So you’ve cut out red meat (or at least reduced your intake), you stopped buying from unsustainable brands and you’ve swapped the plane for the train and the car for the bike. But have you thought about your money?
When it comes to living a sustainable and eco-friendly lifestyle, we often overlook our banking and finances. Going green doesn’t only mean reducing your carbon footprint. It also means making environmentally friendly choices with your finances. So how can you go green with your finances?
What is ethical banking?
When it comes to ethical banking, there are a few key things to keep in mind. First and foremost, ethical banks will avoid investing in companies or industries that are harmful to the environment or that have poor human rights records.
Additionally, ethical banks will often offer products and services that are beneficial to society, such as microloans and green investment products.
These banks will be transparent with their customers, providing clear information on where their money is going and how it is being used.
By following these guidelines, ethical banks can help make a positive difference in the world while still providing excellent customer service and returns.
How do you choose an ethical (or green-approved) bank?
When it comes to choosing an ethical bank, there are many factors to consider. But if you’re looking to support a more sustainable future, you may be wondering how to choose a green-approved bank. Here are a few key considerations:
Where is the bank located? If it’s in a state or country that has strong environmental regulations, that’s a good sign.
What is the bank’s track record when it comes to environmental issues? Have they been supportive of sustainability initiatives in the past? Are they currently funding any green projects?
What kind of practices does the bank have in place to reduce its environmental impact? For example, do they use online banking instead of paper statements? Do they have recycling programs for used electronics?
What are the bank’s priorities when it comes to lending and investment? If their focus is on renewable energy or other green projects, that’s a good sign. However, if they’re investing in companies with a history of environmental damage, that’s something to consider.
By considering these factors, you can choose a bank that aligns with your values and helps support a more sustainable future.
Check Out Your Bank’s Fossil Fuel Investment
Most people don’t think about where their bank’s money goes after they deposit it – but maybe they should. A recent study found that the top 20 global banks have poured $1.9 trillion into fossil fuel companies since the Paris Agreement was signed in 2016.
That’s more than three times the amount of money that has been invested in renewable energy over the same period.
This is a problem for a few reasons. First, it means that our money is being used to finance climate change – the very thing we’re trying to prevent.
Second, it puts our money at risk in the event of a “carbon bubble” – when fossil fuel assets are overvalued and then suddenly lose value as the world moves away from fossil fuels.
And third, it gives banks a financial incentive to block climate action since they stand to lose a lot of money if we transition to a low-carbon economy.
So what can we do about it? The first step is to find out if your bank is invested in fossil fuels. You can usually find this information on the bank’s website or by asking customer service.
Once you know where your bank stands, you can make a conscious decision about whether or not you want to keep your money there.
If you’re not happy with your bank’s position on climate change, consider moving your money to a more environmentally-friendly institution. Together, we can use our money to support a clean energy future and put an end to fossil fuel investments.
Here are a few other eco-friendly finance tips to help you go green with your money and your bank.
Invest In Solar Energy
These days, more and more people are looking for ways to invest in green property. While there are many different ways to do this, one of the most popular options is to invest in a solar farm. Solar farms are large tracts of land that are used to grow and harvest solar panels.
In addition to being environmentally friendly, solar farms can also provide a significant return on investment.
The cost of setting up a solar farm is relatively low, and the ongoing maintenance costs are also very reasonable.
Moreover, solar farms can be leased out to utilities or other companies, providing a steady stream of income. For all of these reasons, investing in a solar farm is an excellent way to go green and earn a healthy return on investment.
Invest In Green Property
Investing in green buildings can help you save money on your energy bill and make your property more valuable.
It adds value to a community by providing attractive, environmentally-friendly places to live, work, and play There are a number of benefits to investing in green property:
- Green buildings are designed to be more energy efficient than traditional structures.
- They often use recycled materials
- These buildings also often incorporate features like solar panels and rainwater harvesting systems.
By choosing an ethical bank, you can feel good about where your money is going and how it’s being used. You don’t have to sacrifice your finances for the sake of the planet, either; many ethical banks offer competitive interest rates and other benefits.
And if you want to do even more good with your dollars, consider looking into green-approved banks. These institutions use renewable energy sources and invest in sustainable projects, so they align perfectly with eco-conscious consumers. There is no excuse not to go green and save money.