Unlike ESG ratings, which are typically complex and targeted at institutional investors and asset managers, Sugi – which is free to use – shows users the annual carbon impact of each investment in absolute numbers, alongside an industry average and carbon data for similar investments in the market.
The app displays impact data for over 15,000 listed equities – 95% of the listed equities market – over 3,500 exchange traded funds (ETFs) and certain actively managed funds, with plans to introduce a wider range of funds – and more environmental data – in the coming months.
Users link their investment portfolios, which can include ISAs and SIPPs, to Sugi via Moneyhub’s Open Finance API, enabling them to access personalised impact data. Moneyhub, a market-leading Open Finance data, intelligence and payments platform, connects to more than 80 online investment platforms, covering the majority of the UK market.
The app was founded by Josh Gregory, who, after building a 10-year career in investment funds, green finance and conservation, became increasingly frustrated with the lack of clarity surrounding green investing, particularly within retail investment.
“While COVID has accelerated awareness and demand of green investing, it’s hard for retail investors to take action. Research shows that over 75% of UK investors want their investments to have a positive impact; however, only a small proportion of people actually follow through with it.” – Josh Gregory, CEO and Founder of Sugi