Cloud9's Dedication to Eco-Friendly Banking Practices
At Cloud9, our commitment to sustainability extends beyond our innovative product offerings, influencing every facet of our business operations, including our choice of banking partners.
We've consciously chosen to partner with an eco-friendly bank, Sunrise Banks, right here in the Twin Cities–ensuring that our financial activities support our environmental goals. This decision is integral to our strategy to actively reduce global carbon emissions and reflects our broader mission to foster a more sustainable future.
The Significance of Eco-Friendly Banking
The role of banks in the economy is undeniably significant, with their investment decisions having a profound environmental impact. Traditional banks often invest in carbon-intensive industries, contributing to greenhouse gas emissions. In contrast, eco-friendly banks prioritize renewable energy, conservation, and sustainable projects. By aligning with such institutions, Cloud9 ensures our financial resources contribute to initiatives that promote environmental sustainability.
The impact of eco-friendly banking is twofold. Firstly, it directly supports the transition to a low-carbon economy by funding renewable energy and sustainability projects. Secondly, it sends a clear message to the financial industry about the importance and viability of sustainable investments, encouraging a sector-wide shift towards greener practices. For Cloud9, banking with eco-friendly institutions is a critical part of living our values, demonstrating our commitment to environmental stewardship in all aspects of our operations.
The Impact of Personal Banking Choices
Personal banking choices have a significant impact on greenhouse gas emissions. For the average person in the U.S., banking can be a large source of indirect emissions. Consider this: every $1,000 in savings can be roughly equivalent to the emissions generated by flying from New York to Seattle. Furthermore, data shows that eleven of the largest U.S.-based banks allocate, on average, 19.4% of their portfolios to carbon-intensive industries, with some lending as much as 30%.
Switching to a climate-responsible bank can dramatically reduce an individual's personal banking emissions—by as much as 76%. This makes changing banks a powerful, straightforward, and cost-effective action for climate change mitigation. Cloud9's decision to bank eco-friendly is rooted in an understanding of these facts and a commitment to making choices that align with our environmental principles.
About Sunrise Banks
Sunrise Banks is dedicated to sustainability and has taken concrete steps to incorporate environmental responsibility into its operations. As a certified B Corp and a member of the Global Alliance for Banking on Values, Sunrise Banks is part of a network of financial institutions focused on positive change in the banking sector. They invest in environmentally friendly projects, aim to reduce their carbon footprint, and support community efforts toward sustainability. Furthermore, Sunrise Banks is working towards becoming carbon-neutral, showcasing their commitment to making a real impact on environmental sustainability through their banking practices.
Encouraging a Shift Towards Sustainability
Cloud9 aims to inspire a broader shift towards sustainability by sharing our decision to bank with eco-friendly institutions. We believe it's crucial for businesses and individuals alike to consider the environmental impact of their financial practices. Choosing an eco-friendly bank was essential for us to truly live by our values and build a company that prioritizes the health of the planet in every operation.
For Cloud9, this choice underscores our deep commitment to sustainability, extending beyond our product range to embody our entire business philosophy. We recognize the importance of contributing to a healthier planet through every aspect of our business operations. We encourage everyone to consider the impact of their banking choices and take action by supporting financial institutions that prioritize the planet. Together, through thoughtful decisions like switching banks, we can make a significant difference in the fight against climate change.
To learn more about Eco-Friendly banking and understand how personal banking choices impact the climate, give this report from Drawdown a read.