Simple steps you can take to help your money do good, according to your guide to going net zero with your money.
It’s past time for us to consider what part we can play in the country’s ability to achieve net zero emissions.
Today is finance day for world leaders attending COP26 in Glasgow, and all eyes will be on how governments, central banks, and private capital can work together internationally to get funding where it’s needed to help reduce the amount of greenhouse gases we emit.
While COP delegates debate the role of carbon trading markets and foreign climate aid, those of us sitting in our armchairs with a cup of coffee might be wondering how our own money affects climate change.
Surely an innocuous current account with a local high street bank isn’t contributing to the deforestation of the rainforest, and saving responsibly for a workplace pension isn’t incentivizing big oil companies to seek out new oilfields beneath the sea to drill?
Worryingly, they can.
Most people are surprised to learn that their retirement savings are going to big tobacco companies, weapons sales, and allowing energy companies to extract even more fossil fuels.
Most of the big banks are involved in some way with these industries, providing debt financing and/or capital investment into projects you may not feel particularly enthusiastic about supporting, even if it’s only £2,000 in your bank account.
Knowing how to make a difference is more difficult than it appears, which is why the green money website Good With Money conducted extensive research among experts to produce a comprehensive guide to going net zero with your personal finances.
“According to government figures released in March 2021, our UK emissions in 2020 were nearly 50% lower than 1990 levels,” Lisa Stanley, co-founder of Good With Money, tells i.
“However, the impact of the Covid-19 pandemic on travel and business activity can be attributed to a significant portion of this reduction.”
With those figures clearly demonstrating the impact of lifestyle changes on the country’s ability to achieve net zero, now is the time for each of us to consider what part we can play in making it happen.”
According to the Committee on Climate Change, 60%.
News summary from Infosurhoy in the United Kingdom.
Simple steps you can take to help your money do good: Your guide to going net zero with your money
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Your guide to going net zero with your money: Simple steps you can take to help your money do good