Why moving your money is so powerful

The finance sector plays a vital role in deciding the types of projects that take place around the world – by providing the money needed for them to happen. This could include anything from financing building and infrastructure projects, to providing the money needed to develop renewable energy systems.  

Right now, despite the climate emergency, there’s still a huge amount of investment and lending going into fossil fuels and other unsustainable industries – which poses an enormous threat to the future of our one shared home. The warmer our planet gets, and the more we destroy nature, the more people and wildlife around the world will suffer.

But when it comes to banks – we all have a role to play in driving change. A large proportion of the money lent or invested by financial institutions in harmful practices and companies comes from all of us. For example, there is around £3 trillion in UK pensions! This is a huge amount of money that could all be invested in a greener future instead. In fact, making sure you have a sustainable pension is one of the most powerful things you can do to reduce your personal footprint. By one estimate, it could have 27 times the impact of giving up flying and going vegan combined! 

By asking our banks or pension providers to take environmental considerations fully into account in their lending and investment decisions, we can make sure the finance sector is helping to build the cleaner, greener future we all need, rather than supporting the harmful industries destroying our planet. Check websites such as Make My Money Matter to understand how to green your pensions or how to ask your bank to stop financing fossil fuel expansion.