Green fintech company Sugi has introduced a new feature in its app that enables users to evaluate the climate impact of their investment portfolios.
Originally launched in public beta in the UK late last year, the complimentary Sugi app empowers retail investors to assess the carbon footprint associated with their investments. With this latest enhancement, users can now determine the warming potential of their portfolios and assess their alignment with the Paris Agreement’s 2°C climate target.
Leveraging Open Finance technology, Sugi connects with over 80 investment platforms, encompassing a majority of the UK online market. By linking one or several portfolios through the app, users can gain insights into their overall portfolio temperature. This feature utilizes data sourced from S&P Global Trucost, evaluating 4,400 globally listed companies and major global indices.
Josh Gregory, CEO of Sugi, remarked, “By reallocating our investments towards greener options, everyday investors can drive significant change within the investment sector and corporate practices. However, this requires accessible and accurate information. Currently, many investors are unaware of the true environmental impact of their investments.
“With Sugi, UK retail investors can understand how their portfolios contribute to global warming and discern the difference between corporate claims regarding climate action and their actual practices. More importantly, this knowledge empowers us all to make more sustainable financial choices.”