| Posted in Financial Literacy
Healthy Finances, Healthier Planet
As our world changes, so does our view of finances and banking. Today, it’s essential to consider a sustainable future for everyone while actively shaping the communities we call home. Green banking is simply that: a way to help bridge the gap between financial growth and ecological stability. Green banking has several benefits:
- Better for the environment. It helps cut down carbon emissions and reduce pollution (especially through paper and waste) while transmitting information faster and more reliably.
- Helps connect and strengthen the community. Many banks choose to lend to socially responsible companies and to promote ties with sustainably certified organizations, such as B corporation certified.
- Promotes wellness. Green banking doesn’t only provide financial benefits to eco- friendly organizations – it helps encourage healthy habits that can translate into benefits for everyday life.
These might seem like lofty goals, but let’s dive into how green banking makes this (and more) possible.
What to Look for in a Bank
Eco-friendly banks might have specific policies and procedures, or they might simply operate as a traditional bank with an eye towards a green future. While it varies by bank and by organization, there are a few good rules of thumb for discerning a green bank:
- Commitment to using less paper. Many banking and financial records are now kept and shared digitally. This is safer, cleaner, and less wasteful. It also saves money.
- B Corporation certification. Many green banks seek out becoming B Corp certified, which means they’ve passed rigorous environmental performance standards.
- Funding for eco-friendly companies. Many green banks prioritize investments in companies driving positive social and environmental change, including those advancing electric vehicles, smart power grids, sustainable food and supply chains, and innovative renewable energy systems.
Banks operating with a greener framework often focus on their carbon footprint and environmental accountability. It’s easy to offset emissions here and there, but a long-term focus on sustainable initiatives and a commitment to measurable reductions can make all the difference. Banks that pursue such objectives are dedicated to shaping a healthier future for our planet.
Many aspects of green banking, such as the B Corp certification, not only apply to ecological values, but community and social ones as well. To achieve B Corp certification requires transparency and openness often lacking in larger banks or mega-corporations. Fairness and accountability are values that transcend ideological outlooks. While it’s important to make good financial decisions and investments, the best investment we can ever make is in a sustainable, healthy world.
How You’re Helping
Green banking can help you lower your carbon footprint as well. From reducing paper waste and pollution, to decreasing energy usage and unclean investments, when you choose to prioritize a green bank, you’re choosing to help lower your ecological impact. Green banking and its values help strengthen a community and its goals. It helps preserve the future for our children and keep our world clean.
At Iowa State Bank, we are dedicated to leading the way in sustainable banking. We were among the first local businesses to install solar panels on our headquarters, and we actively promote online banking to minimize paper waste. Each year, we provide financial support to numerous environmental nonprofits and encourage our team to volunteer their time with those organizations. By banking with us, you’re joining a legacy of green banking and making a positive impact on the planet.