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.
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:
With your accounts you have funded environmentally and socially sustainable projects
Deposits
The money in your Tomorrow accounts is being used to finance renewable energies, climate-friendly transport, better education, affordable housing and sustainable communities. Basically, a good future worth living in for us all. That happens through the sustainable investments, which some of our customer deposits are channeled into. A total of € 141.451 million are invested. Of this, 35 percent is in green bonds for environmental protection and nature conservation, 49 percent in social bonds for social, sustainable housing,14 percent in bonds for sustainable business and 1.8 percent in a blue bond for marine protection.
Zero
We need an all-round approach to climate protection. That’s why we are using our Zero account model to restore ecosystems, develop innovative technologies to store CO2 and bring about political change for more climate protection. As the Zero community, you are ensuring that more CO2 will be prevented in the future – and are therefore contributing to a climate-friendly approach to CO2 emissions. To do this, these three projects are currently supported: the renaturation project in South Africa, the Carbon Collectors (a regional vegetable carbon project) and the climate-political work of the Clean Air Task Force. In total, your contributions to Zero in the first quarter 2023 will save 5,270 tons of CO2 in the future.
Frequent readers will probably notice a change here: We have decided that in future, donations to the Clean Air Taskforce will no longer be evaluated in terms of CO2 saved in the future. This is because when it comes to political lobbying, the attribution of CO2 emissions saved in the future is not scientifically reliable to a degree that we set ourselves as a standard.. This does not lower our conviction of the importance of the Clean Air Taskforce - rather, we see a measurement of the impact with hypothetically saved CO2 as less well-founded and transparent than a measurement in donated Euros.
*This calculation is based on the following scientific research and certifications provided by our partners Carbon Collectors and ClimatePartner Gmbh:
EBC-Guidelines for the Certification of Biochar Based Carbon Sinks Version 2.1 from 1st February 2021 for Carbon Collectors’ contribution
CDM A/R Large scale Consolidated Methodology AR-ACM0003 “Afforestation and reforestation of lands except wetlands” and the associated Verra/VCS requirements for calculation of anticipated carbon removals for the Eastern Cape spekboom restoration project
Through your card payments, valuable ecosystems were renaturated and rounded up for climate justice
Interchange Fee
Only with a healthy ecosystem can we preserve biodiversity. Therefore, the climate protection contribution in the renaturation project in South Africa rebuilds valuable ecosystems. In the first quarter of 2023, 144,989 spekbooms were planted on an area of 728,446 m2 via the interchange fee.
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*As of 11 April 2023. Slight subsequent fluctuations are possible due to changes to the transaction totals because of unpaid or declined card payments.
Referrals
With each referral, 3m2 of land is renatured in the Spekboom restoration project in the Eastern Cape for both referrer and referee. In the first quarter, 8,857 m2 of land was restored by planting 2,215 Spekboom plants.
Rounding Up
With our Rounding Up feature, you can 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. In the first quarter of 2023, we continued to support Tafel Deutschland e.V. for people affected by poverty. With € 51,712, we successfully completed this project. In addition, our community donated to two other projects: The project for the workers of the Spekbooms project in South Africa, which is financed by card payments, referrals and Zero, has - with € 101,532 - already been completed. Since March, the donations collected through Rounding-Up go to UNICEF Germany, to help children and families in the Syrian and Turkish earthquake zones. In total, € 155,446 were rounded up.
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By investing through Tomorrow, you have invested your money 100% sustainably
With Tomorrow you invest sustainably in your future. The Tomorrow Better Future Stocks is a sustainable investment fund, in accordance with the Paris climate agreement. In total, at the end of the first quarter 2023 €5.18 Mio are invested in sustainable companies via the Tomorrow Better Future Stocks.
Tomorrow GmbH offers the brokerage of the above-mentioned investment product as a tied agent within the meaning of § 2 para. 10 KWG in the name and for the account of Solaris SE and is entered in the public register maintained by the German Federal Financial Supervisory Authority (BaFin). The register can be viewed here
The mentioned investment product is associated with risks.
The text does not contain investment advice or recommendations to buy or sell.
