• Business Business

Woman calls for others to break up with major banks for their dirty investing: 'I had never thought about this'

"I'm never switching back."

"I'm never switching back."

Photo Credit: TikTok

Addressing environmental issues can seem daunting, but there are a lot of small steps individuals can take to make a big impact on a cleaner future. This TikToker says one of the most helpful things you can do is take your money and leave your big bank.

Sustainability expert ReLauren (@relauren) blasts big banks and their investments in dirty energy in this TikTok video. 

@relauren Replying to @cece🌀 It's time to break up with your dirty bank 💔 One of the most impactful things we can do as individuals is divest our money from the big banks that are funding the fossil fuel companies responsible for the climate crisis. Thankfully, Bank for Good makes it easy with their online interactive directory of clean banks that can meet your banking needs. I know sometimes personal admin work like this can feel daunting, but I promise this process will be so rewarding knowing that your money isn't funding these corrupt oil & gas companies, no matter how much is in your account #bankforgood #divest #banking #climate #sustainability ♬ original sound - ReLauren

She says, "The four big banks — Chase, Bank of America, Wells Fargo, and Citi Bank — invested $146 billion in fossil fuels just last year." 

Bank for Good has backed that up, with a recent evaluation putting the total over the last eight years at nearly $7 trillion.

She advises that it doesn't matter if you don't have a lot of money — it's the action of switching to a greener bank that makes a difference. The Cool Down has previously covered more on how to do that. 

"We're collectively sending a message that we don't want our money invested in these dirty, polluting, damaging projects," she says.

Fossil fuels are a dirty energy source, harmful to our health and our planet. According to the NRDC, fossil fuels are still used for about 80% of our energy needs. This usage over the years has resulted in air and water pollution and other detrimental effects on the environment. Despite this knowledge, big banks are still using your money to invest in the continued use of dirty energy. 

Taking small actions like switching to greener appliances, consuming less, and recycling are all powerful moves. You can make an even bigger impact by also divesting your money from big banks and switching to a bank that doesn't contribute to our planet's overheating.

Banks and other organizations aren't always forthcoming with how they use your money. It's helpful to educate yourself about this and other issues like greenwashing.

ReLauren suggests going to BankForGood.org to fill out a questionnaire and get recommendations for options that suit your needs and break up with your big bank.

Commenters were excited to learn this new idea. 

One TikToker said, "I had never thought about this but omg life changing."

Another added, "I've been using Aspiration for a few years — I recommend it to everyone, and I'm never switching back."

Join our free newsletter for cool news and actionable info that makes it easy to help yourself while helping the planet.

Cool Divider