Interactive Brokers the US-based online trading giant is extending its carbon offsetting service outside of the US.
Interactive Brokers carbon offset facility
Interactive Brokers is launching its carbon offset facility in Western Europe and Asia.
As we reported in early April see this link the carbon offset facility allows individual investors to calculate and offset their own carbon footprints at a fixed cost, on an annual basis. The offset facility is accessible through IMPACT Interactive Brokers’ mobile trading app for sustainable investing.
The ability to offset your carbon footprint through Interactive Brokers is down to a unique partnership between the broker, data specialist Sustain Life and the digital carbon exchange CBL.
Speaking about bringing the service to a wider audience Will Peterffy, ESG Director at Interactive Brokers said that:
“Sustainability and environmental consciousness are not isolated aspects, they speak to a collective culture. A culture that is aware of the interconnected nature of our global community. As a result, we continue to develop products that are in service to this collective culture,”
ESG investing and an awareness of the environment have really taken off in Europe.
Flows from European investors accounted for 77% of all ESG flows in Q3 2021, according to data from Morningstar, by comparison, the US accounted for just 11.0% of those flows.
The UK is at the forefront of the Ethical, Social and Governance investing trend with 30% of investors incorporating ESG into their whole portfolio.
As of the end of 2021, some $2.70 trillion of assets were invested with ESG and sustainability in mind.
In launching the carbon offset facility, as part of its impact investing app, Interactive brokers are hoping to tap into the ESG zeitgeist.
Interactive Brokers’ clients in the UK, Ireland, Hong Kong and Singapore, can now offset both their household and domestic carbon footprints, as well as any carbon emissions they may have generated through air travel, whether for business or leisure. All of which can be calculated and then offset using the functionality available on the Impact investing app.