money

Money makes the world go round, but is it spinning the right way? 

 

The money we put into bank accounts, shares and superannuation is lent as capital to finance business – including businesses doing the wrong thing by the environment. To ensure your money isn’t used to harm the planet, switch your super, savings or shares to ethical (or “socially responsible”) investment funds.  

 

 

money facts

l In 2005, $7.67 billion was invested in ethical funds in Australia – up from $325 million in 2000 (source: www.eia.org.au).

 

money: key steps

1.      Make your super and shares ethical. Talk to an ethical investment broker or see if your company/industry super fund has an ethical option. Ethical investments work just like normal funds, except they screen out companies engaged in socially or environmentally harmful activities. (The exact criteria varies from fund to fund.) Studies suggest ethical investments perform as well as or above average. The Ethical Investment Association website lists ethical brokers and funds.

 

Want to do more?

q Support shareholder campaigns to encourage firms you invest in to become greener (www.ethical.shares.green.net.au).

q While there is not yet an ethically invested bank account in Australia, some banks and building societies use your money to invest in local communities and to make green loans.

q Join local community trading networks such as LETS (Local Exchange Trading System).

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