Hi! I’m a potential customer, looking at switching a business account from HSBC, mainly because I want to move to a bank with a strong environmental policy, because I’m deeply concerned by the general lack of action on the climate crisis. Where we invest our money matters!
I see there is lots of chat about things Monzo are doing - offices powered by renewables, lights off at night, minimal use of paper etc. However these are superficial and have very low compared to the impact from the of the money the bank manages, ie where it is invested.
I may have misunderstood how Monzo works… I’m assuming the bank invests it’s customers money in other places? If so:
Does Monzo have a clear ethical or environmental investment policy?
Has Monzo ever invested in fossil fuel industry, any of the large corporations which actively fund and promote climate change denial, or companies which fund deforestation (for example Blackrock, JP Morgan, HSBC, Santander…)?
I think this information is important to share, the service tou provide looks good and I hear lots of positive things, but if Monzo doesn’t have a clear environmental policy then for me it’s no better than the big banks.