Pete Hellwig wants his money to not only NOT fund fossil fuels but ACTIVELY fund renewable energy

The Co-founder of Atmos Financial answers 21 questions with Mighty.

9-16-2020

Name:  Pete Hellwig

Age:  37

Neighborhood:  San Francisco Bay Area 

Occupation:  Founder at Atmos Financial, a new banking service that is wholly dedicated to funding a rapid transition to the clean economy. Like many bank offerings, Atmos promises that your money won’t finance fossil fuels. Atmos goes further, however, in guaranteeing that 100% of your money will actively fund renewable, regenerative, resilient, and efficient climate solutions.

Where do you bank?

I use Schwab for my checking and savings accounts. I use First Republic Bank for a joint account with my wife. And I’ll be banking Atmos once it goes live.

For each bank you use, why did you choose it?

I use Schwab because it easily links to brokerage services. My wife and I chose First Republic Bank for our home mortgage because we had a connection there that was able to provide us good service and a great rate. I’ll bank with Atmos once we go live because it’s the bank that I’ve always wished existed: a bank that actively funds climate solutions versus just avoiding financing the most polluting of activities.

What’s the top thing you need in a bank?

Convenience and a climate-positive agenda, equally. 

Describe what you do in your job, in one sentence.

I’m creating a banking platform that uses 100% of deposits only to finance clean energy and climate-positive projects, specifically: renewable energy, regenerative agriculture, electric transportation, weather resilience, building electrification, and energy efficiency overhauls, and not fossil fuel extraction, clean energy projects that displace Black, Indigenous, or other other frontline communities, fast fashion, industrial agriculture, industrial livestock production, generic real estate, nor other projects that harm the environment and in result, people living in it.

What’s a piece of money advice you live by?

Live minimally.

Are you a finance person?

Yep.

What’s a finance person, anyway?

For me, being a finance person means structuring financial transactions to solve problems for multiple sides and taking into account costs, benefits, risk tolerances, and acceptable compromise.

What was the name of the first bank you ever had an account with?

Wells Fargo.

Do you remember anything from going to the bank as a kid?

I remember riding in the car to bank branches around town on Saturday mornings with my Dad who used to hang American flags in bank branches as a way to make some extra money for our family.

Tell us about a neighborhood that’s special to you, and why it’s special.

The Ashbury Heights neighborhood in San Francisco is special to me. It’s where my wife and I got to know each other, and The Ice Cream Bar.

What’s the last thing you used cash for?

Tipping.

Cash, card or mobile?

Card for 99% of my life. 

What finance-related article, book or move has made an impression on you?

The Bridge at the Edge of the World by James Speth. I’ve read a number of books and articles about the intersection of economics, finance, and climate, and this one continues to stand out.

If you were the professor of an economics class, what would your course be called?

“Global Warming and the Future of Banking” 

What does wealth mean to you?

The circumstances that bring happiness and fulfillment: strong relationships, a sense of purpose and love, and the financial flexibility to pursue endeavors that bring you joy.

Can you give a recent example of how you used your money to make a difference?

I make a concerted effort to buy local and support businesses that share my values every opportunity I can. 

What will you do with all the bank interest you’ll earn in the next year?

I’ll donate it. Atmos will enable account holders to automatically donate their interest to non-profits working for climate-positive solutions. Most people don’t notice their interest in their bank account, but people notice what it feels like to be part of moving climate solutions forward. And a lot of people donating their interest like this can result in meaningful funding for important work.

Sign up to reserve your spot to get an Atmos account.

Finish these sentences:

Money _

has the power to transform our economy to a just, fair world, or to perpetuate the status quo of inequitable wealth creation, suffering and exploitation.  

Banks _

fail to recognize their very large contribution to many of the systemic issues our society faces today.

Mighty _

change is the accumulation of deliberate small actions.

What’s a dream you have for the world?

That more and more people accept a greater responsibility for stewarding our Earth for future generations and not sacrificing all of our tomorrows while living for today.

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