What’s Going On Here?
Extinction Rebellion have stepped up their “Money Rebellion” campaigns on banking and finance with their latest stunt. Seven members were arrested for smashing windows at the Barclays HQ in London, after plastering “In Case Of Climate Emergency Break Glass” on the front entrance.
What Does This Mean?
The protesters, wearing patches on their clothes that read “Better broken windows than broken promises”, were detained outside the Barclays building. The group of environmental activists smashed through the window to protest against its continued investments in fossil fuels and activities that contribute directly to climate change and ecological disaster.
Whilst COVID has dominated headlines over the past year, expect to see the ‘Climate Conversation’ flooding back into our lives.
Last week, XR activists sprayed the Bank of England with fake oil (a biodegradable black dye) aimed at highlighting those who are “recklessly endangering our future for profit” and the Bank of England’s failure to regulate the banks in question.
Why Should We Care?
“The world’s 60 largest banks have funded the fossil fuel industry to the tune of $3.8 trillion since 2016,” XR said.
The “Money Rebellion” protests are part of a wider attack on banks that have continued to fund fossil fuel companies since the Paris Climate Agreement in 2015.
If you keep your money in a bank or in investments, it ain’t just sitting there! Banks invest it in all sorts of funds and companies to try and make a return. So by just having a bank account, you can be indirectly funding the fossil fuel industry, and you may not even know it (well, you do now 😉 )
Ethical banks such as Triodos and Impact investing apps like Tickr are a simple first step towards ensuring your money isn’t furthering anti-climate goals.
Want to learn more about greening your finance?
Check out some of the awesome Green Finance articles on our website, including:
Put your money where your morals are with ESG investing
A guide to greening my finance and making money positively impact our planet