Ealing Friends of the Earth

Do you know how the bank uses your money?

Ethical banking

About three years ago, I was working in a company in London. One day, while I was having lunch in a communal area, I started chatting to one of my colleagues about climate change and the financial system. I was working in Finance at that time, without stopping to think about what the two big banks I was banking with were doing with my money. I felt ashamed, but I decided to do some research into this. The results shocked me. Here I was, someone who went to protests and thought that I was “doing things right”, but this whole time, my money was funding the exact things I was fighting against, extreme fossil fuels & nuclear weapons. After quite a bit of research, I found the right ones for me and made the switch.

I know it can be a bit of a hassle to switch banks, especially if you have a mortgage. But, if you want to do something about climate change and have no idea where to start, this is an important step that you can take to shift things for the better. An ethical bank or building society can use your money to support greener initiatives for individuals and communities across the UK. We are lucky. In the UK, there are quite a few options for ethical banks & building societies that you can choose. I’m not a financial adviser, so please talk to one if you can. Do your research and see what works for you.

Here is an article to get you started with your research. I hope you find the right bank for you that matches your needs and values.

https://www.ethicalconsumer.org/money-finance/shopping-guide/ethical-savings-accounts


Did you switch banks already? If you know of any other ethical banks, building societies that are not in the article, or any other articles about this subject, let us know in the comments below.

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