Last night’s election results showed that Australia voted resoundingly for urgent, meaningful action on climate change.
If you care passionately about the future of our planet, and take actions reflecting this every day from having your coffee in a reusable cup, recycling soft plastics, switching your energy provider, to voting for politicians who have a clear action plan to reduce Australia’s emissions, but you are banking with a bank that supports the fuel industry; we can help you put your money with a bank that is aligned with your values, and move your home loan to an ethical lender.
Ethical lending describes banks and lenders that are committed to making positive environmental and social impacts through their investments and funding. Note that ‘green loans’ are different, and relate to financing for something the lender considers to be environmentally friendly (e.g. solar panels for your home).
Ethical lending is a more holistic approach to meaningful change and typically means that a lender will not lend money to or invest in activities such as:
Fossil Fuels
Weapons Manufacture
Live animal exports
Tobacco
Gambling
A good resource on all of this is a website called Market Forces as this keeps track of which banks lend to
the fossil fuel industry. It’s great to see how many banks and credit unions don’t support the colossal
fossil industry anymore.
At Coast Home Loans we have a range of lenders to choose from who offer ethical lending options and are on Market Force’s Good List:
Adelaide Bank
Firefighters Mutual Bank
Gateway Bank
Heritage Bank
Newcastle Permanent
Suncorp
Teachers Mutual Bank
Ubank
UniBank
· If choosing an ethical lender is something that you want prioritized when choosing a bank and home loan product for you, be sure to let us know upfront, so we can make sure we are putting forward one of the above lenders when we present our final shortlist of options to you.
The rates from ethical lenders are very competitive. Thankfully it’s no longer necessarily a case of ‘paying more’ to ‘do good’.
For example, Newcastle Permanent (on today 22/05) has a one year fixed rate special of 2.99%
If you’d like to explore home loan options from an ethical bank, we’d love to help you do that. Reach out today or book a free 15 minute consultation call.