Ando StoriesAndo InvestingFrom the CEO's Desk

Ando: Shifting to Green Loans

Most people don’t realize that the money we have on deposit is utilized by the bank to make loans and purchase securities. (This is how traditional banks make money.) Unfortunately, banks do not tell you what they do with your money, and most banks do not take into consideration the impact the loan will have on emissions.

This is where Ando is different. We're committed to reversing the devastating effects of climate change, so we invest exclusively in green initiatives like renewable energy and regenerative agriculture, and we’re 100% transparent about where we make those investments. In stark contrast, traditional banks end up making loans and buying securities which negatively contribute to additional emissions.

For example, banks in the U.S. have over:  

$5 trillion in loans to industry and businesses. This includes loans made to industries and businesses which contribute to an increasing growth in emissions. Below is a partial list of industries which contribute to emissions.

  • Cement industry - If the cement industry where a country, it would be the 3rd largest emitter of emissions, producing 8% of global emissions--a greater share than any country other than China and the U.S. Fortunately, improvements can be made to the process of creating cement, the type of power utilized by cement producers, and alternatives for certain uses. https://www.carbonbrief.org/qa-why-cement-emissions-matter-for-climate-change

  • Automobile industry - Collectively, cars and trucks account for nearly 20% of all U.S. emissions. The global car industry exceeds the carbon footprint of the entire European Union. In 2018, there were 80 million new internal combustion engine cars and trucks sold worldwide, and 17 million in the U.S.. Banks provide loans to support the continued production of internal combustion engine transportation. In the U.S., traditional banks finance 85% of new cars and trucks sold.

  • Manufacturing, food processing, mining, and construction - About 20% of all US emissions come from these sectors. There are many ways to reduce emissions, including energy efficiency, fuel switching, combined heat and power, and more efficient use of materials and recycling. https://www.c2es.org/content/regulating-industrial-sector-carbon-emissions/

  • The fossil fuel industry - Since the Paris Agreement in 2016, banks have financed fossil fuel industries to the tune of more than $3.8 trillion. U.S. banks Chase, Wells Fargo, Citi, and Bank of America are the world’s four largest financiers of the fossil fuel industry. https://www.ran.org/bankingonclimatechaos2021/

  • The airline and shipping industry - The airline and shipping industries account for more than 5% of the world’s emissions.

  • Commercial real estate - Building (commercial and residential) accounts for roughly 29% of total U.S. emissions. By making the buildings more energy efficient, major opportunities to reduce emissions from buildings are available.

$3.9 trillion in loans to consumers. This includes loans made to consumers which contribute to an increasing growth in emissions. Below is a partial list of consumer loans which contribute to emissions.

  • Automobile loans. See above.

  • Real estate loans. See Commercial real estate above.

  • Unsecured loans. Almost all unsecured credit does not take into account emissions.

Written by:

JP McNeill | Chief Executive Officer

JP McNeill is the founder and CEO of Ando, the leader in Sustainable Banking, where 100% of customer deposits are invested in green initiatives. Environmental advocacy isn’t fashion or a lifestyle for JP--it’s at the soul of his life’s work.

Ando's green initiatives 

How are we investing in a better future?

Discover the industries that are making a difference. 

Clean Energy

Clean Energy

Solar, wind, water——clean energy is revolutionizing the way we power our planet.

Read more

Sustainable Transportation

Sustainable Transportation

Leaving fossil fuels in the dust, sustainable transportation is fueling a cleaner tomorrow.

Read more

Green Buildings

Green Buildings

It's more than just a color. Green buildings are making architecture and construction cooler and cleaner.

Read more

Sustainable Industry

Sustainable Industry

Reuse it or lose it? Sustainable industries are working towards less waste around the world.

Read more

Sustainable Agriculture & Forestry

Sustainable Agriculture & Forestry

Pivotal to the future of our planet, sustainable agriculture and forestry are rooted in positive change.

Read More

Start fighting climate change by banking smarter

A mobile banking experience with features designed for you and your world. Fee-free and carbon-free, always.

Get $15*
when you join Ando

Get up to $15* when you receive a qualifying direct deposit of $100 or more and use your debit card up to five times in the first 30 days—and discover how you can help fund a more sustainable tomorrow just by banking better. View Terms and Conditions