FT Adviser: Climate philanthropy built into platform in ‘first of its kind’ collaboration

October 16, 2023

FT Adviser has covered the ground-breaking partnership between the Global Returns Project and Fundment, which integrates climate philanthropy into one of the UK’s leading investment platforms.

FT Adviser‘s Tara O’Connor writes:

Advisers are now able to donate their clients’ money to climate charities at the click of a button thanks to a new platform partnership. 

Fundment has partnered with the Global Returns Project which promotes philanthropy as a form of sustainable investing. 

Currently it splits donations between seven “high impact” charities including environmental law firm Client Earth and Solar Sister which provides clean energy in the global south. 

The organisation works with a team of  environmental scientists to choose the charities and re-assesses the selections every six-months, replacing them if it identifies charities performing even more strongly.

Fundment has integrated a new tool into its platform which allows advisers to move clients’ money directly to the Global Returns Project, which distributes the cash evenly to the charities. 

Jack Chellman, chief project officer at the registered charity, said it takes a “fund management approach to philanthropy”. 

About the new collaboration with Fundment, he said: “It is about making it ultra easy for advisers. 

“If an adviser is sitting with a client and they say they want to give to the charities, the withdrawal is done directly through the platform.

“Our message is climate charities deliver the impact that a lot of investors want when they think about sustainable investing. Philanthropy should be part of asset allocation.”

The collaboration is believed to be the first of its kind and is the first time philanthropy has been integrated into a platform in this way.

“We want to be bringing in significant amounts and we want to inspire copycats,” added Chellman. 

Fundment CEO Ola Abdul, said the update will allow advisers to “further personalise and deliver on their clients preferences.”

Abdul added: “Because it’s built right here at Fundment, our technology is in the perfect position to make this kind of philanthropic endeavour possible.

“We hope that this partnership will inspire other successful collaborations so more and more financial services companies offer clients the choice to make a positive impact.”

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