Money rules the world – but the world ruled by money is getting worse. If money is the cause of all destruction, why don’t we act?

Every individual has a voice, at least regarding their own money. Everyone should and must use this right of co-determination. A simple method is to open an account at a sustainable bank and invest our money to have a sustainable effect. It is up to us to take control of our money’s impact on the world and direct it in a way that creates a better tomorrow. 

At WE LOVE ENERGY, we do not merely support renewable energy and sustainable projects, but we recently became a partner of the sustainable bank Triodos. You can find out more about this and how you can also live CO2-neutral for a year with sustainable banking at www.we-love-energy.com.

How does sustainable banking work? 

In principle, a sustainable bank works like any other bank: it acts as an intermediary between savers and the economy. Bank customers’ deposits are passed on to the economy in the form of loans. However, financial institutions such as Triodos Bank only grant loans to companies and institutions that create added value for people, the environment, or culture. Therefore, sustainable banks invest in positive change and finance, for example, renewable energy, schools, or sustainable real estate.

How do I identify a sustainable bank?

To be sure that you are investing your money in a truly sustainable way, there are some characteristics by which a sustainable bank is recognized:

a) No speculation with staple foods:

You don’t gamble with food. Food speculation means betting that agricultural products, for example, grain, will become scarce and thus more expensive due to environmental influences. As a result, in particular, people in developing countries can afford even less food..

b) Stop war, don’t promote it: 

Many banks invest in the arms and armaments industry. A sustainable bank deliberately distances itself from this. They do not want to be complicit in additional suffering and death.

c) Exclusion criteria for companies: 

A sustainable bank consciously selects its companies. Companies that destroy the environment, tolerate child labor, violate human rights, conduct animal experiments, or manipulate food genetically will not be able to do business with a sustainable bank.

d) Promoting the energy transition:

When it comes to energy, a sustainable bank also aims to go a significant step further.  Money is not put into coal or nuclear power plants but is used to build or promote renewable energies such as hydro or wind power.

e) Investment in ecological and social projects:

A sustainable bank also has to work with its customers’ money. Only these funds are invested purely in ecological and social projects.

So what is the difference between a sustainable and a commercial bank?

The work of a sustainable bank depends on trust. That’s why a sustainable bank publishes detailed information about each company to which it grants a loan. This allows deposit customers and investors to understand exactly what the banks are doing with their money. Conventional banks generally do not disclose to which companies their loans are granted. As a result, most bank customers don’t know what happens to their deposits and how their money is used. Customers don’t know whether their money is used in the arms industry or whether it is granted to finance intensive livestock farming.

Why should I switch to a sustainable bank?

Because it’s easy to make your money work for a better tomorrow. Opening an account at a sustainable bank like Triodos, makes it clear what happens to your savings, and you can be sure that it is invested to benefit our planet.