Banking on a greener future

Here's an idea for a little bit of 'green activism' which you might like to take up in 2024; move your money to a greener bank account!

Many of the popular banks in the UK have an appalling record for ploughing our money into fossil fuel investment. The worst offenders are familiar high street names; Barclays, Santander, HSBC, Natwest. They are often used by generations of the same family without question, and many of us have had money flowing in and out of their current accounts for decades.

So if you are concerned about climate issues, why not consider taking control of your money, and moving it to a more ethical bank. You can also contact your current bank via email, letter or customer services to tell them exactly why you have switched.

There isn't a huge range of ethical banks to choose from and some operate online only. However, the feel-good factor of knowing your money is going to invest in worthwhile causes as well as reducing fossil fuel emissions makes it well worth it. Have a look at these options;

• Triodos Bank refuses to invest in fossil fuels and offers complete transparency about all of its investments, so you can see the projects your money supports.

• The Charity Bank offers savings accounts for people and businesses who want to invest ethically. It supports charities by offering loans they couldn’t find anywhere else.

• Ecology Building Society was the UK’s first dedicated green mortgage provider and is primarily focussed on the environment and building a more sustainable future.

• The Co-operative Bank was considered an ethical bank until it was bought out by a group of US hedge funds, which don’t operate in the same way. This makes it a partially ethical bank, but still better than those listed in the first paragraph.

• Nationwide doesn’t invest in, or lend to, the fossil fuel industry and also has a branches as close as Lancing.

To find our more about broader green investment options for pensions, savings and investments you may be interested to read our Beginners Guide to Green Investment article at: https://greeningsteyning.org/green-investment/