Our purpose
A defined
mission:
Transform the financial system into a force for creating a more just, equitable, and regenerative world.
Why this work is important?
Around the world, organizations and individuals are working tirelessly to minimize their environmental impact. They are taking steps such as switching to renewable energy, electrifying their fleets, and reducing their consumption. Yet, very few are utilizing one of their most powerful opportunities for generating impact: their banking and investing.
We often regard extractive industries as the engine driving the environmental crisis. However, the money that funds these industries comes from the world’s largest financial firms, which in recent years have lent and invested more than $20 trillion to the carbon-intensive industries fueling climate change.
Despite this history, the financial system represents our best avenue for mitigating the environmental crisis because it can transition trillions of dollars away from financing climate drivers and into climate solutions.
However, this transition is not happening nearly fast enough.
4 to 1 clean v. dirty To reach our global climate goals, we need investment in renewable energy to surpass fossil fuels by a factor of 4X this decade. Currently, that ratio is about $0.90 of low carbon energy investment for every $1 flowing to fossil fuels.
Simply
put:
A Dangerous Trajectory
The financial sector is on track to fund emissions generation well beyond the goal of limiting global warming to 1.5°C, which scientists say is required to maintain a safe planet.
Insufficient Pressure
Despite mounting pressure from politicians, shareholders, and activists, financial firms are not reforming fast enough to align with global climate goals.
Our core belief:
Financial firms' customers—from the biggest companies in the world to everyday individuals—can play a powerful role accelerating the global climate transition.
This core belief is grounded in one key fact:
The money being invested in these industries is customers’ hard-earned money—the very same money customers are depositing in their bank accounts and investing in the market.
20-30%Our research shows that if you bank with the largest banks based in the United States, you may be unknowingly lending up to 20%–30% of your money to the industries most responsible for fueling the climate crisis.
Source: Topo Finance
This all leads to…
A clear vision:
A future in which all businesses, organizations, & individuals leverage their banking and investing to drive environmental and social progress.
“Where the money goes, so go the emissions. Corporations serious about emissions reductions in line with the science must work with their banks to understand and ultimately eliminate emissions associated with their corporate cash.”
—Christian Figueres
Former Executive Secretary, UN Framework Convention on Climate Change
*A quote of support from “The Carbon Bankroll” report
To make progress, we must all work with shared and aligned values.
Topo Finance’s values are fundamental to our success. Given the inherently difficult nature of the projects we undertake, the path to success is always long, arduous, and replete with unexpected twists and turns. However, our values serve as a moral compass and guiding light that ensure we effectively and ethically navigate the complex nature of our work.
A Fundamental Right
Access to a healthy environment is a fundamental human right and must be guaranteed for all people, no matter their race, religion, gender, sexual orientation, socioeconomic status, or political beliefs.
Be a Humble Trailblazer
Forging seismic impact progress requires challenging conventional approaches, taking risks, and blazing new trails through complex terrain. The only way to ensure these trails reach our desired destination is to be humble, embrace change, and employ inclusive design.
Seek Seismic Impact
Guaranteeing this right requires developing seismic solutions that meet the scale of this challenge. We have the power to create these solutions, but to do so, we must think long term and take a systemic approach that addresses the root causes of these problems.
Practice Resilient Optimism
The long-term, systemic challenges we seek to solve require embarking on grueling journeys. To succeed, we must have immense grit, a passion for adventure, and the resilient optimism that we can overcome any challenge—no matter how insurmountable it may seem.
Succeed Together
To successfully navigate the myriad generational challenges facing society and the planet, we must set aside our differences and short-term interests, unite around our shared values, employ deep empathy, and work together to build a better future.
Be an Activating Service
All people, organizations, and businesses can be agents of progress; but to unlock this power, we must meet these individuals and entities where they are and equip them with the powerful tools they need to drive change.