Since October 2013, hundreds of Australians have shifted over $200 million out of the Big 4 Banks. Find out why...
THE PROBLEM
Our banks are funding a big problem. Since 2008, the "Big 4" banks - Westpac, Commonwealth, NAB and ANZ - have loaned almost $19 billion to new coal and gas projects in Australia. These projects threaten our land, water, health, the climate and precious ecosystems like the Great Barrier Reef. Over the past 8 months, thousands of Big 4 customers have called on the banks to stop lending to fossil fuels. But to date, those calls have fallen on deaf ears.
In 2014, the fossil fuel industry will be fighting harder than ever to get a raft of new expansion projects off the ground – from Maules Creek mine in NSW’s Leard State Forest to coal and gas ports on the Great Barrier Reef - they’ll be turning to our banks to help them out.
THE SOLUTION
Now’s our opportunity to step up the fight to protect our communities, climate and environment from the fossil fuel industry. This year, we’ll be working harder than ever to show the big banks that fossil fuels are not only bad for the climate, environment and communities – they’re bad for business. If the banks won’t divest from fossil fuels, then we’ll divest from them.
RESOURCES
Checkout these great resources from our friends at Market Forces to help you make the switch We'll be in touch about upcoming divestment days around Australia that you might like to participate in once you've divested.
- List of fossil free banks - find out whether your bank lends to fossil fuels and which banks are fossil free
- How to Switch Banks and Make it Count - a step-by-step guide about how to move your money into a fossil free bank
- Template letter to send your current bank - explaining why you're closing your account with them
- Template letter to send your new bank - a letter to send your new fossil free bank about why you are joining them
*The following banks are owned by the Big 4:
- Westpac owned: Bank of Melbourne, Bank of SA, St George
- Commonwealth owned: Bank West
- NAB owned: UBank
**If you tick the box above, FossilFree.com.au will give you a call to step you through the divestment process over the phone. Fossilfree.com.au is a referral service for people wanting to switch to a fossil free bank, super fund or energy provider. They can provide you with support, over the phone, to streamline your switch.