Keeling Curve

Primary Project Category:

Project Summary / Description:

Many companies have pledged to meet net zero goals and climate commitments, but have overlooked the impact of retirement investments and cash deposits supporting fossil fuel intensive industries. By quantifying this impact, corporations may have additional opportunities to meet net zero goals. Impact Experience is incubating the Business for Climate Finance Initiative. The Business for Climate Finance Initiative was launched with two goals in mind: 1) assess and disclose the climate impact of corporate cash deposits and retirement funds and 2) decarbonize bank accounts and employee retirement plans, starting with a group of leading US companies. Through research and convenings, the Initiative will help support communities of practice among companies who will be working toward these goals applying a unique Justice, Equity, Diversity and Inclusion lens.

How Project Affects Greenhouse Gas (GHG) Emissions:

Replaces/avoids GHGs (e.g., projects that replace sources of GHGs, such as the burning of fossil fuels for electricity, heat, transport, or other energy uses), Reduces GHGs (e.g., projects that reduce sources of GHGs, such as through efficiency or other changes in consumption)

Best Estimate of GHG Avoidance/Reduction of This Project (Tonnes CO2 Equivalent/Year):

Impact on Underrepresented Groups:

The Business Climate Finance Initiative focuses on the intersection of climate justice and racial justice to ensure that justice, equity, diversity, and inclusion are at the forefront of climate change discussions. A significant focus of the Initiative is unlocking capital into minority deposit institutions, community development finance institutions and credit unions that are focused on the intersection of climate and racial justice. The Initiative engages large tech companies, as well as supports the largest healthcare company in the country around conversations and action on the intersection of social determinants of health, corporate treasuries and retirement funds as they relate to environmental justice priorities. Additionally, decarbonizing retirement plans and cash deposits from carbon intensive industries directly improves the lives of BIPOC communities who are more likely to live in locations that experience severe weather, air pollution, and water pollution directly caused by emissions.

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Mission Statement:

Impact Experience has worked at the intersection of investing and racial equity, and climate justice since inception. By utilizing research, education, stakeholder engagements, and investment strategies, we are uniquely positioned to support theories of change from inception to implementation. The Business Climate Finance Initiative approaches climate finance from a structural perspective determining barriers to progress and identifying opportunities to support systemic change within the United States financial system.

Link: Twitter:

@impactXperience

Link: Instagram:

@impact_experience

Greatest Current Funding Need: