Discusses the importance of knowing where our money is invested and highlights ethical banks. Explores the impact of customer influence and Richard Curtis' campaign. Emphasizes responsible pensions and the effectiveness of ethical investments in fighting climate change.
Ethical banks like Triados have emerged to address concerns about how banks invest customers' money, offering alternatives for people who want to support environmentally friendly businesses.
Changing your pension to an environmentally sustainable fund is considered one of the most effective ways to fight climate change, with potential impact 21 times greater than avoiding meat and stopping flying combined.
Deep dives
Investing Money to Protect the Environment
Our money is not just sitting in the bank; it is being invested to fund various businesses, and some of these businesses may have environmentally unfriendly practices, such as oil drilling. Many people are unaware of where their money is being used. Ethical banks, like Triados, have emerged to address concerns about how banks invest customers' money. Banks jumping on the bandwagon of environmentally responsible investing have been accused of greenwashing, pretending to be environmentally friendly without taking substantial actions. However, customers have the power to influence banks' behavior by moving their money elsewhere, which inspired the Make My Money Matter campaign.
Changing Your Pension for Climate Change
Changing your pension to an environmentally sustainable fund is considered one of the most effective ways to fight climate change. This action is believed to be 21 times more impactful than avoiding meat and stopping flying combined. Richard Curtis, the British film director and creator of the Make My Money Matter campaign, was encouraged by former Governor of the Bank of England, Mark Carney, to promote responsible pensions. The more people demand ethical and transparent pension investments, the more banks will have to disclose their investment decisions, such as supporting renewable energy companies or large oil corporations.