The problem
Despite advances in technology that are improving accessibility, changing behaviours in personal finance is really hard. People rarely switch or alter their habits.
Women often have a smaller pension pot than men and are less likely to take out investments like ISAs. When they do invest, they are more likely to make values-based investments.
The challenge
How can we make it simpler for women to take climate action with their personal finance?
What if… we could use the power of peer-support to motivate and inspire women to make change?
What we did first: we piloted a series of groups to enable women to share their experiences of money in a safe space and support each other to take action. Following testing in London and Bristol we worked with Huddlecraft to train 15 volunteers to host groups in their homes, workplaces, parenting groups or round a table in the pub or cafe.
The pilot groups launched in April and ran until July 2019.
Impact to date
Over 375 women and allies have moved more than £3 million for the planet, with a further £7 million of actions planned.
"I have moved my current accounts to Triodos and Nationwide from Barclays. I am now investigating where my pensions are invested, and better options for doing so". A group participant.
Quotes from user surveys:
On a scale of 0-10
"I feel confident, capable and able to make things happen" = 8.25 (up from 5.7)
"An incredible programme. Of all the attempts at behavioural change initiatives I have seen, this model wins. An innovative, thoughtful approach to an age-old problem" Kate Ford