Clarity enhanced in sustainability assessment.
MyFairMoney, the digital banking service that started as a lending platform in October 2020, has taken a significant step forward in sustainable investing. The platform, launched by the think tank 2° Investing Initiative, has introduced a series of updates aimed at enhancing transparency and user control in the realm of sustainable investments.
One of the key features is the addition of additional indicators to consider the voting behavior (engagement) of fund companies. This allows investors to gain a more comprehensive understanding of the sustainability profiles of over 6,300 investment funds available on MyFairMoney.
Users now have the power to set their own acceptance limits on controversial companies within a fund. This feature provides a level of customization that caters to individual ethical and sustainability preferences.
The sustainability questionnaire on MyFairMoney serves as a benchmark for investors. It is being continually improved and optimized based on new regulatory requirements, ensuring it remains relevant and comprehensive.
According to Managing Director Jakob Thoma, there is a need for more transparency for consumers. MyFairMoney aims to provide comprehensive support to both investors and financial and banking advisors in the rapidly growing sustainable investing market.
The platform also plans to introduce a historical review of the Paris score to make the development of individual funds traceable. This feature will provide users with a clear understanding of a fund's sustainability journey over time.
In response to the growing demand for sustainable investing in Germany, MyFairMoney is expanding its services to an additional 27 European countries in October 2021. This move will allow the platform to cater to a wider audience and support the increasing interest in sustainable investments across the continent.
The platform's consumer survey shows that users who rate a topic as very important demand a complete exclusion without tolerance thresholds. However, opinions on individual aspects of sustainable investing are divided, according to Thoma. This underscores the need for a comprehensive questionnaire to identify sustainability interests and take them into account in investments.
MyFairMoney also aims to support financial and banking advisors in identifying sustainability interests of consumers and taking them into account in their investments. This collaboration is expected to bridge the communication gap that often exists between providers and consumers in the sustainable investing market.
In summary, MyFairMoney's updates and optimizations are designed to provide users with increased transparency, control, and understanding in the realm of sustainable investing. As the demand for sustainable investments continues to grow, MyFairMoney is poised to play a significant role in supporting both investors and financial advisors in making informed, sustainable investment decisions.
[1] Source: Various news articles and MyFairMoney's official website.
- The finance sector of MyFairMoney, a digital banking service, is advancing sustainable investing by introducing a historical review of the Paris score, allowing users to trace individual fund developments over time.
- In addition to the sustainability questionnaire, MyFairMoney's home-and-garden section has been improved to cater to individual ethical and sustainability preferences, enabling users to set their own acceptance limits for controversial companies within a fund.
- Recognizing the demand for transparency, MyFairMoney's business model aims to support both investors and financial advisors in making sustainable living choices, as it continues to expand its services across 27 European countries.
