Money and its impact on Climate Change
How money is invested has a fundamental impact on your indirect carbon footprint. There are several ways in which your money is invested in the wider system these include: Bank accounts, Pensions, Insurance, Shares in stocks and bonds.
The institutions you choose to provide these services for you use your money to provide finance for industry and business. The nature of these businesses will in turn have an impact on greenhouse gas emissions. These emissions will make up part of your indirect carbon footprint. You have the power to impact this by choosing providers which are committed to divesting (removing investment) from high emission industries such as Fossil Fuels and only investing in low emission, environmentally conscious and ethical business.
To find out more about Divesting from Fossils Fuels see – GoFossilFree
To find out more about Institutions which offer more environmentally and ethically conscious investment see – Time to Switch
You may also have money that you want to invest directly in shares or bonds. As well as savings accounts many of the environmentally conscious banks also offer investment opportunities to allow you to support small business and community projects. In addition, some local councils are starting to offer Municipal Investment schemes so you can put your money to work improving your local infrastructure and environment.
Putting a Price on Carbon Emissions
Shifting investment away from the highest polluting bussinesses will limit thier further growth. To have even more impact we can also put a price on the emissions that they make which will mean that these businesses will start to shrink more rapidly.
To find out more about Carbon Pricing policies and how you can support their introduction see – ZeroC Campaign