Once we put money in our bank accounts, we tend to think that it just sits there until we spend it. But in fact, your hard-earned cash can be invested anywhere in the world, and not necessarily in ways we would approve of.

This is especially true of the big high street banks. The latest Banking on Climate Chaos report found that in 2024, Barclays invested $35.4bn in companies active in fossil fuel business, Santander $17.3bn and HSBC $16.2bn, followed by Natwest ($2.3bn) and Lloyds ($1.6bn).

Latest news - HSBC and Barclays have withdrawn from the industry's Net Zero Alliancefollowing six major US banks which quit after Trump's election

1. Switch your current account

Luckily, switching to a more ethical bank is easy! Check out some of the resources below on which banks are worth switching to (and away from) and then head over to Current Account Switch to get the process started quickly and easily. 

Review of the 'top five' ethical current accounts (July 2025) 

2. Switch your savings

Top 9 ethical savings savings accounts (May 2025)

Don't forget! Write to your old bank letting them know why you are switching. Click here and scroll about half way down the page for a template letter.

Make sure to tell your bank (or ex-bank) what you think of their climate-wrecking investments. 

3. Campaign for divestment by pensions and other fund-holders

Done all that? Great. Unfortunately, if you have a pension, that is probably still invested in fossil fuels. 

If, like many UK workers, you have a Nest pension through your employer, it's fairly simple to switch from the default option ('Retirement Date Fund') to their Ethical Fund, which does not invest your money in companies like Shell and BP.

Local council pension funds are also big investors in fossil fuels - find out here about campaigning for divestment.

Photo credit: “£10 pound notes” by Images Money, CC BY 2.0