The Palisadian-Post has partnered with locally founded environmental organization Resilient Palisades to deliver a weekly “green tip” to our readers. This week’s tip was written by Kaya Foster, who co-leads Resilient Palisades’ Green Banking team.
You probably know that burning fossil fuels (coal, oil, natural gas) significantly contributes to climate change and pollution. However, you may not know that while you strive to make greener choices in your day-to-day life, your bank is probably using your hard-earned money to fund fossil fuel projects.
Across our biggest banks, it’s trillions of dollars. In fact, if U.S. financial institutions were a nation, that nation would be the fifth largest emitter on earth, according to a 2021 report by Center for American Progress.
Is it possible for your money to reflect your climate values? The answer is most definitely yes. And you can start by asking these questions:
Are there green financial institutions that can meet your banking needs?
How do you know if a bank is just “greenwashing?”
Is it difficult to switch?
Here are four steps you may want to take:
- Sign the “Banking on our Future” pledge. Tell the four most prominent financiers of fossil fuels that you’re fed up with their actions at thirdact.org/act/bank-on-our-future-pledge.
- Learn more about your current bank. Go to resilientpalisades.org/green-banking and take the Banking Climate Impact Snapshot. This two-minute quiz will show you what your current bank is funding and how it compares to other financial institutions.
- Explore climate-safe alternatives. Visit bankforgood.org/search to search through a vetted list of climate-safe banks and credit unions (no greenwashing allowed). All financial institutions on the website are also FDIC insured.
- Join our demonstration in Beverly Hills on March 21. Will changing your bank make a difference? The answer is yes because you’re not alone. Thousands of Americans have pledged to switch banks.
We’ll make our voices heard in the streets on March 21 for the national Stop Dirty Banks Day of Action. Together, we’ll bring national attention to this issue and pressure financial institutions to change their ways. Sign up at mobilize.us/thirdact/event/549636.
There has never been an easier or more important time to switch. Visit Resilient Palisades to learn more about our support groups and/or RSVP for the Banking Day of Action on March 21: resilient palisades.org/green-banking.
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