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Amalgamated Bank featured in The New Yorker as a bank to move your money to in order to cut your emissions
May 23, 2022
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Amalgamated Bank featured in The New Yorker as a bank to move your money to in order to cut your emissions

The article titled "Could Google's Carbon Emissions Have Effectively Doubled Overnight?" was originally published in The New Yorker on May 20, 2022 by Bill McKibben

"New York City’s Amalgamated Bank, for instance, having committed to cutting its ties with the oil industry in 2016, is now among the nation’s few “fossil-free” banks. Although its loan portfolio still produces carbon (stemming from furnaces and appliances in the homes for which it provides mortgages, for example), that number is falling. So an individual could cut her carbon emissions by moving her accounts to Amalgamated’s vaults. But the bank’s total assets are about six billion dollars. Meanwhile, Apple generated more than twenty-eight billion dollars in the first quarter of this year alone. Taken together, the cash on hand of the four biggest tech companies would make them the fifth-largest bank in the country. If they want to bank green, they’re going to have to green their banks."

To read the the full article click here.