Go Green, Financially

Do you have savings? Investments? Super?

Do you know what your money is doing while it isn’t in your pocket? You might be disappointed – there is a good chance it is supporting coal.


I have been doing some research that I have been putting off for a while, finding out what my money has been doing without me. Turns out, nothing I would be proud of.

I bank with one of the 4 big banks because, when I was first travelling around Australia, they let me open an account with the address of a backpackers! Alarm bells should probably have sounded then, but I was just pleased to have a cash card.

Today, I expect a bit more from my bank. I have been delaying this task because I expected it to be depressing, challenging and time-consuming. Well more fool me, it has actually been relatively straightforward and immensely illuminating.


What did I find?

Most banks have an environmental policy that sounds good. Some of them have exciting-sounding carbon emission reduction targets. But many of them are still happily investing our money in coal, oil and a bunch of other unpleasant businesses. In one case, my money!

Any bank lording their carbon-neutral ‘targets’ deserves a serious eye roll from you. Any bank serious about being carbon neutral already is. Banks literally have enough money to go carbon-neutral now. Aiming for it by 2030, or worse 2050, is greenwashing – pretending to care when, really, they are putting it off as long as possible.


The good news?

I also found at least one bank who seem to be doing legitimately good things. Things that I am happy to put my money behind. A bank that I’ve now opened an account with.


Your turn…


Banking is such an important element of an eco-conscious lifestyle, so make it easy for yourself – lower the bar. Don’t make any decisions today. Don’t put yourself under pressure to change banks. Just get curious about what your money is up to without you.