Stop the Money Pipeline
Banks, insurance companies, and asset managers are funding, insuring and investing in the climate crisis. Stopping the Money Pipeline and helping to fund the clean transition is one of the most important ways we can avert climate destruction.
Since the 2015 Paris Accords were signed, the world’s 60 biggest banks poured over $5.5 trillion into the fossil fuel industry, driving climate chaos & causing deadly local community impacts. To see what the worst offenders are doing with your money, check out the latest report from the Rainforest Action Network.
While they pull coverage from climate ravaged states like California and Florida, insurance companies continue to invest in fossil fuel projects.
Tens of thousands of people and institutions that have pledged or have already divested over $40 Trillion. You can join them! Move your Money to a clean future, and then let the world know with these simple actions!
Call to Action: Stop the Money Pipeline
- Write them a letter
- Post to Social Media
- On Yelp or other Bank review sites, tell people you don’t want your money financing Climate Catastrophe.
Change Investments, Change the World
Speed the transition to a clean energy economy by moving your money out of polluting megabanks and unhealthy investments.
You may have money in banking (checking and savings in banks and/or credit unions, credit cards, loans) and in equity investments (mutual funds, Exchange Traded Funds (ETFs) and stocks) held in taxable and retirement accounts (e.g., IRAs, 401(k), 403(b), SIP IRAs, Tax Sheltered Annuities, pension funds).
How do I know what my money is invested in?
A great first step is to listen to our August 2023 Speakers Series talk for an introduction on divesting your mutual funds, stocks and bank accounts from fossil fuels: webinar video and slide deck.
Mutual Funds. How clean are your mutual funds? As mentioned in this talk, you may be able to find its holdings in fossil fuels (or in other companies relevant to other issues like prisons) by visiting: Fossil Free Funds. You can also look at Morningstar‘s Sustainability metrics on their screener (via free trial, subscription or possibly public library). There is also information of note on their Sustainable Investing Page. If you belong to an online brokerage you can also use its tools to screen for “Environment, Social and Governance (ESG),” “sustainability”, and “fossil- or carbon-free” but it is worthwhile to check for the resulting fund’s rating on Fossil Free Funds to make sure the tool is accurate.
Retirement Funds. Invested with TIAA-CREF? Check out TIAA-divest.org. Are you in the New Mexico Educational Retirement Board (ERB)? Here are the NM ERB Portfolio Holdings. Are you investing in PERA? See what Colorado PERA employees are demanding.
Need help with your investments? Consider a brokerage that specializes in divesting from oil and gas and investing in a clean energy future. We cannot endorse any brokerages or planners, but in addition to Arik Vickery’s presentation about, here is an example of a group that invests fossil free, The Carbon Collective, and here is an example of a carbon-free mutual fund family, Green Century Funds and its Guide to Fossil Free Investing.
Banks, Credit Unions and Credit Cards
Is your bank using your money to fund new fossil fuel projects?
These are the largest fossil fuel financiers since the Paris Agreement, 2016-2022, according to the RAN 2023 report.
Want to find a bank that invests for a clean climate future instead?
Visit Bank.Green,
Green America to find a better bank or credit card.
Some Fossil Free Banking and Credit Card Options:
| Amalgamated Bank | B Corp, GABV | New York, Washington, D.C. |
| Aspiration* | B Corp | Online only |
| Beneficial State Bank | B Corp, GABV, CDFI | California, Oregon, Washington |
| City First Bank of DC | B Corp, GABV, CDFI | Washington, D.C. |
| Mascoma Savings Bank | B Corp | New Hampshire, Vermont |
Local New Mexico Credit Unions:
| Sandia Laboratory Federal Credit Union
Albuquerque, NM |
Del Norte Credit Union
Santa Fe, NM |
Animas Credit Union
Farmington, NM |
| Nusenda Credit Union
Albuquerque, NM |
State Employees Credit Union
Santa Fe, NM
|
Artesia Credit Union
Artesia, NM Assets: $113.08 Million |
| US Eagle Federal Credit Union
Albuquerque, NM |
Guadalupe Credit Union
Santa Fe, NM
|
Estacado Federal Credit Union
Hobbs, NM |
| Kirtland Federal Credit Union
Albuquerque, NM |
White Sands Federal Credit Union
Las Cruces, NM |
Cannon Federal Credit Union
Clovis, NM |
| Sandia Area Federal Credit Union
Albuquerque, NM |
Zia Credit Union
Los Alamos, NM |
Eddy Federal Credit Union
Carlsbad, NM |
| First Financial Credit Union
Albuquerque, NM |
Otero Federal Credit Union
Alamogordo, NM |
Roswell Community Federal Credit Union
Roswell, NM |
| Rio Grande Credit Union
Albuquerque, NM |
White Sands Federal Credit Union
Las Cruces, NM |
Belen Railway Employees Credit Union
Belen, NM |
Put Your Money to Work at Credit Unions that lend for Clean Energy Projects
Some credit unions use your deposits for lending to people who want to add solar, buy an EV or electrify/green up the efficiency of their homes. Here are a few examples. This is not an endorsement.
Clean Energy Credit Union is a first-of-its-kind financial institution, a not-for-profit, tax-exempt cooperative that only gives loans for clean energy projects like solar electric systems, geothermal heat pump systems, electric cars and bikes, and green home improvements. To be eligible must be a member or join one of several green organizations for a nominal fee.
Nusenda also offers solar and clean energy loans.
Rio Grande Credit Union offers fuel efficient car loans
offers Solar Loans.
offers Smart-E Loans, long-term, low-interest financing to help New Mexicans make 40 different kinds of home energy improvements.