Divest

When many people are informed, as to the egregious and irresponsible energy policies of the Abbott Government, the response is often one of resignation, "but what can we do?"

Well, there's a very simple and effective thing we can all do.

As we reported a few months ago, in a presentation at Rahamim, Thea Ormerod, president of the Australian Religious Response to Climate Change, suggested, quite simply, to shift our investments out of financial institutions that are actively investing in fossil fuel industries (CSG, coal etc).

As Thea explained, "voting with our feet" when we change our banking provider sends a significant message to the banks. She believes that, while recycling is beneficial to the environment, ethical investments (changing banks, super funds) is more effective in accelerating change toward a clean-energy future.

"Investing in an ethically managed fund or super fund is one of the biggest, yet easiest, things someone can do to make a real difference on a range of environmental and social issues."   [Source: http://www.arrcc.org.au/invest-ethically]

Recently, as reported in the Australian Financial Review (and on the Bendigo Bank website):

"Bendigo and Adelaide Bank has become the first major bank to publicly oppose investing in coal and gas projects, joining a number of big super funds making similar moves."

Choice's current list of "Banks that don't lend to coal and gas"

While the big four banks are all involved in lending money to fossil fuel businesses, the following financial institutions are some that claim to have steered clear of fossil fuel financing. Check the Market Forces website for a more complete breakdown.

  • Bankmecu
  • Defence Bank
  • Bendigo Bank - local branch: Orange
    138 - 140 Summer Street
    Orange NSW 2800

    Ph: (02) 6360 0988

  • Members Equity Bank
  • Beyond Bank
  • People's Choice Credit Union

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