Climate action: Aussies urged to switch banks, super and energy for the planet

By Tara McCabe ·
Two pairs of hands, one holding a jar of coins and mini trees, the other holding a globe to symbolise divestment.

This September, Bank Australia, Australian Ethical and Enova Community Energy are joining forces with not-for-profit HalfCut to encourage Australians to take climate action with their personal finances.

The Triple Switch for Earth campaign has two aims, to raise money for reforestation projects in the Daintree and to show people how much of a difference they can make with their money.

Australian Ethical chief executive John McMurdo says, “Our individual money choices have far greater power than we realise. By switching our superannuation and other savings to providers that are not invested in harmful industries, we can create powerful incentives for unsustainable businesses to do better while also reducing our environmental impact.”

HalfCut for the rainforests

HalfCut is a not-for-profit organisation founded by Jessica Clarke and James Stanton-Cook, or as he is better known “Jimmy HalfCut.” 

The organisation’s aim is to both raise funds for the world’s remaining rainforests and raise awareness of the fact that over half have already been destroyed. Right now, the not-for-profit is raising funds to buy back large parts of the Daintree rainforest up in northeast Queensland and return it to the Traditional Owners of the land, the Kuku Yalanji people, to look after.

For every new member who joins in September, Australian Ethical and Enova Energy have pledged to make donations to HalfCut.

“People are already doing their bit by reducing their environmental impact in small ways, like using a reusable coffee cup. Now we want to see them take it to the next level with our Triple Switch for Earth campaign,” says Stanton-Cook.

Three easy steps to divestment

To take part in the Triple Switch for Earth Campaign, HalfCut is encouraging Australians to:

  • Make the pledge to switch over at tripleswitch.org
  • Switch their bank, superfund and energy provider to Bank Australia, Australian Ethical and Enova Energy
  • Encourage family and friends to do the same

Switching for the better

All three campaign partners, Bank Australia, Australian Ethical and Enova Community Energy have made sustainability and ethical investing their mantra.

While both Bank Australia and Australian Ethical are B Corp certified, Enova is Australia’s first community-owned energy retailer. 

Enova’s chief executive Fiona Stening says, “The electricity grid is already 25% renewable, let’s get to 100% sooner rather than later.” Stening adds that Enova reinvests in community projects focused on renewable energy and does not invest in fossil fuels or gas.

Of course, if Enova isn’t available in your area, then you could also consider switching to Powershop, Diamond Energy or even Energy Locals. Or, if you want more options you could use Mozo’s compare and switch energy providers tool to find other green energy plans.

Other B Corp certified Australian financial providers include Beyond Bank, Future Super and Huddle Insurance. Check out our interview with Future Super co-founder Kirstin Hunter, to find out more about how where you put your money, could make a difference.

Tara McCabe
Tara McCabe
Money writer

Tara McCabe writes across all areas of personal finance here at Mozo from banking through to insurance. Tara is expert at practical money tips, showing readers ways to live richer and be socially conscious while doing it. She earned a BA (Hons) in English Literature from Canterbury Christ Church University.