I’m looking to change bank to one which is committed to combatting climate change. I can’t see a clear statement from Monzo on this. For example, does Monzo use renewable energy to power its data centres? Does Monzo invest customers money in fossil fuel companies or make other investments which have a negative environmental impact? If not, could Monzo make a pledge to this effect to encourage more “environmentally aware” customers to join?
You have a bit of a read on your hands as this has been discussed at length!
Here’s the last time this came up, and the ensuing battle.
Welcome aboard btw
I have read that thread before, and it does not address how Monzo invests morey.
It keeps to simple things like encouraging their employees to cycle, using AWS, etc.
The question is: how is Monzo investing money into aiding the environment, and are they investing in fossil fuels, or not?
It’s all very good for their employees to turn the taps off when they brush their teeth and cycle to work, but how is Monzo as a company spending our money with regards to investing into the environment.
Have you seen anything on that; I am also struggling to find intimation on it?
Have you found any information yet? I am struggling to find anything with regards to Monzo’s investments in fossil fuels, or other.
Broadly speaking, it doesn’t. It lends money to customers as loans and overdrafts, it doesn’t invest money in other companies.
The only way they could fund fossil fuels is if someone bought petrol while in a overdraft.
The only other thing they do is deposit it at the Bank of England to make money.