crucial - or mandatory - step towards a sustainable development, understanding, acknowledging and reducing our negative impact on the planet. The concept of footprint was first proposed by William Rees and Mathis Wackernagel in 1992 and is initially a tool to measure the total area of land and water required to support human activities. However the concept was quickly picked up by fossil fuel industries in the UK, namely by British Petroleum, who according to the Guardian, started a communication campaign to promote the concept of individual carbon footprint.</p><p>With growing awareness of the climate crisis and sustainability issues, calculating corporate footprints still seems important for understanding resources consumed, waste produced, or how ecosystems are affected by a company’s activities particularly in sectors such as energy, transportation, or agriculture. Measuring the ecological footprint not only helps businesses become aware of their environmental impact but it also enables them to identify areas where they can take steps towards reducing it. However, this approach only tells part of the story. While it's crucial to minimize our negative impact and reduce emissions by 90 to 100%, we also have the duty to go above and beyond the sheer reduction of footprint and use the power of a business to make a positive impact on nature and society. This is where the concept of handprint comes in.</p><h2>An innovative and holistic approach to sustainability: the concept of handprint</h2><p>The handprint is a lesser-known, yet innovative and holistic approach to sustainability that complements the concept of the footprint. It focuses on measuring the positive impact that organizations can have on the environment and society by undertaking actions that not only keep their footprint to a minimum but also generate additional positive externalities. The concept was first proposed by Dr. Gregory Norris in 2008, who recognized the need to inspire and mobilize society to take more proactive steps towards sustainability and promote a more optimistic and solution-oriented approach to environmental issues. </p><figure>
<blockquote>The climate crisis is not only on our shoulders, it is also in our hands.</blockquote>
<figcaption>Luisa Neubauer</figcaption>
</figure><p>For companies, this concept offers a unique opportunity to truly work on creating a better future for the generations to come. As an example, it is pretty clear by now that reducing GhG emissions to a minimum won’t be enough to keep our planet below 1.5 degree Celsius and that we must also remove CO2 permanently from the atmosphere. Companies engaging in activities or projects that will actively remove CO2 on top of their own emission reduction will have a durable positive impact, a handprint, as well as the ones committing to deliver progress on SDGs.</p><p>The handprint can be evaluated looking at different criteria, for example when it comes to the environment, carbon sequestration, water conservation, waste reduction, and biodiversity preservation. For example, to facilitate this process, the Centre for Sustainable Consumption and Production (CSCP) has developed a methodology to assess an organization’s handprint. It includes a handprint calculator that measures the positive impact of actions and a so-called "handprint label" that, once assessed, can be used to communicate this positive impact to stakeholders, allowing them to make more informed choices about the products and services of the concerned company.</p><h2>Tomorrow’s approach to handprint</h2><p>At Tomorrow, we take a comprehensive approach to measure our handprint. Our handprint materializes through three key pillars: <a href="https://www.tomorrow.one/en-EU/accounts/" title="Current accounts: Sustainable & smart" rel="noopener">Tomorrow accounts</a>, <a href="https://www.tomorrow.one/en-EU/impact/climate-action/" title="Climate Contribution | Tomorrow" rel="noopener">Tomorrow card payments</a>, & <a href="https://www.tomorrow.one/en-EU/investing/" title="Sustainable investments with Tomorrow" rel="noopener">investment with Tomorrow</a>. For each of these pillars, we have developed specific impact levers that enable us to measure progress towards creating a positive change and maximizing our handprint.</p><ul><li><p><b><i>Tomorrow Accounts</i></b>: We believe in the power of money to drive positive change. <a href="https://www.tomorrow.one/en-EU/impact/sustainable-banking/" title="Sustainable Banking | Tomorrow" rel="noopener">Customer deposits </a>are used to invest in social and environmental projects, as well as secondary sustainable investments, with approximately 38% of our overall deposits invested sustainably.</p></li><li><p><b><i>Tomorrow Card Payments</i></b>: Tomorrow offers two main drivers here to fight the climate crisis: the <a href="https://www.tomorrow.one/en-EU/impact/climate-action/" title="Climate Contribution | Tomorrow" rel="noopener">interchange fee </a>allocates a portion of merchant fees towards selected climate protection projects, while the <a href="https://www.tomorrow.one/en-EU/banking/rounding-up/" title="Green banking via rounding up | Tomorrow" rel="noopener">Rounding Up feature</a> enables customers to make a donation with each transaction to carefully selected projects. Currently the interchange fee helps finance the <a href="https://www.tomorrow.one/en-EU/impact/spekboom/" title="Spekboom | Tomorrow's impact project" rel="noopener">Eastern Cape spekboom restoration project in South Africa</a>, aiming at removing more than 200,000 tons of CO2 from the atmosphere in the next 20 years and binding it by renaturalizing old pastures with spekboom plants. With the Rounding up feature, we were able to direct more than 400,000 euros of donations towards climate justice projects in 2022 alone.</p></li><li><p><b><i>Investment with Tomorrow</i></b>: Customers can invest in various investment products via the Tomorrow app, such as the <a href="https://www.tomorrow.one/en-EU/investing/tomorrow-better-future-stocks/" title="Impact investment fund | Tomorrow Better Future Stock" rel="noopener">Tomorrow Better Future Stocks</a>, a fund aligned with the Paris climate goals. When selecting investment products, we use a strict <a href="https://www.tomorrow.one/en-EU/about-us/investment-criteria/" title="Investment criteria | Tomorrow" rel="noopener">catalog of criteria</a> with positive and negative criteria that are based, among other things, on ESG criteria. </p></li></ul><p>
Tomorrow is committed to maximizing its customers handprint. As Luisa Neubauer said in her recent speech at the 2023 OMR conference in Hamburg, “Much more interesting than the CO2 footprint for us humans is actually the CO2 handprint. What do we actually do all day? The climate crisis is not only on our shoulders but it is also in our hands”. </p>
Our new Rounding Up project: Access to education for children in Afghanistan
https://www.tomorrow.one/en-EU/magazine/rounding-up-visions-for-children/
2023-06-04T22:00:00.000Z
<img src="https://images.ctfassets.net/t8zoy2hhffa5/7bNt1V5889VJqLA7NFsN2P/ad825981d26b4d64db20048d353ad88f/230601_Magazin_RoundingUp_Visions_for_Children_Header4.jpg?w=960" alt="Photography of girls in a classroom with the app screen and text on it: Rounding Up: € 0.20 with your purchase for access to education for children in Afghanistan " />
<p><b>With your help, we are supporting a new project as part of our Rounding Up feature: together with Visions for Children e.V., we are providing pupils from Muaz Bin Jabal Middle School in the province of Kabul, Afghanistan with access to high quality education and improved learning conditions. Read on to find out why we chose this project and how your donations are making a difference. </b></p><p>With our<a href="https://www.tomorrow.one/en-EU/banking/rounding-up/" title="Green banking via rounding up | Tomorrow" rel="noopener"> Rounding Up feature</a>, since the end of 2021 you have been able to round up any payment you make with your Tomorrow card to the nearest euro – meaning that your remaining cents are donated to climate justice projects and those affected by current crises. What works out as just a few cents for each individual actually makes up a large collective sum that has a huge impact and can really bring about change. Thanks to your help, we have already been able to fully finance the first few projects.</p><h2>Climate injustice in Afghanistan</h2><p>Afghanistan is bearing the brunt of the climate crisis, despite not really contributing to it. Because although the country makes up 0.49% of the global population, it is responsible for just 0.03% of global carbon emissions. The consequences of climate change are hitting Afghanistan especially hard because of its geographic location that puts it at risk of regularly occurring natural catastrophes, and also its tense political situation, which means it can offer little protection to the people living there. As a result, the country has a lack of (monetary) resources needed to counter the effects of the climate crisis and the [PH1] ongoing political conflicts. The Taliban regime is also hampering access to independent information about the climate crisis and how to mitigate its effects on a long-term, strategic level. </p><p>As a result, in the project region of Paghman in particular, the majority of people are affected by climate-related issues such as crop shortfalls, an increased risk of famine and financial losses. The small harvests are usually only enough to cover personal needs and aren’t enough to be sold, which is further exacerbating the economic situation of the Afghan people. Given the increasingly difficult living conditions in Afghanistan, education is a pivotal factor in opening the doors to other employment opportunities.</p><h2>Our new Rounding Up project with Visions for Children e.V. </h2><p>Worldwide, around 258 million children do not attend school. And 262 million children, despite attending primary school, cannot properly read, write or do basic math. Visions for Children e.V. is a Hamburg-based non-profit organization whose vision is a world in which every child is offered a basic education.</p><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/QaVbc3LXlG5Sz90uqH4Bs/c64a056ede8a8baf07e190400319e36f/230601_Magazin_RoundingUp_Visions_for_Children_Slideshow3.jpg" alt="Photography of a classroom with students " width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/1GGiJoexsTJUrSx8lIGkX3/93771d2dd05c0dd5a33a10368aee7d36/230601_Magazin_RoundingUp_Visions_for_Children_Slideshow2.jpg" alt="Photography with the school building with students " width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/7MLcFM2sa1bYMg7zLmTO94/4fced78a6457f4adc13ade8f44c1b221/230601_Magazin_RoundingUp_Visions_for_Children_Slideshow4.jpg" alt="Photography of students in a classroom " width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/3CIKi0OiGQm5GephvRgfXE/dae9aee297bab0f3ed3ce9cd83907b7e/230601_Magazin_RoundingUp_Visions_for_Children_Slideshow5.jpg" alt="Photography of children and teachers " width="1024" height="682" /></figure><figure><img src="https://images.ctfassets.net/t8zoy2hhffa5/4zB0KDGZcL9J5c3bsLLmnJ/2bef58f06830687b6a7d8401ac3b7e52/230601_Magazin_RoundingUp_Visions_for_Children_Slideshow1.jpg" alt="Photography of girls in a classroom " width="1024" height="682" /></figure><p>© <i>Visions for Children e.V. (Picture 1,2: </i>Nasir Faizy; Picture 3: Rada Akbar, Picture 4: Suliman Salehi) </p><p>Visions for Children e.V. is therefore committed to improving learning conditions in crisis and war zones where there is often a lack of basic resources. School buildings are expanded, sanitary conditions improved, and pupils and teachers equipped with the necessary learning materials and training. The focus of their work lies on projects in Afghanistan and Uganda, always in close cooperation with local partners. This is how Visions for Children e.V. creates the necessary framework for a high-quality teaching and learning environment in line with the fourth Sustainable Development Goal of the United Nations’ Agenda 2030 and provides pupils with the skills and knowledge to build their own future. </p><p>The project for Muaz Bin Jabal Middle School in the province of Kabul aims to tackle the climate injustices and social challenges that the country and Paghman [PH2] in particular are facing by improving the level of education it provides. With these measures, the project will give a total of 350 pupils access to a good education: </p><ol><li><p>The addition of eight new classrooms will extend the school, enabling it to accept even more pupils. This should help to improve the learning outcomes of the pupils and offer them better opportunities for the future.</p></li><li><p>Extending the sanitary facilities and providing hygiene workshops will improve hygiene and sanitary conditions for pupils and teachers.</p></li><li><p>New further training offers will improve the quality of teaching provided by the nine teachers employed there.</p></li><li><p>A school development council will be given training in managing and maintaining the school’s infrastructure and resources in the long run.</p></li></ol><p>Thanks to these long-term measures, it is not only the directly affected 350 pupils and nine teachers who will profit from these improved school structures, new buildings, and well-trained teachers, but also their families and future generations of pupils.</p><p><i>We value transparency: We – meaning: the Tomorrow Foundation gGmbH and the respective NGO – charge the costs that arise at Tomorrow GmbH through the Rounding Up support, for example for the transaction fees. This is how we, as Tomorrow GmbH, also generate income in order to be able to sustainably establish Rounding Up as an independent impact driver in the long term. We base the fee on the evaluation of the Charity Watch organization. We plan to stay below 25% of the total amount on an annual average and are therefore rated with top grade (A) by the NGO.</i></p>