Sphere provides climate-friendly investment options specifically designed for 401(k) and 403(b) retirement plans. The company offers fossil-free index funds that vote shares for climate action while meeting fiduciary requirements. Additionally, the AtmoSphere platform delivers detailed climate impact analytics for existing retirement portfolios.
Funding
$4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many 401(k) and 403(b) retirement plans include investments in fossil fuels, despite growing investor concern about climate change and the financial risks associated with these assets. Employees often lack climate-friendly investment options within their existing retirement plans, forcing a choice between financial security and environmental responsibility.
Solution
Sphere provides climate-friendly investment options for retirement plans, enabling individuals and organizations to align their investments with their values. The Sphere 500 Climate Fund (SPFFX) tracks the Sphere 500 Fossil-Free Index, which comprises the top 500 U.S. companies by market capitalization, excluding those involved in fossil fuels, deforestation, civilian firearms, military weapons, private prisons, and tobacco. Sphere also offers AtmoSphere, a platform that measures and helps improve a company's 401(k)'s climate impact. By voting shares for climate action and offering low-fee investment options, Sphere empowers investors to promote a sustainable future without sacrificing financial returns.
Target Audience
Sphere's primary customers include HR managers, benefits managers, CFOs, and 401(k) advisors seeking to offer climate-friendly investment options to employees, as well as individuals looking to invest in a fossil-fuel-free fund.
Features
- Sphere 500 Climate Fund (SPFFX): A fossil-fuel-free mutual fund designed for 401(k) and 403(b) plans
- Sphere 500 Fossil-Free Index: Tracks the top 500 U.S. companies, excluding those in fossil fuels and other harmful industries, as defined by As You Sow
- AtmoSphere Starter: A free app that shows the climate impact of any retirement plan in America
- AtmoSphere Enterprise: A platform that helps sustainability teams measure and report financed emissions from 401(k)s and reduce those emissions
- Shareholder voting: SPFFX votes shares in the long-term economic best interest of shareholders, aligning with climate action, using As You Vote
- Low expense ratio: SPFFX is priced competitively with standard index funds
- Broad diversification: SPFFX invests in a diverse portfolio of stocks, minimizing risk
- Easy implementation: SPFFX is designed to be added to existing 401(k) plans without switching providers