Fintech PR

Cushon launches the world’s first Net Zero pension

Published

4 years ago

January 19, 2021

Cushon, the fintech workplace savings disrupter, today announces the launch of the world’s first net zero pension.

The launch responds to growing demand from employees who are increasingly concerned about the impact of their pensions on climate change. Recent research from Cushon^[1] showed that 68.6% of employees are concerned that their company pension could be investing in businesses that are contributing to the climate crisis. 87.9% of employees want their employer to take action to address this, for instance moving to a pension provider that’s making a positive impact on climate change (39.8%).

Choosing to use a climate-friendly pension provider is an easy way for businesses to significantly reduce their employees’ contribution to global warming. Cushon’s Net Zero pension will enable employers to help their people contribute to the deceleration of climate change quickly, easily and meaningfully via the choices they make for their company pension. In so doing, they will help to protect our environment and align towards the Paris Climate Agreement and a 1.5 degree world.

Cushon’s pension is the first of its kind in that it is Net Zero now – not later – unlike competitors in the market adopting long-reaching targets to achieve the same status by 2030 or even 2050.

Each year, the average UK pension member unknowingly finances 23 tonnes of CO2 emissions^[2] through the businesses their pension invests in. That’s the equivalent of running either nine family cars each year, using 940 gas propane cylinders, or burning 1,100 coal fires annually, simply as a by-product of saving for retirement. Investors would need to recycle for 19 years, or plant 30 acres of new forest to counteract these effects.^[3]

While there are a number of pension investment funds claiming to be socially responsible, these funds often come with higher charges and are still a long way away from being net zero – a target set by the UK Government to be met by 2050. Cushon’s pension is Net Zero right from the get-go.

A big plus for employers is that a move to a Net Zero pension would also increase employee engagement rates. Cushon’s research shows that 62.4%[4] would engage more with their pension if they knew it was making a positive impact on climate change. To further boost engagement, Cushon is also launching a new app which allows members to see all their pensions, other savings and investments in one place. It’s fully transactional, and employees can change contributions and transfer in other pension and investment pots.

Commenting on the launch, Ben Pollard, Founder & CEO, Cushon, said: “At Cushon, we know that people want their retirement savings to help tackle climate change without sacrificing returns. We wanted to find a very real way of making this work by delivering a pension that is Net Zero now. By choosing a Net Zero pension, employers are helping their employees have a direct and significant impact on climate change. The demand that we have already seen for our Net Zero pension is testament to this and we are now working towards being able to offer the same philosophy through our other product offerings. We’re so excited to be able to bring all of these products together so that our customers can see and manage all their investments together in an intuitive and engaging user interface.

“The idea of Net Zero investing is shamefully poorly developed within the fund management industry. We work with three of the largest fund managers in the world, and only one of them was even able to tell us the CO2 emission levels of their funds. To ensure there is no impact on returns, having reduced the emissions financed by the funds as far as possible via solutions that are currently available ‘off the shelf’ from our fund managers, Cushon is paying to offset any residual emissions out of the company’s own money. We have worked with Vertree to select a range of Verified Carbon Standard (VCS) projects, with 75% of projects being triple, double or single gold rated under the Climate, Community and Biodiversity (CCB) Standard.”

Supporting the launch, Richard Curtis, Co-Founder of Make My Money Matter, said: “The launch of a pension that is net zero now – not later – shows what is possible from the pensions industry when tackling the climate emergency is taken seriously. This new pension, with robust sustainability credentials, will be the first of its kind and so we are delighted to partner with Cushon as they continue to integrate environmental criteria across the board.

“This is the kind of leadership that the pension industry – and world – needs in the years ahead as we look to transition to a green economy post Covid-19. With COP26 taking place in Glasgow next year, all eyes are set to be on the UK and its environmental credentials, so it is great to have firms like Cushon taking concrete steps to address the climate crisis, which should hopefully incentivise more providers across the industry to follow suit.”

Related Topics:Ben Pollard Cushon latest-news Richard Curtis

Up Next

NetCents Technology Receives BIN Number and Starts Printing Cards for Credit Card Launch

Don't Miss

Apolo III Acquisition Corp. Announces Update on Qualifying Transaction with Ruckify Inc.

Click to comment

Fintech PR

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

13 hours ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg

View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html

Fintech PR

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

13 hours ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg

View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

1 day ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.