Do you have a call with your branch manager lined up? Here’s a rough outline of what you should say. Feel free to adapt it to your needs.
- For the most part, I am happy with the service I receive from your bank.
- However, I am very concerned about climate change because of (give a personal reason such as ‘my kids’/’family in Florida or the Philippines/global food supplies/biodiversity) and I recently saw the Banking on Climate Change Report 2020. Are you aware of this report? [Pause for response]
- The Banking on Climate Change Report shows that your bank has poured [XX] billion into the fossil fuel industry since the Paris Climate Accord.
- I can’t stand banking with a company that is doing so much damage to our planet. In April, I plan to close my account and move my money to the cleanest bank. Hopefully, your bank will release a strong and detailed climate plan and I will be able to stay.
Most of the big banks have now pledged to have ‘net-zero’ lending portfolios by 2050, but the projects they are lending money for today will still be operational in 2050 and beyond. What matters most is what they do in the next few years. You can read our take on TD, BMO and RBC‘s plans here.