Aspiration, America’s socially-conscious, sustainable financial firm, today announced that the company was named to B Lab’s 2018 “Best For The World” list. The company has been honored in the “Best For The World Overall” and “Best for Community” categories.
According to a comprehensive assessment administered by the nonprofit B Lab, Aspiration is among the companies creating a positive impact on the community and as a business. “We’re honored to be recognized as one of the best companies for our community and for the world,” said Andrei Cherny, co-founder and CEO of Aspiration. “It’s important that we as consumers and business leaders continue to put an emphasis on sustainability and that’s why Aspiration is continuing to take strides in our mission to have a positive impact on people and the planet.”
The “Best for the World Overall” and “Best for Community” lists each include businesses that earned a score in the top 10 percent of more than 2,400 Certified B Corporations on the B Impact Assessment. The full assessment measures a company’s impact on its workers, community, customers and the environment. Companies are evaluated by B Lab based on supplier relations, diversity, and involvement in the local community. It also measures the company’s practices and policies around community service and charitable giving, which takes into account whether a company’s product or service was created to solve a social issue.
”Being a Certified B Corporation means being part of a community of like-minded businesses that embed a social and environmental mission into their DNA and always strive to adopt best practices,” said Aspiration’s Sustainability Officer Lily Bowles. “We’re honored to be recognized for bringing mission and meaning to the world of money. Today’s customers are right to expect that their banking and investing reflect their values — and we hope more companies join us in this effort.”
Aspiration is one of the most charitable financial firms in America, donating 10% of its earnings to microloans and mentoring for low-income Americans. The company built a revolutionary “Pay What Is Fair” business model that trusts customers to choose the fee they pay, even if it is zero. Aspiration’s high interest, no-fee banking account was named the “Best Checking Account in America” by Money magazine and its fossil fuel-free, sustainable investment strategy outperformed the stock market’s S&P 500 index in 2016 (17.10% vs. 11.96%) and again in 2017 (22.50% vs. 21.83%). Last year, the company launched an Aspiration Impact Measurement (AIM) feature of its mobile banking app that allows customers to see their own personal Sustainability Scores and choose where they spend based on businesses’ impact on people and the planet.
Most recently, Aspiration launched a campaign for 1 million Americans to commit to move their money to sustainable banking and investing by Earth Day 2019.