Climate change may still be a topic of debate for certain politicians, but investors are increasingly decisive. Money is gushing into any kind of asset labeled green or sustainable. At least $30.7T of funds is held in sustainable or green investments.
But while sustainable finance is the talk of boardrooms and finance calls around the world, it’s not available at street level. People want to take action, but only those with a high net-worth have had the opportunity.
Meanwhile, people have been waking up to the fact that where they put their money matters: money from their bank accounts can indirectly fund industries harmful to people and the planet through their bank’s investments.
Bank of the West was in the right place at the right time for a conversation around sustainability, having already already made bold decisions on what they would finance and what they wouldn’t. But the bank lacked a differentiated product that could invite like-minded customers to join the bank in its efforts. Bank of the West needed a way to empower any customer to take climate action.
As consumers, we think about sustainability and ethics when we make daily decisions about the products we buy; from clothes, to food, to the cars we drive. But we don’t often understand the impact our bank card and deposits are having on the planet.
We realized that Bank of the West is uniquely positioned to put sustainable finance in people’s wallets; in a way our big three competitors can’t, due to their investment policies.
We worked with Bank of the West to create the first account designed for climate action. A bank account in partnership with 1% for the Planet, that changes the relationship between your money and the planet.
More than donating 1% of the revenue from the account, it minimizes the negative impact of your money and maximizes the positive action it generates.
The 1% for the Planet account allows you to track the carbon impact of your purchases, so you can make more informed decisions. It waives your monthly service charge, to remove financial barriers to account ownership. And even the debit card is compostable, so that when your card expires, it expires for good.
Bank of the West 1% For The Planet Case Study
- Integrated Marketing
- banking case study
- climate change
- Campaign Development
- innovative marketing