Power of the crowd: The impact of 10 million Euros
The question is often asked: Can one person really make a difference in the fight against the climate crisis? We’ve always believed the answer is yes — and this week, you proved us right.
Crowdinvestors on ecoligo.investments have now collectively raised 10 million Euros to fund clean energy projects around the world. What’s remarkable about this milestone is not the number alone, but the fact that it’s made up of thousands of individual investments — proving that when we unite around a common goal, individuals can indeed have a huge impact.
Let’s take a look at what 10 million Euros can do and why the power of the crowd will continue to be the key to combating the climate crisis.
10 million Euros: How far does it go?
First, let’s consider what 10 million Euros looks like when it’s put into action. With this, crowdinvestors have made 60 clean energy projects possible, providing 40 businesses on 3 continents with affordable, renewable energy. For these businesses, whose high energy costs greatly impact their operations, this translates into more stability and freedom to grow – sustainably.
The climate impact of this amount is even higher. Over the lifetimes of the projects financed so far, more than 126,000 tonnes of CO2 emissions will be avoided. That’s the yearly footprint of 11,500 German people, offset by the investments of 2250 individuals.
Sustainable investing: More impactful than you think
According to Nordea bank, using your money sustainably can be 27x more impactful than other forms of sustainable behaviour. This is because the majority of classic investment or pension funds are used to finance fossil fuels, without investors even being particularly aware of it. As fossil fuel markets become increasingly unstable, investing in renewable energy is not just good for the planet; it provides more financial sustainability, too.
The impact of sustainable investing will continue to grow, as technologies become more effective. And the market is huge: the climate investment gap is estimated to be between $5 and $7 trillion per year. With governments unable to bridge this gap, the role of capital markets and private investment will be pivotal in our fight to save our planet.
Changing the status quo
While it might feel like one person’s behaviour is a drop in the ocean, thousands of people taking action creates a wave, leading to far more than the sum of the direct impact made. Sustainable choices lead to market changes: consider how the vegetarian section in supermarkets looks compared to five years ago, or how the coverage of climate issues in the news has increased following demand from people who are becoming ever more aware of the crisis. What began as a lifestyle choice for many has grown into a change in the status quo.
In finance, we’ve seen this change firsthand. Growing demand for sustainable finance opportunities is reflected by the companies that have emerged to meet this demand, like Tomorrow, Cooler Future, and mattrvest. As individuals become more aware of the power of their money, their reaction is to use that power to create a better world.
Greta Thunberg’s recent statement is a reflection of this.
There is hope.
Because the people have not yet been made aware.
Greta Thunberg, 2020
We believe this too: over the past 5 years, we’ve been blown away by the eagerness of people to make an impact, when given an opportunity to do so. It is this eagerness that has enabled us to reach the 10 million milestone and we’d like to thank all of the investors who have been a part of this.
We believe that we can fight the climate crisis, that we have the tools, and that it’s going to take collective action to do so. Whether it’s investing sustainably, raising awareness, or simply taking more care of the world around you, what we do in the next few years will change the course of climate history. Let’s make an impact, together.
Make an impact with your money by investing in solar projects that drive the global energy transition. The platform is currently only available in German but will be opening to EU countries later in the year: sign up here to get on the waitlist.
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