Clean Up Our Cash
UK banks are using our money to fund climate change.
It's time we took back control.
When we put money into our bank accounts, I guess we all like to imagine it sitting there in some ornate nineteenth century safe with the name of the manufacturer embossed on the door? We think of our money as static - placed in piles and wrapped in thick rubber bands, stacked away where no one can touch it.
The reality, of course, is very different.
Banks use our money.
They invest it and they loan it out to other companies for a profit. That’s where our interest rates come from (our tiny, pathetic interest rates). We rely on our banks to look after our money and, implicit in that, is our assumption that it won’t be used in ways that compromise our values.
Most of us probably don’t want our money invested in companies that make weapons, for instance - although death is most certainly a profitable industry. Similarly, I’m sure the vast majority of us would prefer not to invest in companies that extract and burn fossil fuels? Much better that our hard-earned cash be used to support clean energy initiatives that are sorely needed to combat climate change and ensure a future for us and our global neighbours.
So that’s our new campaign - ask our banks to not only make smart investments but ethical ones also - to move away from supporting fossil fuel-loving industries and towards smart, forward-thinking companies who care about our planet’s future.
If we’re going to meet the commitments set out in the recent Paris agreement then we can’t keep acting like this isn’t a very real and very pressing problem.