Workshop: Divesting From the Fossil Fuel Industry

On Sunday, September 25, Morristown United Methodist Church will welcome Michael Richardson from the Rivers & Mountains GreenFaith Circle (NY) to lead an interactive conversation on how to move your personal finances away from funding fossil fuel extraction, production and distribution… and instead see your deposits, premiums and investments used to fund local businesses and farms, affordable housing, and development of regenerative clean energy. The program, sponsored by MUMC’s EarthAware ministry, will begin at 11:45am in Fellowship Hall. This program is open to the community. A light lunch will be served.

In this workshop, Michael will discuss:

#1 Personal Banking: If you bank with Chase, Citi, Wells Fargo, Bank of America, TD Bank, U.S. Bank or other major Wall Street banks, your money is being used to fund climate destruction. There are many local options that use your deposits to fund local ventures and not for fossil fuel projects. Learn how to find such regional and local community banks and credit unions.

#2 Credit Cards: If you have credit cards with Chase, Citi, Bank of America, Wells Fargo, Capital One, or Credit One, your money is being used to fund an economy dependent on fossil fuel rather than transitioning to renewable sources. Learn how to find a truly “green” credit card.

#3 Home & Auto Insurance: If you insure your home and/or auto with Liberty Mutual, Travelers, All-State, GEICO, State Farm or other major insurance companies, then your money is being used to both insure and invest in the excavation, production and distribution of oil, tar sands, coal and gas. Learn how to find small insurance companies – some based locally – that do not insure nor invest in fossil fuel projects.

#4 Retirement Investments: Most financial institutions are complicit in the climate crisis. Wall Street banks provide hundreds of billions of dollars in loans to the fossil fuel industry. Asset managers – companies that people pay to manage and invest their money – are the world’s largest investors in fossil fuels. Learn about the funds you are investing in and the alternatives… and how to find an environmentally conscious financial advisor.