The athlete, who is a longtime environmentalist, has partnered with fintech innovator Ando to fight and reverse climate change through a sustainable bank. And, he invites you, me and all those who will be listening to join him in investing in our collective future.
According to Honnold, the majority of the big banks have financed polluting fossil fuel industries for decades. In an October 2020 article written for Outside magazine, Honnold explained: âWhen you put your money in a bank, it doesn’t stay there – the bank lends up to 90% of its capital to other projectsâ¦ Six of the top ten institutions supporting increased fossil fuel extraction are based in the United States. â
This resulted in the injection of trillions of dollars from bank customers into planet-damaging fossil fuel industries, with no control in the hands of the individuals whose money it was, Ando said in an announcement by their company. partnership with Honnold. The amount exceeds $ 3.8 trillion in bank customers’ money invested in fossil fuels in just five years since the Paris agreement, an Ando representative told EcoWatch.
âIt’s ironic that most people’s money ends up being used for all kinds of projects that they would never personally support,â Honnold wrote in Outside. “An individual can go vegan, compost, and turn down their thermostat only to find that the money in their savings account is funding a pipeline or hydraulic fracturing.”
In the article, the legend also drew parallels between his rise from El Cap’s “impossible dream come true” and the global fight against climate change. He called the latter “a cutting edge problem facing our generation – a problem that seems too big and too complex to act,” just as his rise had felt before he conquered it.
Honnold noted that the climate crisis is “global” and “urgent” as it will impact almost all other environmental issues. Most scientists agree that as a global community we only have until 2030 to make meaningful changes before the worst effects of global warming are firmly entrenched in our future, he said. he writes.
Today, through this partnership, Honnold and Ando invite people to make one of the most significant and powerful changes possible: moving to a sustainable bank like Ando. This will ensure that their money is used as a force for the good of the environment instead of funding additional fossil fuel extraction.
Ando is a “radically transparent banking service” whose mission is to end the financing of fossil fuels by the banking sector, said the representative of Ando. All customer money passing through Ando – including Honnold’s and anyone he convinces to set up an account – is exclusively invested in carbon reduction projects aimed at reversing the devastating effects of the climate crisis.
âThis is what is so exciting about Ando: We invest 100% of deposits in green initiatives like renewable energy and sustainable agriculture. Finally, you are in control, you can do business with a company that shares your values ââand uses your money to help heal the planet, âthe partnership announcement added.
As a fully transparent bank, Ando allows customers to choose how their money can impact the planet. Ando
Ultimately, switching to a sustainable bank like Ando allows an individual to have up to 27 times the impact of other environmental actions like going vegan, taking shorter showers, or installing solar panels on their roof. an independent study by Nordea Group Finances found.
Honnold and Ando hope to mobilize the premier’s enthusiastic fan base towards their common mission. Honnold wrote: âThe easiest way to reduce energy extraction from the Arctic, oil sands and via hydraulic fracturing and coal is to cut funding for these dirty technologies. It is essential to be deliberate and to choose a sustainable bank.
The environmentalist and athlete concluded: âAfter all, your bank uses your money to make an impact on the world, one way or another. “
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