Most Australians have bank accounts, and collectively, it’s safe to say it adds up to a helluva lot of money. The difficult truth, however, is that there are also a helluva lot of banks who use that cash to support fossil fuel, nuclear weapon production, live animal exports and big gambling.
So, take five minutes out of your day to switch to an ethical bank, and you’ll be making a positive impact that’ll last a lifetime. Here’s why:
Ethical Banks Don’t Support Nuclear Weapon Production
There are several obvious implications as to why one wouldn’t want to support nuclear weapon production—like the catastrophic results of one being used along with the global unrest that would result—but making weapons of mass destruction also turns out to be terrible for the environment. First, you’ve got radiation being released, and there are also plenty of other materials, such as cyanide and mercury, which will make their way into oceans, rivers and soil.
You can find out which banks are and aren’t funding nuclear weapons here.
Ethical Banks Don’t Support The Production Of Fossil Fuel
We all know fossil fuels are bad, they’re harmful to us and the environment before, during and after they’re burned. What might surprise you, though, is that various Australian financial institutes have collectively lent around $70 billion dollars to fossil fuel projects, and that’s just in the last decade. The good news is there are banks out there who haven’t contributed to that figure, and some are even contributing to a future where we rely on renewable energy instead; you can take a look at who is and who isn’t here.
Ethical Banks Are Proactive, Not Just Preventative
It’s being touted as the clean money revolution, and while diverting funds from banks who lend and support industries which have a negative effect on the environment, those institutions fighting the good fight aren’t just holding on to your cash in a state of neutrality, they’re proactively supporting projects and initiatives which have long-term social and environmental impact.
Some might place renewable energy as the most important issue to them, while others might see the importance—and need for more support—in the not-for-profit sector. Regardless, there are resources available which can help you find a bank that aligns closest to your values and interests.
Keen to learn more? Check out our beginners guide to clean money here.
Image credit: Jamie Brown