Issue 1 of How to invest sustainably
I’m one of those people who tries to save a bit every month but also haven't had time to reflect too much about it. So for years I passively let money grow in my current account (eek) - when I got a bit smarter I tried higher interest savings accounts. Well the days of interest from your bank account are over, for now at least.
That got me thinking about my assets, there must be something better than practically losing money in my current account. Maybe I should look at investments or funds? When I started to look I also researched what the banks/funds were investing in. After all that is my/your/our money they’re investing…
Some of the (disheartening) things I found:
- Around 370 billion SEK from bank accounts is invested in fossil fuels like oil, coal and gas
- Swedish owned shares in fossil fuels will emit 5 billion tons of CO2 emissions
- 7 of the major banks in Sweden invested in companies that decimated the rainforest in Borneo - some of these investments were included in the bank's 'sustainable' funds.
I've always understood the importance of finance but this shines a new light on exactly how important it is and the impact it has on our world. If we want change we need to start with our money. But getting our finance to work for a more sustainable future seems hard - and my research didn't give the impression that it's easy for me as a private individual. That's why I decided to start this course - because I'm sure I'm not alone. It can't be so hard to invest sustainably that we let it slip without even giving it a try.
So, how hard can it be to invest smart? Let's find out!