An important part of being a consumer is using your dollars (or whatever currency you use) as a voting tool. It can be hard to decipher what matters and what doesn’t. For example, very few people know that the majority of plastic floating in the oceans is from discarded fishing nets. . . and many beached and dying mammals are found with their stomachs full of these nets. That means, that even though giving up single-use plastic bottles helps, giving up or dramatically reducing fish intake may have a bigger impact on ocean plastics! It can also be challenging to know who near you is taking action to reduce or reverse carbon outputs.

However, with my recent move from Arizona to California, one of the changes I’d had to face is moving my banking because like so many aspiring B-corps, I believe in keeping things local, which means my Arizona local credit union doesn’t offer the services I need here in California. Luckily, while chatting with a neighbor who is well-enmeshed in being proactively kind to people, and the planet… he made me aware of a company called Aspiration.

Aspiration is committed to sustainability and social responsibility. The company has pledged to donate 10% of its revenue to charitable causes and offers customers the ability to choose their own monthly fee, even if that fee is $0. Aspiration also uses its investment products to promote sustainability and social responsibility by offering customers the ability to invest in companies that are committed to environmental and social initiatives.

Here’s what else my research turned up. Aspiration is a financial company that offers online banking, investment, and retirement services. In terms of financial companies, it is relatively new. Founded in 2013 with the mission of providing socially and environmentally conscious financial products and services to consumers. Now, that caught my interest but is it a good option for me and my business?

Aspiration’s flagship Spend & Save account, which is an online checking and savings account that offers cashback rewards and competitive interest rates. The account has no monthly fees, no minimum balance requirements, and offers unlimited ATM fee reimbursements worldwide. I’m not gonna lie, I love this fee and ATM model! They also offer a debit card that is made from recycled ocean plastic and has a carbon footprint offset program. Remember what I said about our oceans?

In addition to its banking services, Aspiration also offers investment and retirement accounts with a robo-advisor service that provides automated investment management based on a customer’s financial goals and risk tolerance. Overall, Aspiration is a financial company that offers a range of online banking, investment, and retirement services, with a focus on sustainability and social responsibility.

As a consumer, there are several basic actions that consumers can take to be a part of the solution to the climate change problem.

1. Reduce energy consumption: Consumers can reduce energy consumption by turning off lights and electronics when they’re not in use, using energy-efficient appliances, and using public transportation or carpooling instead of driving alone.
2. Use renewable energy sources: Consumers can use renewable energy sources such as solar or wind power. This can be done by installing solar panels or wind turbines at home or by choosing energy providers that offer renewable energy options.
3. Reduce waste: Consumers can reduce waste by using reusable bags, water bottles, and containers, and by recycling and composting. This can help to reduce the amount of waste that ends up in landfills, which can contribute to greenhouse gas emissions.
4. Eat a plant-based diet: Consumers can reduce their carbon footprint by eating a plant-based diet. This can be done by reducing the amount of meat and dairy products consumed and choosing plant-based alternatives instead.
5. Support sustainable products and companies: Consumers can support sustainable products and companies by choosing products that are made from sustainable materials or that have a low carbon footprint. Consumers can also support companies that have sustainable business practices and are committed to reducing their carbon footprint.
6. Advocate for climate action: Consumers can advocate for climate action by contacting their elected officials and urging them to support policies and regulations that address climate change. This can include supporting renewable energy initiatives, reducing carbon emissions, and protecting natural resources.

Yet, the real challenge is knowing who and what causes the most damage or does the best it can for the planet and people. One thing that caught my attention is that Aspiration has a proprietary system for assessing environmental, social, and governance (ESG) data points across thousands of businesses. They call it the Aspiration Impact Measurement (AIM) Score.

AIM scores are determined using a rigorous process of collecting and analyzing over 75,000 environmental, social, and governance (ESG) data points across thousands of businesses.

Here’s a rough guide to how we crunch the data:

• For the People score, we look at how a business treats its employees, customers, and community. People metrics include employee pay, access to healthcare, equality of benefits, job safety, diversity, customer satisfaction, the impact of the business’s product and/or service on people, and more.
• The Planet score indicates a business’s environmental impact and includes metrics such as greenhouse gas emissions, energy efficiency, renewable energy use, water usage, the impact of the business’s product and/or service on the planet, and more.

Keep in mind every choice has pros and cons. Here is Forbes list:

Pros

• Competitive high-interest rate on savings account
• Socially conscious
• Little to no fees

Cons

• No ability to deposit cash
• Best way to reach customer service is through email
• Charge for an expedited debit card

I’ve got two weeks to make a choice about moving my business banking here to California. Do I use Aspiration or a local credit union? Your comments are welcome. Subscribe to the email list for first access to all blogs.