from Hacker News

Banks use your deposits to loan money to fossil-fuel, emissions-heavy firms

by ivanmaeder on 1/7/24, 3:47 PM with 4 comments

  • by NBJack on 1/7/24, 8:53 PM

    Is this really news?

    Banks have been investing money held for decades, at least in the US.

    A nothing-burger for a slow news week? Perhaps an opportunity for "ethically sourced" interest payments?

  • by TheCryptoBro on 1/8/24, 3:50 PM

    Investments are made wherever there are the highest returns. If you want banks to change investment strategies, then develop the industries where you want them to reroute. It's the business of money. Whatever does best will always demand the most capital.

  • by toomuchtodo on 1/7/24, 8:48 PM

  • by mistrial9 on 1/7/24, 8:39 PM

    here in the USA, I believe that this mass-appeal effort to switch banks can be very effective