Clim8 to close customer accounts on 30/05/23
28 March 2023 Inside Clim8
Updated as of 28/03/23
We would like to start by thanking our customers, investors, partners, suppliers and supporters for being part of the Clim8 community during our journey. It is with deep sadness that we have made the decision to start the process to close customer accounts as of 28/03/23.
This blog will explain why we have made this difficult decision, and hopefully answer any questions you may have at this time.
We started Clim8 in 2019 with the dream of bringing truly sustainable investing to anyone, focused on investing into companies with climate impact solutions.. We have seen a large amount of greenwashing in financial services around so-called “ESG” investing and we wanted to offer a better product.
Trying to disrupt an industry is a big mountain to climb. Coupled with dramatic changes in the economic environment and inflation, the appetite for investing in startups has changed over the last year. We have been unable to secure further venture capital to fund the ongoing business.
Over the last few months we have pursued a number of strategic options and had a range of good interest, however we have not been able to secure a positive outcome from any of these avenues.
How are Clim8 supporting their customers?
We have sent communications to our customers and other key stakeholders to make them aware of this change to the business. We are working with our customers to help them transfer or withdraw their funds. We are working with the account custodians WealthKernel who are FCA regulated and ensuring our customers’ funds remain protected throughout this process.
Wealthify are also offering our customers a welcome bonus when moving their portfolio(s) to their Ethical Plans which aim to invest sustainably and exclude industries that are harmful to society and the environment. Clim8 will receive a small fee for any customer transferred.
The Clim8 team
We want to thank our valued team, past and present, who have supported us during this journey, and wish them the very best for the future. .
We are extremely appreciative of the support we have had from everyone. Thank you.
Duncan Grierson, CEO Founder & the Clim8 team