Your money makes a huge difference. Here's 4 things you can do with it to heal the planet.
Let's talk about πΈresponsible money managementπΈ!
When I found out that my hard-earned money was being used to fight climate change, I was shocked. I'd never really thought about what happens to my paycheck once it hits the bank. Turns out, the biggest banks in the world are propping up β and expanding β the fossil fuel industry.
Soooo sustainable finance is September 2021's topic. Let's start with our READ module, which is a super thorough overview of the climate harms the financial industry is causing. It's a 2019 New Yorker article by Bill McKibben, the environmentalist who started 350.org.
π― Action step 1 of 4: READ β Let's start by looking at a few articles together.
Divesting from fossil fuels basically means pulling our money out of oil and gas. You can read the full article to learn more.
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Takeaways from the article "Money is the Oxygen on Which the Fire of Global Warming Burns":
We can't wake up tomorrow and stop using fossil fuels entirely, but we CAN wake up and divest!
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The New Yorker article covers banking, asset management, and insurance in depth, and shows how handling our money responsibly could be the fastest path to a cleaner and safer world.
π Checkpoint: This is the end of action step 1 of 4: READ.
π― Action step 2 of 4: LISTEN β we'll watch a short video or listen to a podcast to further expand on our topic.
It wasn't until last year that I gave a second thought to what happened to my money after I put it in the bank. So that's what we're visiting in this LISTEN module β we're going to walk through a one-minute overview on what banks do with your money followed by a two-minute clip on the biggest banking bad boys. (Spoiler: I have a credit card with one of these πΏ)
In our READ module last week, we talked about the importance of divesting etc etc etc, but I want us all to visually understand that it's OUR money β our hard-earned cash β financing climate change.
Today, we'll get a refresher on how this works through two very short videos (~1 min each).
Takeaways:
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Takeaways:
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There's a lot we can do β closing our accounts with these banks and opening climate-friendly ones, rolling over our retirement funds into clean energy funds, and more β next module, we'll take action.
You can learn more about your own bank in RAN's Banking on Climate Chaos report β it shows what nefarious lending banks from all over the world are up to.
π Checkpoint: This is the end of action step 2 of 4: LISTEN.
π― Action step 3 of 4: ACT β Now it's time to do something. Let's go!
Sustainable finance is one of the more optimistic topics under the umbrella of climate change, in my opinion, because there's a clear path to action.
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So, without further ado, here's four things you can do:
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The first two actions are short and sweet, and the last two will only be an hour-ish project, and these will go a LONG way. Let's invest in the future we want to live in.
π Checkpoint: This is the end of action step 3 of 4: ACT.
Before we go any further, it's time for you to pledge your commitment. It takes less than 30 seconds to pledge and we can bother you about it in a friendly way, so we can hold each other accountable. Pledge here!
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π― Action step 4 of 4: REFLECT β what can you commit to? What fresh perspectives can we look at?
This REFLECT is about banking disparities in Chicago, USA. It's just one of maaany examples of financial institutions actively working to exclude people. Another example worth noting is how women worldwide are excluded from financial systems.
Sustainable finance isn't just about emitting less CO2. It's about building an equitable world.
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It's important to highlight that banks do a lotttt of shady stuff with our hard-earned cash. In most countries including the USA, you need the bank to do anything, like buy a house.
According to this Home Mortgage Lending Inequalities article on banking disparities:
Discrimination in lending is structural, whether we're talking about gender, race, or anything else. But we can fix our financial systems! All injustices are interrelated, and we all have a role to play.
βπ Checkpoint: This is the end of action step 4 of 4: REFLECT.
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Check out our membership community for more resources like free weekly events with social justice experts, sustainable product discounts, pre-written email templates, a social impact job board, and in-person hangouts with new friends. Thanks for taking action with Soapbox Project!
Get our free bite-sized climate action plans before you go!