Thanks to Sugi’s new portfolio temperature feature, UK retail investors can check whether their portfolios are aligned with the 2掳C global warming target for the first time.
Green fintech Sugi today launches a new feature enabling users to check the temperature alignment of their investment portfolios.
For the first time, UK retail investors can check the warming potential of their portfolios and whether they鈥檙e aligned with the Paris Agreement鈥檚 2掳C target.
Through Open Finance technology, Sugi connects to over 80 investment platforms, covering most of the UK online investing market. By connecting one or more portfolios on the Sugi app, users can view their overall portfolio temperature. Using data from S&P Global Trucost, Sugi鈥檚 portfolio temperature feature incorporates results from 4,400 global listed companies and all the major global indices.
The 2掳C target is internationally agreed as the limit to which global temperature can rise, with 1.5掳C regarded as a stretch target. Exceeding 2掳C risks uncontrollable global warming, with catastrophic and irreversible effects on the planet.
Most investment portfolios are aligned with around 3掳C of global warming.*聽Historically, it has been difficult for both retail and institutional investors to obtain data on portfolio temperature. However, the investment industry is under growing pressure to reveal the 鈥榳arming potential鈥� of portfolios. Some fund managers have stated their intent to publish this data, but there has been little uptake to date.*
Portfolio temperature is included as part of Sugi鈥檚 core app which is free for all users, alongside carbon impact data, benchmarking and comparison investments. The app will launch additional features in the spring to help users reduce their environmental impact.
Josh Gregory, CEO and Founder of Sugi commented:
鈥淚t鈥檚 widely acknowledged that global emissions need to halve by 2030 and reach net zero by 2050.* Yet recent pledges to the UN by 75 countries reflect less than a 1% reduction* in that time frame.
鈥淏y shifting our investments to green, everyday investors can take control, driving change in the investment industry and corporate behaviour to make a real difference. But we can only do that with the right information. At the moment, none of us has any idea about the real impact our investments have on the planet.
鈥淲ith Sugi, UK retail investors can see how much their portfolios contribute to global warming and the difference between what companies say they鈥檙e doing to combat climate change and what they鈥檙e actually doing. More importantly, we can all use that information to make greener choices when managing our finances.鈥�
Visit www.sugi.earth to sign up for Sugi
