Whether you think of yourself as an investor or not, your money matters to local and global economies. Even an action as simple as opening a checking or savings account or applying for a new credit card makes a difference. Understandably, the task of learning which banks invest in fossil fuels and which bank on a green energy future can seem like a a daunting challenge.
We want to empower you to take control of your bank accounts, in addition to your investments, retirement funds and more. Click here to check out the new “Banking” section of our site.
Most major banks — like most mutual funds, 401(k)s, pensions and other retirement accounts — are still investing in fossil fuels. That is starting to change. DivestInvest Individual has been at the forefront of a series of campaigns challenging the biggest banks in the world to stop funding the worst pipeline projects in North America, including the Dakota Access pipeline and Keystone XL, among others.
Collectively, those campaigns have demonstrated a growing global appetite for fossil free and low carbon banking options, and have begun to move markets. There are climate-responsive banks like Amalgamated Bank, offering competitive banking and lending services without investing in climate chaos. There are also locally owned credit unions and CDFI’s that operate for the benefit of their customers and in many cases are free of fossil fuel ties.
Consumer demand and innovative entrepreneurship are accelerating shifts in the supply of values-based financial institutions and investment vehicles. With a little effort, you can ensure that your money’s impact reflects your values and builds an economy that serves people, communities and planet.
If you’re ready to switch banks, or want to get a lay of the land in terms of banking, credit cards and consumer finance currently fighting climate change, check out our new Banking section for tips, links, and perspective on how to Divest and Invest your money.