Jammica Boone is a writer and content creator for EnviroPerks
Back in October of 2020, we shared a little bit about green banking in our article Stuff Your Wallet with Green. Green Banks are banking institutions that operate like regular banks and provide the same services but they focus their energies so to speak, on investing in things like clean energy, eco-friendly projects, and sustainable technology. They also practice implementing socially responsible practices in the workplace and in business. Something like a B Corp but with banks instead. More importantly, they divest from fossil fuel and other projects that have a negative impact on the environment.
Well…divesting, when it comes to green banking, is like singing “we’re not going to take it” with your money. It’s when banks, or you for that matter, decide to put your finances to work and invest them elsewhere. In the case of green banking, investing them in projects you believe in like solar power for an entire city or offering small, affordable business loans to artisans who produce sustainable goods and services.
Most of us Perksters do all we can to do our part in being good stewards of the earth. We take public transportation during vacations, we reuse items when applicable, we purchase fair trade sustainable products, we even blog while exercising. But here’s the kicker: we have no idea that our banks are not. While we’re writing to our congressmen and women and protesting plastic bags, our banks are investing in the very projects and industries we’re trying to help change. And as long as we keep doing business with them, our green money will be countering our green efforts.
As we speak, there are bills being submitted across the country to stop green banking institutions from divesting in fossil fuels. According to The West Virginia Legislature Blog, Senate Bill 262 was passed. Writer Christopher Marshall stated, this Bill “…would authorize the State Treasurer to block banks with policies against investments in fossil fuel industries like coal and natural gas…”
But don’t get discouraged. There are some simple solutions we can implement now to push the movement forward and save green while saving our planet.
It may seem a bit overwhelming but remember going green is all about starting where you are. That’s why we love sharing these Green Banking Goals with you. Here are a few things you can do now to “divest” and be your green best.
Going paperless is the 1st and easiest step in starting your green banking journey. If you already do this, kudos! Have your bank statements sent via email or access them online. Refrain from writing checks & use online banking services instead to send funds. Going paperless is a power move for the environment. It saves loads of paper, which saves trees, which are the lungs of the Earth. And it saves you money too because most banks now charge for mailing paper statements.
No need to drive to your bank. Bank from home! This helps cut down on carbon emissions. Most banks offer every service online that you can get inside the bank. They even offer virtual assistants that can answer your questions right there on the spot.
When it comes to your finances you always want to make sure you’re making the right choice for you and your family. So, though you may not be ready to move all your financial business to a green bank just yet, you can start with just a savings account. You can also automate the process by allocating a little money into the account at a time. This will give you an opportunity to get to know your new green bank without having a major commitment just yet. Banks like Aspiration are a great start. They’ll even plant a tree every time you use your card.
Invest like a green boss. Impact Investing is a great way to get started on the financial green track. Investing with companies like Earthfolio, Wunder Capital, and Virginia Community Capital that promote sustainable business practices and viable change socially and environmentally while creating a healthy financial return is the ultimate win for you and the planet. This gives you an opportunity to get in the game in the right way and get a leg up while giving a handout to people and businesses that really need it and are making environmental changes to better our future on this planet.
There are many ways to save green and save the planet. And EnviroPerksters, you can save every day just by logging in to your EnviroPerks account and using your rewards on great gifts and local businesses in your area. Shopping local means a lower carbon footprint and more circulation of your green in your neighborhoods, which can support local green initiatives.
We hope you’ve enjoyed what we’ve shared here and remember just take one step at a time and you’ll have changed into a “greenie” in no time. [/vc_column_text][/vc_column][/vc_row]