Money Rebellion

Put your money where your heart is.

When your money is held by a bank, the bank uses it to generate more money for itself by loans and investment in business elsewhere. Most banks finance activity which is highly damaging to the climate and ecology.

Money talks. You can help influence what business activity is supported by putting your money – and loans and pensions – in the hands of banks or building societies with positive, healthy, humane and forward-thinking investment practices.

The information source below is from EthicalConsumer.org. Please go to this site to see how it evaluates banks’ performance. 

Banks to avoid

Barclays is the biggest banker of fossil fuels in Europe, followed by HSBC.

Both banks have also been linked to deforestation and multiple human rights abuses.

Barclays
HSBC
M&S Money (50% HSBC)

First Direct (HSBC)

Other banking financiers of fossil fuels and with other environmentally and socially damaging activities:

Citigroup

Lloyds  – banking group includes Halifax and Bank of Scotland

NatWest – banking group includes RBS, Coutts

Santander  – group includes Carter Allen

Tesco Bank is the poorest performer in Ethical Consumer banking evaluation for a range of criteria.

Recommended

Best bank

Triodos Bank – easily the best performer, this  Dutch bank which only invests only in sustainable and beneficial enterprise such as renewable energy and not in fossil fuels. Provides all usual banking services without local branches. Triodos has a small monthly charge for current accounts.

Also recommended:

Nationwide Building Society – still has a national branch network

Cumberland  Building Society – also provides business accounts

Monzo Bank Limited – for business accounts

Starling Bank Limited – for business accounts

Unity Trust Bank – for business accounts

Co-operative Bank (including Smile brand) accounts has positive position statements and maintains an ethical stance across a number of issues.

Check your Bank, Energy provider and Pension provider

This organisation makes it easy to look at the eco credentials of banks, energy providers and pension providers and to research alternative providers/switch based on their performance:

https://www.switchit.money/

Ethical Consumer is one of their supporters.

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