FAQs – Your questions answered on the Divest! campaign
October 21, 2014
Since we launched the Divest! campaign and report on Monday we’ve had a ton of great feedback and positive responses. Thanks so much for taking part! Don’t forget to put your bank on notice, and then share our campaign with your friends, family and networks when you have.
We’ve had a few queries come in about the campaign, our report, and our new website, so in time honoured fashion we thought we’d publish a collection of your frequently asked questions below. If there’s anything else you’d like to know, please do get in touch via the contact form on our new website.
But where can I actually move my money to? There’s a growing number of great places to move your money to – especially for savers or if you want to make an investment savings accounts. You can check out all the best places to do social and environmental good with your money, whilst still making a fair return, on the Good Money pages of our new website.
Sure, it’s not perfect – the UK has one of the most consolidated banking sectors in the world – but that’s why we’re campaigning to fix that, and to get more genuine choice on the high street, rather than of the same failed banking model. Move Your Money can help with that kind of thing. Right now – let’s make the big banks sweat!
I’ve already moved from the big 5 – what can I do? Whoopie! Nice one. Bit of an inevitability with the right-on folk in our networks! There are plenty of us that haven’t moved yet though – so please do spread the word and see if you can get others involved.
Emailing your bank is an easy action through the Move Your Money campaign page, and everyone with a bank account should be taking it.
What about targeting institutions – don’t they have all the money? Yep, the main focus of Fossil Free is the big institutions – Universities, Local Authorities, Churches etc – but collective personal action is also very effective.
Governments and businesses will only act once the public makes its voice heard, and boycott and divestment movements have been shown to be effective time and time again. Thankfully, the current fossil fuel divestment movement is one of the fastest growing divestment movements ever!
It’s high time the big banks heard what citizens (the ones that bailed them out) have to say, and that they moved your money out of fossil fuels for good.
Will we have a ‘Divestment Day’ like the Australians? Keep your eyes peeled oh wise ones.. good news coming soon!
What are these MYM scores? Did you just make them up?! No, we did not. The Move Your Money scores are taken from our scorecard, which we released in September 2013 in conjunction with the changes to regulations about switching banks.
Our scorecard measures 72 different UK banks and building societies in five areas: their Honesty, Customer Service, Impact on the Real Economy, Culture, and Ethics. Across these areas, we used publicly available data from the banks’ own annual reports, using publicly available methodology.
We will be adding a page on our scorecard to our new website very soon – watch this space!
Thanks very much, and don’t forget to put your bank on notice, and then share the campaign amongst your networks!