See the "Accelerate" documentary for free

The "Accelerate" documentary is now available to view for free! It's just under an hour, has featured at special screenings around the country and is now online for free.

The Accelerate documentary shows why we need climate action, and how collectively we can work together for a safe climate future.

I made a super switch

The email title was subtle - "Confirmation of your transaction". But it meant much more. Now my retirement savings are being invested ethically. Not with companies that are damaging the planet I will retire on.

The "transaction" was moving my old superannuation money into my fund with Australian Ethical.

If you are wondering about your current super fund, check out Super Switch. There you can also find a better fund - like Australian Ethical or Future Super.

PS. This was really easy to do. I'd already joined Australian Ethical so I just filled in a form to get my old (not so ethical) company to switch my savings across. Then the two companies sort it out for us. I should have done this ages ago.

PPS. As I write this my new fund averages 8.1% growth per year over the past decade. My previous fund did only 5.0%. It's great when the ethical decision is also a very profitable decision.

Bad for the planet, bad for your wallet

Divestment Day is this weekend. It's an event where people leave the major banks - who are using our money to fund fossil fuels.

In case climate change is not enough reason to change banks, this data came out recently.

Turns out the the major banks (the'big 4' in Australia) also charge us higher than average rates on home loans.

Perhaps they have to make up for the money they lose by investing in last century's energy sources.

Consumer affairs program The Checkout investigates banks, and finds out that we pay more and get worse service with the big 4.
It was surprising just how much better of we can be with other banks.

Bye George - I've done it!

Today I took the last of my money out of St George Bank. St George is owned by Westpac which lends to fossil fuel companies. Part one was transferring the last of the money out of St George.

Part two was telling the bank to close the accounts. I also printed out a letter (get your template here) to let the bank know why I was taking my money out.

And I couldn't resist a little card cutting photo. Cutting my connection with fossil fuels. Oh and my T-shirt says "My bank chose fossil fuels. So I chose another bank."

See also: Sending my bank a message

Sending the bank a message

I just sent my bank a message. They have lent billions of dollars to fossil fuel projects over the last few years. Obviously this increases pollution and increases climate change.

Also, with the world switching to clean energy, loans to fossil fuels are also financially risky. So I let the bank know how I felt about this.

It's quite easy to do. Find out where your bank stands in the bank comparison table. If they're investing in fossil fuels there's a "tell them to stop" link. There's a template letter. Edit it if you like (I did) and click 'send'.

PS. I've already moved 99% of my money from this bank to an ethical alternative. But this was a great chance to let them know why I'm about to close the account.

See also Bye George - I've done it!

The End of Coal?

ABC's Four Corners did a great episode on Australia's obsession with coal, asking whether we are putting all our eggs in one basket, and if that basket is about to break?

"The reality is: the transition is happening irrespective of what Australia does."
"The world is committing to a low-carbon future. Australia's challenge is not to be left dependent on coal if the rest of the world leaves it behind."

The report included 1960s footage of one of Australia's coal power stations when it was new. Odd to think we're still relying on that technology.

It was also stunning to see the unwavering dogmatic belief of coal executives regardless of all the economic data. With comments like "I simply don't accept that..." it's understandable that cartoonists draw the industry as ostriches with heads in the sand.

The overall message is clear. It doesn't matter how much of a resource we have. If nobody wants to buy it, then it's a waste of money to invest in digging it up. Or as one of the economist puts it:

"What happens to Australia and our national prosperity if coal becomes a less and less valuable commodity? In many ways the current Government and Australia as a whole is doubling down on coal. And we're doubling down on a technology which is 100 years old, and which is rapidly being out-competed in many parts of the world by new technologies that are cleaner and superior in many ways, that have outlook of just lower and lower costs through time."

Breaking up with fossil fuels

Over 450 events were held in 60 countries, to mark Global Divestment Day. The idea is to withdraw our business from banks that invest in fossil fuels.

Of course the weekend was also Valentine's Day, so a British group put together this witty video of people realising it was time to end their relationship.



On the day, there were a lots of people divesting, and a couple of 'remade' songs. A group in Adelaide, dressed as Tina Turner to sing "Simply Divest", while a big group in Sydney enjoyed "Stop in the name of love (before you wreck the reef)". That song made it onto SBS News (at the 3 minute mark).

Australians, see if your bank invests in fossil fuels.

Global Divestment Day

With Global Divestment Day happening this weekend around the world, this video does some explaining, on what divestment is all about.



"Fossil fuels companies only care about one thing - money. Who can stand up against them and steer the world towards a safe future? You can."

"We'll close our accounts with banks and funds who continue to invest in climate chaos."

"Divestment is deliberately moving your money away from companies you're not happy with. It's helped to stop some of history's worst offenders including Apartheid South Africa."

"Each act of divestment takes back power from fossil fuel companies and helps create a mandate for our leaders to take real action."

Australians, see if your bank is funding fossil fuels.

Getting Satisfaction at the Bank Branch

Two things happen when you take your money out of a bank that finances fossil fuels. First, the good feeling from knowing that your money is no longer being used by the bank to ruin our planet - and that you've done something to improve life for yourself - and people everywhere.

The second is that you get a chance to tell off your old bank.

As I transferred my money, I entered the description "Move to a non-coal bank". I don't know if anyone reads that, but I feel good when I read it on the statement.

I also took the time to write the bank a short note to say that

• I'd learnt they were funding fossil fuels,
  
• I didn't think that was a responsible use of money, and so
  
• I'm taking my money elsewhere.

PS. See whether your bank deserves the same treatment, and perhaps switch banks.

Getting our money back

On the weekend hundreds of bank customers around Australia took their money back and closed their accounts.

It was an ethical move - to stop the banks using our money to finance fossil fuel burning.

This man with the novelty withdrawal slip was completely serious about taking his quarter of a million dollars elsewhere - for the sake of his kids' future. Others brought their kids along - to feel the experience of taking a moral stand.

A couple of news outlets covered the day. Here's the best tv coverage.



To hear from the people themselves, check out this compilation video.



See Divestment Day Live, for more pictures of the event - from cities and towns around Australia.

Celebrity Endorsement

Missy Higgins is taking part in, and promoting, this Saturday's Divestment Day.

It's a day to encourage people to move their money from banks that invest in fossil fuels, to banks that don't. (In case the interest rate difference wasn't enough reason).

As Missy Higgins wrote on her facebook account:

"... my bank has loaned over $6.5 billion to dirty fossil fuels since 2008. I don't know about you but I don't like my money being used to accelerate climate change, it seems insane in this day and age. I'd much prefer my money to be funding renewable energy projects and development, things that might actually save our planet rather than destroy it. So I've written to my bank and told them that if they keep funding fossil fuels I am going to leave. It's our money, we should be able to decide what it's invested in, don't you think? The big four banks have all lent billions to fossil fuels, so if you bank with ANZ, CommBank, NAB or Westpac, join 'Divestment Day' and tell the banks that, "if you choose fossil fuels, we'll choose another bank."

See how your bank invests your money - and look for a better deal on my bank comparison table.

PS. This comes after Felix Riebl joined a previous divestment event.

The "Value" of Coal

I've talked a bit about divestment - the idea of getting money out of fossil fuels.

Part of the reason is to make an ethical stand. But the other part is pure finance - taking money out of something that's losing value.

This chart is an example of what I'm talking about. It shows how Australia's coal companies have been losing value and dropping in share price over the past couple of years.

I'm no financial analyst, but to me they seem to past their 'best before' date.

In related news, this Saturday is Divestment Day - a day for taking money out of banks that still invest in fossil fuels.

(Of course, you could do it any day you like, but it's fun to make a special day.)

PS. I was surprised at how much these companies had collapsed in the past few years, so I checked up each company on the Australian Stock Exchange website. It's shocking stuff.

New Hope Corporation (NHC)
Whitehaven Coal (WHC)
Aquila Resources (delisted) High of $11.07 - Jan 2012 $5.85 - Sold at $3.40
Yancoal (YAL)
Cockatoo Coal (COK)
Bandanna (BND)
Carabella (delisted) High of $2.50 - Jan 2012 $1.10 - Sold at 45c
NuCoal (NCR)
MetroCoal (MTE)
Stanmore (SMR)

Outbreak of church ethics

I've just read that the Canberra division of the Anglican church has decided to divest from coal, oil and gas companies. "The Diocese accepts that it is both ethical and responsible to divest from fossil fuel stocks."

The comes very soon after the Perth Anglicans and the Uniting Church in Western Australia also decided to stop investing in fossil fuels.

Churches are really starting to catch on - that it's difficult to love one's neighbour while at the same time as funding climate catastrophes.

Super Switch - find a better super fund

What if our retirement funds are delivering us a world unfit to retire into? That's the problem Super Switch is here to solve. It's helps you pick a superannuation account that matches your values.

Use the site to check up your super fund. Find out how much of your money is invested in fossil fuel companies. I compared my current one (SunSuper) to Australian Ethical (on the right).

It seems Super Switch had a hard time finding out where SunSuper invests my money. So have I - particularly when asking about their "ethical" option. Australian Ethical looks much better, with around 90% invested in fossil free companies.

The site also gives you the option to contact your current fund to ask them to offer a fossil free option - and the option to switch to a better one.

There's also a ranking of super funds according to the amount of fossil free investment.

Uniting Church to disinvest from fossil fuels

"With national governments reluctant to take difficult decisions, it falls to us as members of the body of Christ to show leadership in taking action to reduce damaging pollution."

Those were the words of Uniting Church president Andrew Dutney, as the church resolved to divest from fossil fuels companies.

"As Christians we are called to respect and care for the whole of creation," said Rev. Prof. Dutney. "To avoid damaging climate change we must move quickly to a clean energy economy. The Uniting Church recognises that continued investment in fossil fuel industries does not support the change needed."

Perhaps because of the church's strong connection with Pacific island churches, there is a recognition of the effects of fossil fuels on other nations - and how starkly that contrasts with 'loving one's neighbour'. For the church, this is a matter of social, environmental, and intergenerational justice.

The president also recommended that other churches follow the Uniting church's lead.

More info:
Uniting Church website
Brisbane Times article

PS. The move also seems popular with church members. When the news was posted on the church facebook page, the article received more likes than the page has followers.

Happy New (financial) Year!

To help the banks and superannuation companies celebrate the new financial year, some people from 350.org popped in with cakes and cupcakes.

These wonderful cakes also had a message - that the majority of Australians would prefer their bank and superannuation to not be investing in fossil fuels.

Of course, another way to give banks this message is to move our business to banks that don't invest in coal. Same goes for superannuation.

Thankyou, Bendigo Bank

Bendigo Bank, Australia's biggest bank (outside the major 4) has announced its opposition to coal, saying it will "not lend to companies for whom the core ­activity is the exploration, mining, manufacture or export of thermal coal or coal seam gas".

This is great news. Customers have a new choice for banking ethically, without worrying that their savings are being used to fund coal pollution. Also, it shows that banks can run just fine without the fossil fuel industry.

Why not join me in thanking Bendigo (it's an easy type-and-send). This might be the first time we've sent a thankyou to a bank!

PS. Compare banks at Market Forces
See Bendigo's full statement

My Bank Chose Fossil Fuels

On Saturday I was at my local Divestment Day event. There was a big turn-out by Doctors for the Environment, but mostly it was ordinary customers wanting to move their money to a bank that doesn't invest in fossil fuels.

The move spread even to parliament. Senator Larissa Waters announced on facebook that she was moving her mortgage from ANZ.

As a side note, here in Brisbane the NAB refused to let anyone close their accounts on the day. Customers were told they would have to come back again another day. It didn't seem like good customer service to me.

See more photos from around the country.
Download the How to Switch Banks guide.

Archbishop Desmond Tutu supports divestment

Retired Archbishop Desmond Tutu is the latest church leader to call for divestment from fossil fuels.

Tutu would have witnessed a similar divestment helping bring an end to apartheid, and says that "people of conscience need to break their ties with corporations financing the injustice of climate change." In addition to selling shares in these companies he also suggest boycotting events, sports teams and programs sponsored by fossil fuel companies.

"It makes no sense to invest in companies that undermine our future."

The call comes as some churches in Australia and the USA are beginning to apply their beliefs to their investments.

Related Links: Full Desmond Tutu article
Uniting Church Divests
Faith v Fossil Fuels
Divestment Day - May 3

UPDATE: Archbishop Desmond Tutu writes his own article, argues how and why we can tackle climate change, just as we took on apartheid.

And it is not just that we can stop it, we have a responsibility to do so that began in the genesis of humanity, when God commanded the earliest human inhabitants ... to "keep" it; not to abuse it, not to make as much money as possible from it, not to destroy it.

Time to Un-invest from Fossil Fuels

May 3 is Divestment Day. People around Australia will be taking their money out of the banks that fund carbon pollution - and putting it into banks that are fossil fuel free.

Many people have signed up, and it is expected that over $100 million will be moved away from fossil fuels on that day. Check the national guide for where your local event will be. Some locations hold an event on Friday if banks don't open there on the Saturday.

The events are designed to make the banks notice the reason people are taking their money back. After all, the best outcome would be if these banks also stopped funding pollution. Even if you can't make an event, you can still move your money, and let your bank know why.

To help you switch, I've made a list of banks and their current rates. There is also a 5-step guide to switching banks, and template letters to send to your old bank and your new bank.

PS. In making my list of banks and their rates, I also found that switching to a 'cleaner' bank typically also means getting a better interest rate. That's what I call a 'Convenient Solution'. :)