Can moving your home loan stop a coal mine?
The big four banks literally make billions of dollars each year from the interest paid on home loans. This means that home loan customers of the big banks are some of the most powerful people in the Australian fossil fuel divestment movement. If you’re a home loan customer of the big four, you have something the banks desperately want and you can can use your leverage to pressure them to stop funding dirty coal and gas projects.
Our Amplify Divestment campaign partner, Market Forces, has worked out how much money the big banks stand to make from loans they have made to individual coal and gas projects. If enough people switch their home loans as a group, we can cancel out the banks’ dirty profits.