Sphere

About Sphere

Sphere, accessible via oursphere.org, is a pioneering startup offering the first climate-friendly 401(k) investment platform. This company is focused on providing employees at any company the opportunity to invest their retirement savings in a way that aligns with their environmental values. Sphere operates in the financial services and sustainability markets, targeting both individual employees and corporate clients who are committed to reducing their carbon footprint.

Sphere's primary product is the Sphere 500 Climate Fund (SPFFX), which tracks the Sphere 500 Fossil Free Index. This index includes the largest 500 U.S. companies, excluding those involved in fossil fuels. By offering this fund, Sphere enables employees to invest in a diversified portfolio that supports climate-friendly initiatives. The fund is designed to meet the fiduciary standards required for 401(k) offerings, making it a viable option for companies looking to enhance their benefits packages with sustainable investment choices.

The business model of Sphere revolves around providing a platform that integrates seamlessly with existing 401(k) plans. Companies can add Sphere's climate-friendly fund to their retirement plan offerings, allowing employees to choose this option for their investments. Sphere generates revenue through management fees associated with the fund, similar to traditional mutual funds and ETFs (Exchange-Traded Funds).

Sphere also offers a tool called AtmoSphere, which helps sustainability teams within companies measure the financed emissions from their 401(k) plans. This tool provides valuable insights and reporting capabilities, enabling companies to understand and reduce the carbon footprint associated with their retirement plans.

In summary, Sphere is a unique player in the financial services market, offering a climate-conscious investment option for 401(k) plans. It serves environmentally aware employees and companies committed to sustainability, making money through fund management fees and providing valuable emissions tracking tools.