January 4, 2023
As the saying goes, “Money makes the world go ‘round.” And if you’re looking for a simple New Year’s resolution with outsized impact – take a look at your money.
Even if you can’t afford an EV or don’t want to put solar panels on your roof, switching your
bank is something anyone can do. Where we bank and invest our money matters – and there
are a growing number of options that offer “climate positive” banking.
For example, Atmos Bank offers checking and savings accounts (and now, solar loans) with
100% of your money funding clean energy, electrification, and other climate-positive products.
In addition to mobile banking, free ATM withdrawals, a good savings rate, and up to 5% cash
back when you buy from climate-friendly companies, you get an impact report – $5,000 will save 5.85 tons of CO2 a year, the equivalent of not driving 13,169 miles.
Local credit unions are also a great option, in addition to more than 30 banks featured by “Bank For Good,” and Carbon Collective for your 401K. But if you bank with one of the big banks, your money is funding the fossil fuel industry. The biggest 60 banks in the world have invested $4.6 trillion in the fossil fuel industry since 2015. As climate activist Bill McKibben says, for any American with more than $125,000 in the mainstream banking system, it’s likely producing more carbon in a year than all the actions of their daily life.
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By Anna Robertson, The Cool Down