#05 - Business, Banks & Hot Money
???Getting to the Bottom of…
Sustainable Business Banking
While the links between your personal finances and the climate emergency aren’t always clear, where you put your money could possibly be having a huge impact on the environment. 8 out of 10 banking customers don’t know that their bank invests in fossil fuels. The banking system is one that is hard to navigate and is made especially more difficult due to the complexity of banking products and their business models.
Fortunately, companies such as Bank.Green are providing valuable insight into those banks actively putting their customers and the planet before profit, as well as implementing sustainable investment strategies to curb climate change. The consequences of your banking choice can surpass those of other climate measures you may adopt. Therefore, it's vital to ensure this aspect doesn't undermine your comprehensive endeavours to foster a more sustainable planet for future generations. Bank.Green has served as a tool of transparency, highlighting those institutions that are on the right track to creating a more sustainable future for us all.
One of those they recommend is Triodos Bank.
Triodos has provided over ￡9.4bn in loans to European projects to benefit both people and the planet. Their banking and financial services are geared towards those changemakers. Serving over 740k customers, they’re quickly becoming a leader in the Green Banking space. Even their debit card is made from renewable resources (plant leaves and corn)!
Their financing focuses on:
Winner of the Best Ethical Financial Provider in 2023, it is clear Triodos are setting the path for consumers and businesses to make greener decisions when it comes to banking. Equally, we need to ensure companies are aware of the financial decisions they can make internally and how those decisions may have underlying climate externalities.
Over the last few years, a number of educational courses have become available for individuals on sustainable green finance, and one of our founders Rob Smallcombe took the Chartered Banker Certificate in Green and Sustainable Finance last year.
‘The green transition requires c. $6 trillion of investment annually to met our climate objectives over the remainder of the decade. As such, learning about our financial system and how capital can be effectively deployed is a critical step for anyone seeking to understand the complexities of the climate crisis.’ Rob Smallcombe on the CBI Certification.
To confront this challenge of global warming effectively, it's essential for each finance professional to enhance their knowledge and insight in the field of environmentally-conscious and sustainable finance.
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This global, benchmark qualification will help individuals to develop their knowledge, understanding and ability to apply the key principles and core practice of green and sustainable finance.
In conclusion, tackling the climate crisis necessitates a collective effort, one that involves a shift in both institutional practices and individual actions. Embracing sustainable banking and green finance, we can propel this transformative journey, securing a cleaner and more sustainable future for all. It is imperative to remember that our money speaks to our values and has the power to catalyse the change we want for the world. The path to a greener planet may at times feel like a labyrinth, but with each informed decision, we draw one step closer.
???Climate Off-the-clock
Hot Money
Hosted by decorated US Army Officer Wesley Clark and his son Wesley Clark Jr., this documentary delves into how deeply connected the economy and the environment are. The father and son duo also have a very interesting dynamic as they seek to make the world a better place in different ways. Their interactions offer some funny and personable moments throughout the documentary that are appreciated. The second half of the documentary also focuses primarily on solutions, which helps bring a more positive tone to what could’ve been a very doom-and-gloom piece. Especially relevant to those looking to understand more about the financial system across the pond, as it is able to aptly dissect the system and foreign concepts through the New Yorker cartoons, making these sometimes inaccessible topics approachable.
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Triple Bottom Line is a fortnightly newsletter curated by?Sebastian Wong. For any enquiries or for further information please contact:
[email protected]?| Sebastian Wong