Where you spend your money matters

Financial institutions provide the capital that funds over-exploitation of land and seas. In 2019, the world’s 50 biggest banks provided $2.6tn in loans and other credit to sectors with a high negative impact on biodiversity, such as forestry and agriculture.

Not just financial institution, the construction sector also uses considerable amounts of resources and material production and can heavily impact our climate and ecosystems. In addition, the heating and cooling of buildings is responsible for a large share of greenhouse gases (GHG) emission, contributing to the warming of our planet (1).

A UNESCO (2020) study found that investment in green solutions is essential in combating climate change and biodiversity loss (2). But what is ethical investment? And what can we as individuals do to fight back and save our planet?

The Anatomy of Action (AoA) is a 15-day social media challenge that strives to make sustainable living the dominant global norm. Based on scientific evidence, it separates lifestyles into 5 areas of action: food, stuff, move, money and fun.

The AoA challenge introduces one action every day, in this case #money - detailing three of the highest impact actions that we can all adopt for a more sustainable world.

#EthicalInvesting

Use your principles to guide investing and consider socially and environmentally responsible options

Everything we buy has an impact on people and the planet.

Ultimately, we have the power to choose what our money supports (and what not to support). This goes for goods and services AND investments in stocks and bonds. Therefore, it is integral to choose to spend our money on sustainable and ethical banks, institutions and companies that have positive impacts.

#Divestment

Actively swap your financial institutions or services to more sustainable options

Divestment is when people move away from industries that are unsustainable and instead choose investments, banks, energy providers, and other companies that are opting for sustainable options.

As more and more people move away from unsustainable institutions, it sends a message to companies to consider their business models and actions to support renewable energy, sustainable technologies, and more responsible products. Therefore, from your retirement fund to your banks, it is crucial to acknowledge what you are supporting inadvertently.

#EnergyPositiveHomes

Enhance your comfort, save energy and money by adapting your home and your habits to be more efficient

Sustainable appliances at home, and behaviors such as opting for renewable energy, and even insulating our home against weather changes can dramatically reduce emissions and promote climate change mitigation.

Energy efficiency and renewables can save money, generate utility savings over time, and increase the value of property. Making our home more sustainable can also help support the local economy and can increase the level of comfort by enhancing the quality of our lives.  

Join the Anatomy of Action social media challenge today starting with MONEY

Find out more and join the global challenge here. 

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References

[1] Business and biodiversity resource center (UK) – Construction

[2]  UNESCO – “World in 2030” public survey, 2020