How to move your money away from fossil fuels
And have your voice heard!
Millions of us are so appalled that our banks are fuelling the climate crisis that we are shifting our money away from the worst offenders.
Banks are the hidden villains of the climate crisis, providing the money that keeps the polluting fossil fuel industry going. Some of the world’s most famous banks – including Barclays and HSBC – have provided US$2.7 trillion in finance for fossil fuels 2015, the year the Paris climate agreement was signed. Banks aren’t acting fast enough to stop this funding, so we must act instead.
But how do you actually move your money? It’s quicker and easier than you think. Most banks will redirect payments and direct debits in and out of your account, doing the hard work for you. You can have a fossil-free bank account in minutes. We can’t provide personalised financial advice, but this page can show you how to switch banks.
Banks really care about their public image. They won’t take the climate crisis seriously until it starts to impact their reputation. Moving your money away from fossil fuel-funding banks – and telling them why you’re doing it – is an incredibly powerful action.
Here’s how to do it:
1. Use SwitchIt to find out if your bank is still investing in fossil fuels
SwitchIt also recommends banks that don’t invest in fossil fuels (such as Nationwide, The Co-Operative Bank and Triodos), and walk you through the process of changing bank. Contact a bank that you like the sound of to make sure the products, services and terms they offer are right for you.
2. Tell your bank why you’re leaving.
Closing your account will only have an impact if you let your old bank know why you’re taking your business elsewhere. They might ask for feedback or, if not, drop their customer service department a line to explain you don’t want to be associated with a bank that backs fossil fuels. Suggest if they want to stop losing business, they should stop funding fossil fuels.
3. Share your decision on social media and tag your old bank in it.
Tell everyone why you’ve made the move and how easy it was to do. Your personal experience can help inspire other people to switch banks as well. If you want help switching banks and making it as impactful as possible, send us an email at firstname.lastname@example.org and we’ll help you maximise your impact.
4. Join the movement.
We are stronger together. Market Forces is working with bank customers all over the UK to use their money as a force for good. To stay informed and learn what more you can do to ensure your money is not funding environmental destruction, sign up to receive campaign updates from Market Forces using the form below.
DISCLAIMER: This is a campaign website and its contents should be viewed as information and ideas, not as professional financial advice. It should not be used, relied upon, or treated as a substitute for specific professional advice. Market Forces recommends that if you are unsure about whether a product is right for you, please contact an independent financial adviser.