OAKLAND, Calif.--(BUSINESS WIRE)--CNote, a leading impact cash management platform for corporations, today announced the launch of Climate Cash™, a new solution that allows its clients to combat climate change through insured deposit accounts.
Climate Cash enables corporations to deploy cash deposits into a nationwide network of mission-driven banks and credit unions actively funding clean energy projects, energy efficiency improvements and electric vehicle loans in underserved communities disproportionately affected by climate change.
"The Climate Cash solution provides a powerful way for institutions to turn idle cash sitting in money market funds or conventional bank accounts into a force for positive environmental impact," said Cat Berman, CEO and Co-Founder of CNote. "By strategically deploying cash deposits, we can increase access to climate-friendly lending products like solar power installations and energy efficiency upgrades for communities in need."
CNote’s network of mission-driven depositories do not contribute to fossil fuel lending. In fact, a deposit into the Climate Cash strategy provides a transparent and accountable way for corporations and foundations to advance sustainability goals through the power of insured deposits.
With Climate Cash, every dollar deposited is protected by full FDIC or NCUA insurance coverage while earning a competitive return with flexible durations of overnight and 12+ months. CNote’s impact reporting provides data on the positive climate activities supported by Climate Cash deposits.
Example initiatives supported by the Climate Cash solution include:
- installing affordable solar power in low-income communities;
- funding energy-efficient appliances and green home/building upgrades;
- increasing access to electric vehicle financing to reduce emissions.
"Through the power of cash deposits, CNote is providing corporations and foundations with a unique way to directly support environmental justice and take measurable climate action with their capital," added Berman.
Climate Cash is the latest solution offered on CNote's impact platform, which has deployed over hundreds of millions to mission-driven banks, credit unions and investment funds addressing financial inclusion, climate change and more. To learn more about opening a Climate Cash account, please visit www.mycnote.com/solutions/.
About CNote
CNote is a women-led impact platform on a mission to close the wealth gap through financial innovation. Using the power of technology and a community-first framework, CNote enables corporations, foundations and individuals to efficiently invest at scale in fixed income and time deposit products that advance economic equality, racial justice, gender equity and climate change initiatives. As part of its offering, CNote delivers regular reporting on the social impact of deposits and investments made through its platform. A Certified B Corporation, CNote was a B Lab “Best for the World” honoree in 2019 and was named “Best Women-Owned Business” by the U.N. Women’s Empowerment Principles program in 2020.
