Section 1 – Introduction
If you’ve arrived on this resource pack, that means you’re committed to making a change to go green: to do your bit towards tackling the climate crisis.
Switching your bank, energy provider or pension and moving your money away from investments in fossil fuels is the most effective, simple step you can take towards this goal.
In fact, recent research by Nordea found that changing where your money is invested is 27 times more effective in reducing your carbon footprint than taking fewer flights, going vegan and using less water, all put together.
This guide will be useful for:
The UK definition of SME is generally a small or medium-sized enterprise with fewer than 250 employees, less than or equal to €50 million (at time of writing, this translates to approximately £42 million).
Bigger than that? It’s still possible to make the switch! We recommend reaching out to one of our recommended providers for tailored advice if you are a larger business. We have provided their contact details at the bottom of this guide for your benefit.
We’ll take you through the why, what and how of moving your money: why moving money away from fossil fuel extraction is needed; what you can do about it; and how to start the process right now.
 ‘Sustainable finance at Nordea’. Nordea, 2019.
We’re going to include some info here about why you should make the switch.
If you’re already sold and want to get to the how – head on over to our guides: ‘Switching your current account’ or ‘Switching your business account’.
Section 3 – Sum up
You’ve made it to the end of our green banking guide!
The combined impact of moving your money from your current account, business banking account, energy provider and pension can be huge.
If you join us in moving money en masse, we can generate pressure on banks and pension providers to stop investing in fossil fuels. A brighter future is possible.
So far, through using our service, we have transferred £143 million+ out of fossil-fuel supporting banks. Furthermore, 24,000+ users have spread the word and told their banks we’ve had enough.
Are you wondering what else you can do? If so, help us spread the word about switching.
You can do this in three ways:
1. Tell your bank why you’re leaving
On our website (www.switchit.green), we provide a template letter to send to your bank on one of our “Switch Days”. This floods the banking providers with letters from customers who are leaving, amplifying their individual actions and turning them into collection action.
2. Tell your friends, colleagues or customers that you’ve made the switch
The more people that know how easy the switch can be, the more we can create ripple effects of divestments from the fossil fuel industry.
Switching your money can be good for business, with customers more attuned than ever to your green credentials. Spread the word that you’ve switched to your customers, and see if they’ll join you in switching their current accounts, too.
3. Join one of our employee engagement programmes
If you’re feeling inspired by the power of switching your money and would like to engage your employees in their own switching journeys, then Switch It can support you further.
Our Switching Campaign for businesses is a six-week-long campaign filled with motivational and inspirational information, promoting positive environmental choices on climate, culminating in a high-impact action.
For employee engagement programmes, please get in touch at: firstname.lastname@example.org
Section 4 – Further Information
Contact details for our five recommended ethical banking providers, if required for further information:
To ask a question via website: https://www.triodos.co.uk/contact-us
“It’s Royal Mail registered and simple to use – write it on your envelope as shown above (no stamp required) and your letter will get to us free of charge by second class mail. For first class mail, you can post in the normal way to: Triodos Bank, Deanery Road, Bristol, BS1 5AS”
Thank you to our partner Switch It Green for their contribution to this guide to Green Banking.