Call for banks to do more in fight against climate change

With the UN Paris Climate Conference beginning today, new research shows growing popular support for the banking industry and big business to do more in the fight against climate change.

The research for Triodos Bank found that climate change is an “important issue” for over half (60%) of those surveyed, and that (48%) believe banks and big business have a responsibility to do more to tackle the problem. 

The research, which also looked at attitudes of those with investments, found that two-thirds (65%) have never considered the potential impact of where their investments are held, even though they see climate change as an important issue. However, more than half (52%) said that they would change their investments if they believed it could have a positive impact on climate change.

Huw Davies, head of personal banking at Triodos Bank comments: “As our research has found, climate change is a hugely important issue for consumers, but two-thirds have never considered the impact their money may be having. Through pension funds and stocks and shares investments, there is a risk that people could be supporting practices that are damaging the environment.

“We believe banks do have a responsibility to act to tackle climate change; a view that our research shows is shared by millions of Britons. The financial sector should use the weight of its power and influence, moving from investment in unsustainable activities and into the environmentally positive alternatives we need to combat climate change."

 

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