Interactive Brokers Releases Carbon Offsets through Its IMPACT App

US-listed brokerage firm Interactive Brokers (Nasdaq: IBKR) announced on Wednesday that it launched Carbon Offsets, which will be available through its mobile trading app IMPACT.

According to the press release, the Carbon Offsets tool now allows investors to choose from activities that emit greenhouse gases, such as household, transportation and food, or enter a specific amount of carbon to offset in dollars or tons.

“Sustainability and environmental consciousness are not isolated aspects, they speak to a collective culture. A culture that is aware of the interconnected nature of our global community. As a result, we continue to develop products that are in service to this collective culture. Carbon Offsets makes it easy for our clients to participate in the emerging collective culture dedicated to stewarding our planet while investing in companies that further align with their values through the IMPACT app,” Will Peterffy, the ESG Director at Interactive Brokers, commented.

How it Works

As a result, Interactive Brokers sources and retires Carbon Credits at the appropriate agencies, enabling investors to reduce their carbon footprints to a certain extent while achieving broader sustainability goals. If a client plans to fly from New York City to Hong Kong, they can check out offsets by category on the IMPACT app homepage by tapping the 'Offset Your Carbon' banner.

Once the client has selected the flight time in hours, they can purchase carbon offsets to make a positive impact on the environment. In addition, it permits clients to track their progress toward reducing their carbon footprint by showing the number of tons of carbon that have been neutralized in their app and on their account statements.

Recently, Interactive Brokers launched IBKR GlobalTrader, a mobile trading application for investors to trade stocks worldwide. With over 80 stock exchanges in North America, Europe and Asia, investors can open an account in minutes and start trading stocks.