25th January 2024
Green your banking
It is not just through our pensions that our money can make the difference between a fossil fuel shaped future and a liveable future. Banks and insurance companies also invest money on our behalf, and how they invest it makes a big difference. Ethical Consumer writes, “Banks have an enormous amount of power and wealth. UK banks recorded pre-tax profits of almost £50 billion in 2021. They therefore hold massive sway over the nature of our economies. The decisions they make now also have long-lasting repercussions. An oil rig funded in 2022 will last for 20 to 30 years. On the other hand, renewable infrastructure also has a long lifespan and needs a high amount of upfront investment, making banks’ support vital. On a consumer-level, ethical banking is also important, even if you think your savings aren’t worth much. For every £1 a bank holds, it can lend out £9.”
Choosing to bank with a green bank is an effective way of tackling the climate crisis.
https://www.ethicalconsumer.org/money-finance/ethical-banking
To find out more about green banking and how to switch banks easily visit – https://www.switchit.green/
The Green Tau 