Social · Environmental · Article

You Can Help to Defund Climate Change

Emily LevangEmily Levang
October 4, 2022
youB member since 2022
6 publications
Values this work is based on:
Purpose: Did you know that one of your super basic every-day relationships is likely funding climate change? We're talking about your bank.
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Did you know that one of your super basic every-day relationships is likely funding climate change? We\’re talking about your bank. Unless, of course, you already ditched big banks. (In that case, pat yourself on the back.) When you put your money in a big bank, they use it. For what? Fossil fuels, pipelines, general doom. According to the Rainforest Action Network,’s Banking on Climate Change report, the world’s biggest banks are directly funding the climate crisis. “Since 2016, 35 banks have poured $2.7 trillion into fossil fuels.” 

 

The good news is that it’s easy to change banks, and you can do it this month! 

Make a plan to switch banks: 

  1. Find out if your bank is funding the climate crisis.

  2. Research green banks. There are national options or you could go with a locally-owned community bank or credit union

  3. Once you’ve found one you’re happy with, open a new account. 

  4. Move your money, and close the old account. 

Already switched banks? Take it to the next level: 

  • Unfortunately, credit cards are part of the situation too. If you have debt with banks like Chase or Wells Fargo, consider a consolidation loan with a green bank to pay those off. The debt will still be there, but you won’t be paying monthly interest to the banks funding fossil fuels. And you may be able to get a much lower interest in the process. 
  • If you’re a business owner, make the change for your business account as well. If you’re an employee who has a say, or even just the ear of your employer, talk with them about the benefits of switching to a bank that promotes sustainability. 

 

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