Current events have me thinking back to my time as an undergraduate student and being a part of the divest from South Africa movement. I learned well at that time that money talks the loudest, and the scale of the divestment movement against apartheid in South Africa was brilliant: entertainers and athletes refusing to play there, college students convincing their institutions to divest, individuals and families choosing not to buy products exported from South Africa. And ultimately, it led to the toppling of the apartheid regime. I wish we could mobilize on this scale right now.
Over the years, my own children have rolled their eyes at me when I have refused to order from the local sandwich shop chain or the take-and-bake pizza chain because the ways that those companies moved did not align with my values. It has been a small and imperfect way of using my wallet to vote. I smile now when I hear news about how a big chain coffee shop and global fast food chain are being impacted by current grass roots boycotts.
As climate justice activists, we may be working within the complexities and realities of spending green (shoot, I still sometimes order from Amazon – none of us are perfect), and then I recently saw this graph:
It gave me pause.
Of course, I always knew that the money I deposit into my – or our organization’s – bank account doesn’t just sit there. Banking institutions use our money for investments and loans to other companies, including fossil fuel companies.
Now I understand that one of the levers we can pull to combat climate change is to take our money out of banks that invest in fossil fuels. Because as long as people profit from this industry we will never phase it out. So, I am looking at resources like Bank.Green and Bank for Good to find banking opportunities free of fossil fuel investments. This research is just one step I take to untangling myself from the fossil fuel industry. One step at a time toward the just transition.
Where do you bank? Better yet, where does your bank invest your dollars?
Susan Phillips
Executive Director
