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Banks use your deposits to loan money to fossil-fuel, emissions-heavy firms

wired.com

13 points by ivanmaeder 2 years ago · 5 comments

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NBJack 2 years ago

Is this really news?

Banks have been investing money held for decades, at least in the US.

A nothing-burger for a slow news week? Perhaps an opportunity for "ethically sourced" interest payments?

TheCryptoBro 2 years ago

Investments are made wherever there are the highest returns. If you want banks to change investment strategies, then develop the industries where you want them to reroute. It's the business of money. Whatever does best will always demand the most capital.

toomuchtodo 2 years ago

An opportunity for Bank Rank to classify by climate impact?

https://news.ycombinator.com/item?id=38875510

https://github.com/project-bankrank/bankrank

mistrial9 2 years ago

here in the USA, I believe that this mass-appeal effort to switch banks can be very effective

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