The app named SUGI, the first platform to track the carbon impact of retail investors, launched on Tuesday with the aim of helping investors build green portfolios along value.
Featuring MoneyHub’s open finance data and intelligence API, Sugi is a free app aimed at retail investors who want to compare their investment’s carbon footprint with industry benchmarks.
Founded in 2019 by CEO Josh Gregory. Josh Gregory welcomed the launch of Sugi as a simpler and more accessible step towards green investments.
“Covid has accelerated green investment awareness and demand, but it is difficult for retail investors to take action.
“Sustainable investment is full of jargon and investors are rightly concerned about greenwashing. Another issue is ESG assessment. It aims to simplify complex issues, but even experienced retail investors are very confused in and of itself. This all ultimately stops more people from getting involved.
“Working with MoneyHub, the platform with the most comprehensive financial data connections on the market, we can provide users with unparalleled access to investment information in one location.
“By providing simple and objective data to users, SUGI aims to make green investments easier, easier to understand, and more accessible to anyone.”
Unlike “complex” ESG ratings targeting institutional investors and asset managers, SUGI shows users the annual carbon impact of each investment, comparing industry averages and carbon data with figures for similar investments.
The app contains carbon data for 95% of listed stock markets (more than 95% of listed stocks), with over 3,500 exchange funds and certain aggressively managed funds.
Sugi states its intention to introduce wider funding and more environmental data “in the coming months.”
Users can link investment portfolios that may include ISAS and SIPP to SUGI via MoneyHub’s Open Finance API, allowing them to access “personalized impact data.”
Samantha Seaton, CEO of MoneyHub, commented on the Sugi launch.
“While previously it has been virtually impossible to align individual investors’ portfolios with their own values, we can leverage the power of open banking and open finance to enable investors to build more greener portfolios.
“The partnership with SUGI demonstrates the true potential of open finance and its ability to solve complex real-world financial problems beyond account aggregation and payments.
“We are excited to work with Sugi to provide products that are not only the first in the UK, but also have a positive impact on the planet.”
After Prime Minister Boris Johnson announced the launch of the “Green Revolution” to mark London’s Climate Action Week, the launch is one of many new additions to an increasingly climate-sensitive economy.
This follows the court sale last week for Prime Minister Rishi Snack’s Green Guilt announcement.
