This is How Your Bank Account Can Hurt The Environment

It may not be as intuitive as you think but your bank account can accelerate climate change as your bank account, pensions and even your investments could potentially be indirect sources of greenhouse gas emissions. The bank that you have chosen to manage your finances may be secretly financing the current climate crisis that we see today.

Since 2015, 35 of the world’s biggest banks have funded USD 2.7 trillion to fossil fuel companies, according to a report from The Rainforest Action Network and five other non-profit organizations. There are, however, several campaigns in place to pressurize these banks to reduce their fossil fuel investments. At the same time, banks are beginning to realize that their actions are secretly hurting their brand and are committed to reducing their carbon footprint. 

As for us consumers, it is imperative for us to understand the environmental and investment policies drawn out by the banks that we entrust. Our best course of action, in this case, is to send a strong message to banks that we are intolerant of such poor ethical performances from them and stay true to our commitment to protect our Earth.