Monday, January 31, 2011

Choose your bank wisely

Murzuk erg (sand desert), Libya
Photo by Philippe Bouseiller
"Financial institutions use your money to make investments; and many major banks grant huge loans to enterprises such as fossil fuel plants and unsustainable forestry. You often have very little control over which businesses receive your bank's money, but some banks have ethical policies or accounts, or offer special credit cards that send a portion of the fees you pay to finance charities. Some community investment banks are some of the greenest banks around and many offer credit cards to nonmembers who funnel up to 50% of funds directly into environmental stewardship in a particular region of the country or into small business loans for low-income and underserved customers.

"Research your bank's investment and lending policies, and it commitment to reducing its own carbon footprint - and if it is not good enough, switch to an ethical or cooperative bank."
- From the book '365 Ways to save the Earth', by Philippe Bourseiller

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