You can make a difference with what banks, insurance, and investments you use. Take a stand against fossil fuels and for the public good. Plus in many cases you get better customer support, better investment returns, and more!
Banks: The Good and the Bad
Where you bank is important: Your money can make a 10X impact when it's in a bank (the bank uses it to finance other projects). That's 10X for or against the climate crisis.
Banks to Avoid
Where you bank is important: Your money can make a 10X impact when it's in a bank (the bank uses it to finance other projects). That's 10X for or against the climate crisis. Check out Rainforest Action Network's analysis of the worst banks.
Four Banks to Explore
Finding a Better Bank
Read this article on how to bank sustainably. Then try out one of these tools to search for a bank
Coalition of value aligned banking organizations and better banking search tool
Search tool for finding local banks which provides ranking and characteristics for evaluating banks
Mighty is a comparison site to help you find banks and credit unions that are good for you and the issues you care about – like not funding fossil fuels.
Switching Banks
The Consumer Financial Protection Bureau has a great guide for how to switch banks.
Switching? Let your OLD Bank know why! Send a note to your bank's CEO.
Insurance
Insurance companies lend money for fossil fuels, like coal. If Coal can’t get insurance it can’t continue to operate. Coal kills more than any other fuel today and it’s the worst for greenhouse gases too.
Insurers to Avoid
Most US insurers are not doing enough to get out of Coal. The following have over $2 billion in coal, take in over $1 billion from California sources (2017 numbers) , and haven’t made a noticeable shift since 2017.
Driving Change! These companies have made varying commitments to change.
- Chubb Environmental policy – was first large US insurer to make a rated policy
- Axis Capital – Top rated out of the big insurers on action in the US – RAN Post
Instead Consider a B-Corp
B Corps (Public Benefit Corporations) are legally required to consider their environmental impact.
Instant everything. Great prices. Big heart. App driven insurance.
Home and Renters
Protect You. Protect Them (Kids).
Northern California locations.
Chubb Broker
Research More Insurance Options
Big insurers are listed on Unfriendcoal.com’s 2019 Scorecard. California Insurers Fossil Fuel disclosure (2017 data) provides data on many more insurers.
Switching? Let your OLD Insurance company know why! Find some templates here.
Investments
Investments to Avoid
There are way too many bad investments to list. Index funds give you about a 10% investment in fossil fuels. Many so called “Ethical” or environmental funds do not have good policies – check what is actually being invested in!
Tools to Find Ethical Investments
These are some tools to help you find new funds or companies that are are fossil free – or committed to become so.
Find Fossil Free Funds and see how much of your current funds include fossil fuels.
Find 850 companies that are engaging with the science target process and 350 that have set explicit science based targets for themselves.
Note: This means companies can currently have fossil fuels as part of their business. It also just rates them on Climate Science not any other impacts.
Maintains the Heart Rating which gives a full picture of the Environmental and Social impacts of funds.
Also an B Corp Investment advisor – but has a high minimum.