Marketforces.org.au and 350.org websites recently enlightened me to the fact that my bank was investing heavily in fossil fuel projects on the Australian east coast.

I realised that my own money was funding various projects which I do not approve of, including dredging of the Great Barrier Reef, and extracting huge amounts of fossil fuels for export.

An interesting question is ‘WHAT DOES YOUR BANK DO WITH YOUR MONEY?’

“Between 2008 and 2013, ANZ, Commonwealth, NAB and Westpac have loaned almost $20 billion to fossil fuel projects in Australia.

The coal and gas boom is threatening our farms, water resources, health, the environment and natural icons such as the Great Barrier Reef. It is also jeopardising our chances of keeping global warming to within manageable limits”. (Market Forces Website 2014)

Changing banks is not neccessarily too time consuming, and serves a few purposes:

1. It removes investment capital from projects which you object to

2. If you write to your bank and notify them of your rationale for leaving, it creates an incentive for the bank to change investment patterns

3. Ideally, your money is moved to a bank which will invest in projects which you support

• Market Forces
• 350.org