Ordinary investors can see which banks have green roots

oecd members at a panel

The OECD makes important policy recommendations. Credit: OECD flickr

ORDINARY investors can see which banks have green roots and which are continuing to invest in environmentally unfriendly operations.

There is a fine line to follow when one considers that regardless of long-term plans for the future, there is still a current need for companies to produce petrol and diesel for vehicles and heating as well as for those who still wish to fly.

Some of us don’t really care about the affect on the environment whilst others want to take a stand and try to support green initiatives wherever possible and a new website MotherTree has just created a ranking of Britain’s banks and their green credentials.

It might seem strange to accuse a bank of being a creator of CO2 but it’s all to do with where they invest or lend the money that they look after for their customers and it turns out that according to MotherTree, Barclays Bank creates the equivalent of 0.29 tonnes of carbon a year for every £1,000 in a current account with them.

To put this into context, flying from the UK to Rome and back seven times produces less CO2 and is also the equivalent of the emissions caused if you ate a cheeseburger every day for a year.

Most of the big banks fare badly and in fairness, the free service does presumably receive some form of financial advantage when it highlights green investments, which it says can offer better interest rates than the ‘big four’.

It should also be noted that MotherTree makes it clear on its website that it does not offer financial advice but simply points out options that exist.

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