Day 16: Switch to a carbon-neutral bank account

Have you ever wondered if your money is being used to finance fossil fuels? You might be worsening global warming without realizing. Here’s how to find out…

Are you unintentionally funding fossil fuels?

If you’re lucky enough to have money in a bank account or any other savings or investments you need to check whether your money is being invested in fossil fuels. If you don’t know, it probably is. Open a fossil-fuel-free bank account and transfer your money to your new account so you’re no longer investing in fossil fuels.

The top 60 banks in the world have contributed a massive $3.8tn to finance fossil fuel companies since 2015, directly contradicting their commitments to hit net-zero by 2050.

Which UK banks are carbon neutral?

Currently the only British bank accountd I know of that are carbon neutral are Co-operative Bank and Santander.

The Co-operative Bank has been carbon neutral since 2007. They achieved this status by reducing their energy consumption, using renewable energy, and purchasing carbon offsets.

Santander UK has committed to being carbon neutral in its operations by 2020 and has maintained this status since then. They have achieved this goal by reducing their energy consumption, using renewable energy, and purchasing carbon offsets.

Online banks

Some online only bank accounts like Triodos and Monzo have much lower carbon footprints than the bad banks below.

The bad banks

Other banks are not doing as well:

  1. NatWest Group (including NatWest and Royal Bank of Scotland): NatWest Group has committed to becoming a net-zero carbon emitter by 2025. This includes both its operations and supply chain. They have specific plans to reduce emissions and invest in renewable energy.
  2. HSBC: HSBC has pledged to achieve net-zero carbon emissions in its own operations by 2030. This includes reducing carbon emissions from its offices and branches, business travel, and procurement.
  3. Lloyds Banking Group (including Lloyds Bank, Bank of Scotland, and Halifax): Lloyds Banking Group aims to achieve net-zero operational carbon emissions by 2030. They are focusing on reducing energy consumption in their buildings, using renewable energy, and investing in energy efficiency projects.
  4. Barclays: Barclays has set a target to achieve net-zero operational carbon emissions by 2030. This includes reducing carbon emissions from its buildings, branches, and data centers. They are also investing in renewable energy sources.

Imagine...

Imagine if 1 million people completed 100 Days to Save the World.

We would change the world.

It's possible.

Imagine how the world could be.

It's up to us to change it. Not someone else.

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