For many of us, the link between our Christian faith and how we handle our finances isn’t always at the forefront of our minds. While money was one of Jesus’ most spoken about topics, it is often overlooked compared to other aspects of discipleship. It is even less likely that we have considered how we could unwittingly be harming God’s creation and his people through our choice of bank.

The Church of England and Southwark Diocese have decided to divest from fossil fuels in response to the imminent threat of the climate crisis. Now is an important time for us to start asking questions about the projects to which our bank lends our money.

The facts are staggering. Each year, $7 trillion of private and public sector finance is invested into activities that harm the planet. Yet, only $200 billion is invested into projects that aim to conserve and restore biodiversity.

Unfortunately, many high-street banks are at the forefront of financing fossil fuel projects. Two of Europe’s highest contributing banks alone have invested $335 billion in fossil fuels since the Paris Climate Agreement was signed in 2015. These projects devastate our planet, polluting and destroying ecosystems and rendering lands uninhabitable. Despite contributing least to the climate crisis, our brothers and sisters in the global south suffer its most severe consequences through exploitation and extreme weather events.

The Bible calls for us to do good with our money (1 Timothy 6:17-19), love our neighbours, and care for God’s creation. While we are made to safeguard God’s world, the rate fossil fuels are extracted at continues to push the Earth beyond its limits for the sake of profit. Therefore, we must not ignore the injustice and destruction caused by our banks.

The Good News: Banking for Positive Change

Fortunately, it is not all doom and gloom. Some banks have flipped the script, choosing to invest for good rather than solely for profit. For example, Triodos bank lends money to projects with positive environmental impacts, and prioritises transparent banking so users know exactly where their money goes.

So, how can we act out our faith in the way we bank?

Explore Ethical Banking Options

Just Money Movement are a Christian organisation that encourages Christians to think more about how they can use their finances to positively impact God’s world. They offer useful resources for churches and individuals seeking to bank ethically.

  • Churches can use Just Money Movement’s Greener, Fairer Banking Guide which provides in-depth guidance on banking ethically and avoiding banks that invest in fossil fuel projects.
  • Individuals can explore their Big Bank Switch campaign for personal finances, where you can explore different ethical banking options and pledge to switch to greener alternatives.

Use Your Voice

Banks have power, but so do we. Consider taking action by:

  • Contacting your bank with questions about their ethical investment policies.
  • Joining peaceful protests, like recent demonstrations outside Barclays.
  • Encouraging your church to sign Just Money’s statement of concern addressed to the CEOs of big banks.

While switching banks may seem like a small step, the collective difference we can make could be monumental. If you make one green switch this month – make it this.