Bank of the West, a subsidiary of BNP Paribas, has teamed up with 1% for the Planet to launch its first checking account designed for climate action. Bank of the West will donate 1% of net revenues generated from the account to support environmental non-profit organizations focused on creating a healthier planet. The first recipient of any funds generated by the initiative will be Protect Our Winters (POW).
“When you talk about climate change people are often at a loss as to what they can do personally to effect change,” said Ben Stuart, chief marketing officer at Bank of the West. “The 1% for the Planet Account allows consumers not only to bank with a group that is progressive on energy policy and is striving to meet the demands of the Paris Accord, but also that donates 1% of the account’s revenue to address climate change at no cost to the consumer.”
Key features of the 1% for the Planet Account include a carbon tracking tool that allows customers to view the carbon impact of every purchase made with the 1% for the Planet debit card; a debit card made from 100% biodegradable/compostable plastic; and no monthly service charge with one qualifying deposit per statement
“The planet needs support, and our growing network is doing its part to increase giving. Our business and individual members have donated more than $265 million to our environmental nonprofit partners to date,” said Kate Williams, CEO of 1% for the Planet. “Our members lead with purpose and commitment, values that consumers support. We’re excited to welcome Bank of the West with their 1% for the Planet Account to our global network. Whether you’re a long-time supporter of environmental causes, or prioritizing them for the first time, the 1% for the Planet Account is an easy way to give back at no expense to you.”
The launch of the 1% for the Planet Account is the latest action Bank of the West has taken to support a more sustainable planet through policies and investment. It has restricted the financing of fossil fuels, big tobacco, palm oil and other activities harmful to the planet
“When I learned that Bank of the West teamed up with 1% for the Planet to benefit POW, I couldn’t wait to sign up for a new checking account,” said professional skier and climate advocate Chris Davenport. “In fact, I recently switched all of my banking to Bank of the West because I don’t want my money to indirectly impact the planet in negative ways. I’m confident that as more people learn how their banking choices impact the planet, making a change will come easily.”
To learn more about the account and sign-up online visit: www.bankofthewest.com/OnePercent
