Online pension provider PensionBee and positive impact investing platform The Big Exchange are the latest responsible financial providers to be awarded the Good Egg mark from Good With Money.
The mark is the only accreditation in the UK designed to make it easier for consumers to find financial providers that use finance to benefit people and planet, as well as offering a good deal for their pockets. PensionBee and The Big Exchange join eight other Good Egg companies; Triodos Bank, Abundance Investment, Ecology Building Society, EQ Investors, Thrive Renewables, Pennine Wealth Solutions, Path Financial and Bluesphere Wealth.
Launched in 2015, PensionBee is on a mission to make pensions easy by helping customers to combine their existing pension pots into one new plan. Its Fossil Fuel Free Plan is one of the UK’s first mainstream private pension plans to completely exclude companies with proven or probable reserves in oil, gas or coal.
We champion sustainable investing as the future of engagement in pensions, and wholeheartedly believe that everyone should have the option to use their investment for good
The Good Egg screening report commends PensionBee for its:
- commitment to making financial services fairer for all
- campaigning for greater levels of transparency in pension transfers and fairer charging across all pensions
- Fossil Fuel Free Plan – one of the UK’s first mainstream private pensions to completely exclude companies with proven or probable reserves in oil, gas or coal, tobacco companies, manufacturers of controversial weapons, nuclear weapons and persistent violators of the UN Global Compact
- commitment to making its products accessible to people on low incomes
- Transparency around employee pay
Romi Savova, CEO of PensionBee said: “At PensionBee, we see our role as critical in building the future we want to see, so that our customers can look forward to a happy retirement. We champion sustainable investing as the future of engagement in pensions, and wholeheartedly believe that everyone should have the option to use their investment for good – transforming the planet, society and their retirement for the better.
“We’re delighted to receive a Good Egg mark in recognition of this, and look forward to expanding our range of responsible investing options in the near future.”
The Big Exchange
The Big Exchange, co-founded by The Big Issue in 2021, is an online investment platform which only lists funds that are proven to be making a positive difference to the planet and its people. It offers a range of around 65 investment funds with different sustainable aims, from lowering carbon emissions and contributing to social housing to helping to protect wildlife.
The Good Egg screening report commends The Big Exchange for its:
- mission is to make investing available to as many people as possible (its management fee of 0.25 per cent is amongst the cheapest on the market)
- commitment to providing simple, honest, and transparent information about investing and money that isn’t overcomplicated with jargon
- simple fund ratings, with Bronze, Silver and Gold medals show their level of impact performance. This impact is measured against the United Nations’ Sustainable Development Goals (SDGs)
Abi Sater, CEO of The Big Exchange, said: “We are so proud to have earned a Good Egg Mark, it is a real validation of our mission and our aims to make investing benefit both consumers, as well as people and the planet. The Big Exchange has built a community of customers, partners, and followers because we believe we are trying to do the right thing for investors and savers who want to harness the power of their money for people and planet.
“By providing better access to funds and explaining what they are trying to do, improving transparency and showing people what is actually under the bonnet, speaking in as plain English as possible, and by telling people the extent to which investments are really “walking-the-talk” we have created a more open, accessible, and transparent way to invest.”
We look forward to growing even more as a leader in this space alongside other fantastic Good Egg awardees who are really changing the way people engage with their money for the better.
“The great thing is we are seeing more and more people wanting to align their money with their values! But this makes it all the more important for customers to have credible products and services available and accessible where these decisions can be made. The Good Egg Mark is more proof to customers that they can trust we are walking-the-talk ourselves and that our values are really built into what we do.
“Our team is so happy to add the Good Egg mark to the list of our awards and achievements over the last couple of years and we look forward to growing even more as a leader in this space alongside other fantastic Good Egg awardees who are really changing the way people engage with their money for the better.”
What’s in a Good Egg?
The Good Egg mark is based on how well a provider measures up against a range of different environmental, social and industry impact factors, taking into account the size and history of the firm and its performance. Ethical Screening produces a report on each provider applying for the mark. Not all companies applying for a Good Egg will be granted one.
A panel of ethical finance experts then provides a further level of rigour before the Good Egg is awarded. The advisory panel includes John Fleetwood, founder of leading sustainable fund analyst 3D Investing (now part of Square Mile); Huw Davies, senior finance adviser at Make My Money Matter; Fionn Travers Smith, ex-Move Your Money campaigner, financial inclusion manager at Phoenix Group, and Charlene Cranny, sustainable finance expert at Economy of Good and ex-director at Good Money Week.
Lisa Stanley, co-founder of Good With Money, said: “A Good Egg is a mark that can only be used by companies like PensionBee and The Big Exchange that are able to prove their mission to make a positive impact for the environment and society.
‘Look for a Good Egg if you want to align your money with your morals and use companies that are doing the right thing.”