Carbon impact app Sugi is the latest responsible finance company 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. Sugi joins 10 other Good Egg companies. These are: PensionBee, The Big Exchange, Triodos Bank, Abundance Investment, Ecology Building Society, EQ Investors, Thrive Renewables, Pennine Wealth Solutions, Path Financial and Bluesphere Wealth.
‘Simplifying green investing for everyone’
Launched in 2021, Sugi is a free-to-use online platform that shows retail investors the environmental impact of their investments and helps them take action to build a greener portfolio.
Founder Josh Gregory came up with the idea for Sugi after a decade in investment funds and green finance which saw him become increasingly frustrated with the lack of options for retail investors who want to engage with green investing. He created Sugi with the mission to simplify green investing for everyone.
Commenting on the Good Egg mark award, he said: “We’re thrilled to be awarded the Good Egg, joining a select group of ethically-run companies that are passionate about greener finances. Sugi’s mission has always been to increase transparency for everyday investors, to break down barriers and bypass the gatekeepers. Once you discover your real impact, your money can change the world.”
Sugi’s impact data shows investors their personalised carbon impact, portfolio temperature and water impact, with more metrics planned. Investors are also able to offset their carbon impact by purchasing verified carbon credits. Sugi’s data covers approximately 99 per cent of the global listed equity market (by market capitalisation) and tens of thousands of actively managed funds, ETFs (Exchange Traded Funds) and investment trusts.
Following the successful launch of its consumer-facing app, Sugi is now working with financial institutions, platforms and advisers across the UK and Europe to help even more retail investors access its personalised climate metrics.
The Good Egg screening report commends Sugi for:
- Providing free impact and temperature alignment information to the investing public. It enables everyday investors to access objective and reliable information from leading environmental data providers about their portfolios.
- Enabling users to choose to offset their investment impact using high-quality, nature-based carbon credits which meet the highest environmental standards.
- Providing topical information about green investing for non-experts through its blog and social media accounts.
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, sustainable investing consultant; 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 Sugi 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.”