It feels good putting your money where your mouth is.
After attending the Do The Maths tour back in June, I decided to make sure that I was not funding the fossil fuel industry indirectly. I really wanted to make sure that I was not part of the problem.
Well, so far these are the actions that I have taken;
Superannuation Fund (similar to 401k) – My investments are in cash and cautious schemes which are interest bearing cash and bonds, and I checked that none of the investments are in the fossil fuel industry. There is a small percentage invested in commercial property, but that is it. Looking good so far.
Shares – Sold all of my shares that were invested in financiers of the fossil fuel industry. Had to wait until the new tax year (1 July) to ensure that I didn’t get stung with a big capital gains tax bill. The money that I made from the sale is going straight onto the mortgage. Win, win, both ways.
Mortgage – Not with any of the major banks and the company does not loan to fossil fuel projects (RHG Home Loans).
Banks – Still looking at my options here. I believe that there has been some good research done by Market Forces, so if you are looking for a financial institution that does not support the fossil fuel industry then check out their reviews. There is a great comparison chart on their site.
Anyway, that is what I have done so far.
Have any of you taken steps towards divesting from the fossil fuel industry?