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Tomorrow Impact Update – Q4 | 2022

Published March 1, 2023

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 and the Paris Climate Agreement.

Here’s a rundown of what we achieved through sustainable banking together in the last few months:

Impact from the money in your accounts  

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 impact investments, which some of our customer deposits are channeled into. This is how they are divided up in the fourth quarter of 2022:

Impact from every card payment and referrals

Only with a healthy ecosystem can we preserve biodiversity. That’s why we are restoring valuable habitats where they are urgently needed: in the Global South.

Every time you use your Tomorrow card in a store, a small fee is paid to us by the retailer. We are channeling some of this fee into a renaturation project in the South African province of Eastern Cape. So the more often you pay using your Tomorrow card, the more ecosystem we can restore together. Sustainable banking at its best! Find out more about the project here. This was our collective impact from the last three months:

As of 24 January 2023. Slight subsequent fluctuations are possible due to changes to the transaction totals because of unpaid or declined card payments.  

In addition to the support through card payments, since May 2022 our community also contributes to this renaturation project in South Africa through referrals. Each successful referral creates the renaturation of 3 m2 of land in South Africa. In the fourth quarter, this amounted to 30,433 m2 of land renatured by planting 1,909 Spekboom plants.

Impact from our Zero account model

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, we are currently supporting three projects: the renaturation project in South Africa (which you will already be familiar with from your card payments), the Carbon Collectors (a regional vegetable carbon project) and the climate-political work of the Clean Air Taskforce. 

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Our calculation is based on scientific metrics. This is an estimate and hopefully will happen in the future. However, we have no guarantee that this impact will happen in the future.

Impact through the Tomorrow Better Future Stocks 

With the launch of the Tomorrow Better Future Stocks, we have significantly increased our impact even further. The Tomorrow Better Future Stocks is a sustainable investment fund – with sustainable companies only. Find out more here

  • 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.

Impact from our Rounding Up-Feature

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. The great thing about it is that while this isn’t a lot of money for any of us individually, it does add up to a substantial total. 

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In the fourth quarter, we continued to support Africa GreenTec Foundation e.V. for sustainable agriculture and Mauritania and Gambia. We were able to collectively fully finance this project. In addition, we supported a new initiative: Tafel Deutschland e.V.. Together with our community we rounded up for people affected by poverty in Germany. Here you can find more information about why we have chosen Tafel Germany.

Updates on previously funded Rounding Up projects

Now that we've looked at what happened in the past quarter, we'd also like to share milestones of previous projects funded through Rounding Up. One such project was raising money for NIDISI gGmbH to fund a recycling infrastructure in Nepal (see here in Impact Update Q3 I 2022):

  • The recycling center is now complete and is staffed with 8 full time employees

  • The shredder and baler are installed

  • Every day 200 kg of plastic is delivered and processed from the surrounding schools, industry and households

Find out more

You can find our Impact Update for Q3 I 2022 here

Read our Tomorrow Impact Update for Q2 | 2022 here. Read more

And our Impact Update for Q1 | 2022 here. Read more

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