Move

your money

Many of our banks and superannuation funds are using our hard-earned money to fund the climate crisis by investing in damaging fossil fuel projects that we simply can't afford. Worsening climate impacts are already taking a toll on the outdoors - our favourite places and activities and our lifestyles and work. By moving our money, we're taking a stand for what matters!

What is divestment?

Divestment is the opposite of investing, the action of moving money away from a particular investment.

Why should we divest our banks and supers away from fossil fuels?

Since 2016, Commonwealth Bank, Westpac, NAB and ANZ collectively lent $35.5 billion to coal, oil and gas projects! [1] Likewise, four of the nation's biggest super funds have billions of dollars invested in fossil fuels. [2]

This money has helped the fossil fuel industry continue to grow right when we need it to shrink. Meeting the Paris goal of limiting global warming to less than 2°C and as close to 1.5°C as possible requires global emissions to halve by 2030, and reach net zero by 2050. [1] We need to keep fossil fuels in the ground! [3]

What does divesting achieve?

Divestment impacts the legitimacy, reputation and viability of the fossil fuel industry and erodes the social license it needs to operate, whilst sending a strong message to banks and super funds.

Who's divested?

Globally as of June 2020, institutions managing more than US$14 trillion have committed to divest, while more than 58,000 individuals have registered divestment commitments of $5.2 billion. [4]

Is it difficult?

Many people are surprised by how simple and pain free it is to switch banks accounts and super funds. And the beauty is, you only have to do this climate action once, and then it's done!

PS. Have you already divested your bank account and your super?

Please let us know here.

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How to Switch Your Superannuation Fund

Step #1 - Find out where your superannuation fund stands

See if your super is investing in fossil fuels here.  If so, proceed to step 2.

 

Step #2 - Pledge to divest

Fill out the form on this page to pledge that you'll divest your super.

Step #3 - Find a superannuation fund to switch to

Find a super with comprehensive fossil fuel exclusions here. You can also see ethical supers ranked here.

Step #4 - Make the Switch

Move your super.

Give your employer your new super information and then consolidate your funds. Read an excellent set of instructions here!

Step #5 - Celebrate! You're a superstar!

How to Switch Your Bank Account

Step #1 - Find out where your bank stands

See if your bank or credit union is investing in fossil fuels here. If so, proceed to step 2.

 

Step #2 - Pledge to divest

Fill out the form above to pledge that you'll divest your bank.

Step #3 - Find a bank to switch to

Find the banks that don't invest in fossil fuels here (click the green tab) and pick one that's right for you.

Step #4 - Make the Switch

Move your money.

Set up your new account, transfer your regular payments and income, move your money and close your old account. Read a simple set of instructions here and remember that your new bank is there to help!

Step #5 - Celebrate! You're amazing!

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If you have any questions or comments about this action please get in touch.

References

 

[1] Big banks accused of climate hypocrisy. Australian Financial Review, Jul 7, 2020

[2] Super giants funnel billions into fossil fuels, vote down climate push. Sydney Morning Herald, Feb 13, 2020

[3] Fossil fuel production on track for double the safe climate limit. The Guardian, 20 Nov 2019

[4] DIVESTMENT, Market Forces