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Jakob talks with the avocado store blog about sustainable banking and the future of our world and society.

Interview with the avocadostore blog

The Avocado Shop is a continuous presence in the world of fair and sustainable consumption. We talked to the creators of the online shop about how we want to live tomorrow and what we think will change in the future. The issue of finance must finally be brought out of its niche and into the context of a sustainable lifestyle.

You can read the full length interview here

What can I get from you, and what can I do with it?

A consistently sustainable account, optimised for your smartphone. We offer a digital mobile product that is easy to navigate. With us you can open a current account in ten minutes and then do all the things you can do with other banks: transfer money, set up standing orders, withdraw money, etc. Apart from a short video chat, there are no formal barriers to entry, and anyone can join. Then there is the added value of mobile banking: I can keep a digital budget book, get overviews of spending and revenue, divide my expenses into categories, change my PIN directly on my phone or lock my card - everything that used to take an age at the bank. You were often kept on hold, or had to make an appointment with the client advisor. In addition, you get a Mastercard, with which you can pay everywhere, withdraw money and shop online - but faster, digital AND sustainable! At the end of the day, we are a mobile current account with all the technical advantages of mobile banking - and the promise that our money will only fund things that make positive change possible. So far, we are unique. Our impact strategy process unfolds in two directions. On the one hand, we have defined a negative list with all the things we know to be downsizing our planet rather than being sustainable - such as nuclear energy, arms, factory farming, and coal power. On the other hand, there is a no less long positive list, for example, with organic agriculture, electromobility, renewable energy and green living. We send our customers’ money in this direction. Our motto is: your money, your impact! Money has an effect, and conventional banks pull quite a few, sorry for the expression, crappy stunts, just so you can make a good return. We promise our community to stay away from this sort of thing.

But what about the financial return?

For many people this may sound amazing, but the return does not have to be worse. There are large, serious meta-studies that show that investments in sustainable sectors are less profitable in terms of prospects than in the conventional sector. That’s why the market is moving very slowly. For decades one could act to the detriment of the economy and the social world, and that did not harm the business model and success. But little by little, a change is taking place. In the long term, companies will be healthier and more economically successful if they consider these factors. Just because you invest your money in good industries does not mean you can’t come out with a profit.

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26 November 2018