We’ve designed the year so that each month highlights a different sustainability focus, giving us four weeks to explore one simple habit and weave it into daily routines. Small actions, repeated consistently (that then become habits) can lead to meaningful change.
March. Ethical Money.
We’re matching our money with our values, and have shifted one of our accounts over to the Bendigo Bank. Did you know, shifting your money is one of the most powerful actions we can make as individuals. Thinking about shifting banks too? Do some research and look for ethical banks that prioritise ethical banking. Despite the urgent need to stop global warming, (and the havoc being wreaked on our land, water, air, health and communities), Australia’s big four banks continue to play a critical role in supporting the dirty fossil industry.
The ethical banking movement includes;
- ethical investment,
- impact investment,
- socially responsible investment,
- corporate social responsibility, and
- it is also related to fair trade, ethical consumerism, and social enterprises.
The big four banks are not ethical organisations. According to research by advocacy group Market Forces, Australia’s four major banks have loaned $35.5 billion to the fossil fuel industry since 2016.
There are ethical banking products that seek to avoid harm by not lending money to harmful activities and industries. This could include not investing in fossil fuels and other contentious areas such as tobacco, gambling and weapons.
Simon O’Connor | CEO | Responsible Investment Association Australasia (RIAA)
Ethical investments can shift whole industries towards sustainability. If ethical principles are important to you, it’s worth taking the time to research a bank’s investments and ethos to ensure you’re happy with how your money is being used. The Market Forces website can help you with your research.
If you only tackle one area of divestment, make it your super as it is often your largest pool of money beyond property, and often it’s channelled into fossil fuels. From my research, 4 good ethical super funds include; Australian Ethical Super, Hesta, Aware Super and Verve Super. But there are more. As always, do your homework.
We’d love this to be a shared journey. Tell us what you think, and how sustainable living looks in your world.
Writer: Colleen B. Filippa
With a background in Environmental Science, Colleen is the Founding Director of Fifteen Trees. In 2009, after 20 years in primary, secondary and tertiary education institutions, Colleen left the classroom to start the company. Fifteen Trees is a social enterprise assisting individuals and companies to reduce their carbon footprint by supporting community groups such as Landcare, schools and environmental networks.
