Make sure your bank isn't using your money to support the fossil fuel industry.
Upon last check, the big four banks together had over $70 billion invested in fossil fuels. Imagine the impact that money could have if it were instead invested in clean energy and other sustainable pursuits!
Become part of the global divestment movement today and you’ll be joining more than 50,000 individuals and 612 institutions who have together divested about $3.4 trillion out of fossil fuels.
By taking your business to an ethical bank you ensure your hard-earned assets work for good, and you send a strong message to politicians and companies about the need to move towards a low-carbon economy.
Ethical banking refers not just to the way in which banks choose to invest your money – be it in the environment, educational initiatives, fossil fuels or the tobacco industry – but also to the basic values that underpin their daily operations. These values facilitate better workplace cultures, transparent and ethical transactions, and they dictate how a bank will interact with you, the customer. Banks’ annual reports and news articles are a good place to start to get an insight into their values.
Case in point
The Abbot Point Coal Terminal expansion proposal led many to call on Australia’s big four banks not to support the project because of the detrimental impact it would have on the Great Barrier Reef. One Australia Institute report found that if the big four banks supported a project like the terminal expansion, they risked customers shifting up to $236 billion in household deposits to other institutions.