RappiPay
Your bank falls short in climate responsibility.
RappiPay does not have commercial lending, so it's not directly financing fossil fuels. However, it has large deposits with a number of other banks that are financing fossil fuels, such as JP Morgan. See below for more...
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RappiPay has not published a sustainability report, it has not disclosed it emissions, not set any targets, and it's not offering any "green" products (e.g., preferential interest rates on loans to buy EVs).
If they engage in energy financing, they are likely to lend far more to fossil fuels than renewable sources. They may have limited or no effective policies to improve their climate impact and may lack meaningful targets for reducing the emissions they are responsible for.
While they might show some engagement in sustainable practices or offer certain green lending products, these efforts are insufficiently developed or prominently displayed to make a significant impact.
Your bank may be ignoring the Paris Agreement.
The Paris Agreement set the goal to stay under 1.5°C of warming for very good reasons. According to the Intergovernmental Panel on Climate Change, an increase of just a couple of degrees more could lead to "substantial species extinction, large risks to global and regional food security", and an inability to work outside — or even live — in some areas of the world. Our world will become unrecognizable as ocean dead zones, floods, and extreme weather fuel social and economic disruption.
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