The power of money

Your Challenge

This week, find out what your bank invests your money in. Is it sustainable sectors and solutions? And does it have strong restrictions in place about lending money to unsustainable sectors such as fossil fuels and deforestation?

You can start by checking on your bank’s website, but be aware of greenwashing (claims of green credentials that aren’t beneficial in reality). There are plenty of websites that provide information about banks’ unsustainable credentials (the Big Issue, Banktrack, ShareAction, etc), which you can use to cross check their claims. And of course you can do your own research into their investments.

The banks we choose to finance may shape all our futures. If you’re not satisfied with how your bank invests your money, it may be time to switch to a greener supplier! If you’re not ready to switch banks, you could say to your bank that you’re not happy with the way they use your money to finance dirty business (for instance, by using Make My Money Matter’s form to contact your bank). As a customer, you have a lot of power to change banks’ business priorities!

Why you're doing this

Thanks to their retail customers’ money, banks have enormous investment power, but they still invest in unsustainable industries.

At WWF, we are making recommendations to the finance sector as we recognise it can play a huge role in creating a more sustainable future, by shifting investments towards low-carbon opportunities.

Also, despite their size, banks are not immune from the effects of climate change. They risk losses, for example, from investments in fossil fuels that cannot be burned due to carbon restrictions, or from unpaid agricultural loans due to low yields. If you have money invested in these banks, this in turn could affect your investments’ financial returns.

Poor investment choices affect us all.

WWF, RSPB and the National Trust created a film showing the link between the finance sector and nature loss, you can learn more by watching the 23-minute video.

How you'll make a difference

You can drive change by moving to banks that share your values and support a better future! When switching banks, don’t forget to tell your old bank that you are leaving because of their exposure to unsustainable sectors and companies.

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