December 1, 2016
Much information is out there about the need to be environmentally responsible. Everyone needs to have a part in reducing the things that are harming the planet. Some banks, however, have not received the memo on this and are actively supporting and funding projects that are clearly harming the environment. You can help support green causes by putting your money in banks that are helping to make our world a better and safer place.
Of course, it can be difficult to know which lenders are going green, and which ones are not. Here is some information for you that will reveal some of the greener banks and what they are doing in the fight against climate change.
One of the best banks that has taken an active stance against companies hurting the environment is the ME Bank. A year ago, the bank signed the “Paris Pledge for Action,” which seeks to limit the global rise in temperature by two degrees Celsius. As a result, the company does not fund any mining industry companies, including those that are involved with coal and gas exports.
When you are looking for a number of green loan products, the Teachers Mutual Bank has several of them. The bank is committed to promoting sustainability and to protect the environment. Besides their regular loans, they provide loans with reduced rates for people who are looking to buy green cars or to make environmentally friendly home improvements to upgrade their homes. Some of the products that qualify include solar panels, solar hot water systems, grey water treatment systems, rainwater tanks, various appliances, insulation, and more. Their Green Car Loan is available for cars that have a CO2 value of less than180 g/km.
The Bank Australia decided in 2010 to fight environmental pollution. As of 2011, it has been carbon neutral. It uses solar panels at their main office, and rainwater. For every loan it provides for a new home, the bank sets aside an equal amount of land in its Conservation Reserve, and for new car loans, it plants a tree in order to help offset the carbon emissions. The bank also sets aside four percent of its after-tax profits for projects that support various social and environmental issues. If you are looking for a home loan, this bank is known to offer some of the best rates available.
The ANZ Banking Group have maintained carbon neutrality across their operations since 2010, and recently announced that over the next five years they would be lending $10 billion to projects that aimed to reduce greenhouse gasses. The ANZ have also pledged to enforce stricter rules for lending to coal power projects that didn’t use new technologies to reduce their carbon dioxide emissions.
As you can see, there are some banks trying to make a real difference in our world by protecting our environment. You can join in the fight to help protect our planet by getting your home loans from a bank that seeks to make a difference. Be sure to shop around for the best deal and for one that supports reducing carbon emissions.
Written by Refinancing.com.au
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