UK-based FinTech, Akoni Hub, embedded sustainability provider ekko, and Bank of London and The Middle East (BLME) have announced the launch of their Planet Saver savings product.
Savers will be able to apply for the product using Akoni Hub (part of the Stubben Edge Group).
In partnering with ekko, Akoni Hub and BLME are enabling people with their ‘world-first’ Planet Saver account, a product for savers who want to put the world first when making decisions about their financial futures and allowing them to create a positive environmental impact. Through these accounts, both businesses and individuals can invest and grow their savings at the current market rate, while contributing 1% to a range of environmental impact projects, such as reforestation, animal conservation, and preventing plastic from entering our oceans.
The ‘Planet Saver’ Fixed Term Deposit Account gives savers the opportunity to earn competitive rates on their savings, whilst contributing £1 in every £100 saved to environmental or conservation projects. Initially launched with 3-month and 12-month fixed term deposits, at maturity, savers will receive their capital and share of profit, while supporting a range of sustainable causes in the ekko portfolio. This includes global positive-impact projects such as Tusk, Conservation International, Prevented Ocean Plastic and Gold Standard.
Chris Kenning, Group CEO of Stubben Edge said, “The ’Planet Saver’ account puts power in the hands of savers - the power to make their savings work harder for them while also working smarter for the planet. In a world where finance and conservation are often viewed as mutually exclusive, ‘Planet Saver’ proves that financial services providers, conservation and environmental projects and consumers can come together to provide real-world solutions to the urgent problems faced by societies across the globe.”
Oli Cook, CEO and co-founder of ekko said “We are delighted to be enabling what we believe to be a ‘world-first’ in the ‘Planet Saver Account’, bringing a new way to support conservation efforts to the market in a seamless and efficient way with Stubben Edge, Akoni, and BLME. Through this new product, we will be able to make a real difference to the projects we support, making a real impact across the world. This is just another example of how ekko can embed sustainability into everyday products, and this partnership shows a real commitment from the industry to deliver climate positive impact.”
Andrew Ball, CEO of BLME said, “Planet Saver allows customers to open a savings account which delivers both competitive rates and a positive environmental impact. By partnering with Ekko and Akoni Hub to launch Planet Saver, BLME is helping savers contribute to a range of sustainable causes, including reforestation, wildlife conservation, and the reduction of plastic pollution.”
Dan Bucknell, Executive Director at Tusk commented: “If conservation is to succeed in the long-term, we need to have innovation, new sources of income, and the ability to put benefits to the planet at the heart of our spending habits. This Planet Saver account with ekko, BLME, Stubben Edge, and Akoni Hub provides all three, and Tusk is very excited to be partnering with them and to have the opportunity to convert consumer spending and donations into significant benefit for the people and wildlife of Africa.”