Ethical investments app Goodments prepares for launch
07 July 2017 | 5232 views | 0
Goodments is creating a more sustainable future by making it easy for people to invest in good business, with an app that matches people to shares that fit their environmental, social and ethical values.
What is Goodments? Goodments is an app designed to help you put your money where your heart is.
Founded in Sydney Australia. Goodments is the brainchild of Tom and Emily, a husband and wife team, each with 15 years experience in finance and marketing respectively.
By overlaying independent sustainability ratings on financial data, Goodments gives users a complete picture of a business allowing them to match shares to a customer’s personal values. This is done with an algorithm that uses choice modelling to prioritise sustainability issues, as well as exclusions, to serve up a unique set of matches to each user. They can then explore and buy local and international shares through the app.
Why now? With many Governments de-prioritising sustainability issues and with 86 percent of millennials believing that a company is more responsible for sustainability issues than governments; it’s time to put the power into the hands of the people.
Importantly, it is also better for the wallet. With sustainable investments outperforming their polluting counterparts by as much as 3 times. Approximately 50 percent of institutional fund managers use an ESG overlay (environmental, social and governance), yet until now this information hasn’t been made available to the average joe.
Why will it succeed? Because the millennial generation are the most socially conscious ever seen. As of 2017, they are also the generation with the most spending power, wielding over $3 trillion globally and set to inherit $30 trillion in the next decade. Yet the current investment experience doesn’t align with their world view, as it is based on purely financial data. Goodments is changing that and in doing so, giving the 80 percent of this generation looking for property alternatives a better option.
How to help them launch: Goodments is undertaking a crowdfunding campaign on pozible, which has already raised 7K. With a witty video that plays to topical issues the millennial generation face. In exchange for generous support, there are a raft of great sustainable rewards - from Keep Cups and Who Gives a Crap toilet-paper to limited edition prints from talented photographers Sam Phelps and Elise Hassey.
How to sign up: Whilst the product is still in development with launch planned for end of August, Goodments has a waiting list. For every sign up they’ve committed to plant a tree, in partnership with seedthechange.org who have reforestation projects around the world.