2024: HXR members contribute to Tipping Point’s ‘Bank Better’ Network’s fossil free banking campaigns

Posted by: Hils - Posted on:

Over recent months, HXR members and health professionals from other climate organisations have been instrumental in a series of petitions, letters and campaigns asking health organisations to disinvest from fossil fuels and move their bank accounts and investments to ethical financial organisations. 

UK banks are compounding the climate crisis, by funnelling billions of pounds into climate-damaging projects. In 2022 alone, the five big UK high street banks (Barclays, HSBC, Santander, Lloyds, and NatWest) provided £37 billion of financial support to fossil fuel companies, at a time when we urgently have to burn less fossil fuel rather than opening new fossil fuel sites. Fossil fuel companies could not
fund big infrastructure projects using their own capital alone so these financial services are essential to their business models.

Current campaigns with our Royal Colleges include:

  • Royal College of General Practitioners – over 164 people, including 117 RCGP Members and Fellows have signed an open letter asking RCGP to move away from Barclays
  • Royal College of Obstetricians & Gynaecologists – Dozens of obstetricians and gynaecologists have signed their open letter and the college is now reviewing its banking situation.
  • Royal College of Occupational Therapists – a letter writing campaign has recently started and is going strong with over 50 letters having been written to the RCOT!
  • Royal College of Psychiatrists – Psych Declares have tirelessly pushed their college for over a year now to close their Barclays account. They petitioned, did outreach at conferences and events, mobilised college faculties and met with the college over and over again. RCPsych is now proactively looking into alternative banking options!

Other campaigns include

  • British Medical Association – We submitted motions in five different regions asking the BMA to stop banking with NatWest and for the British Medical Journal to stop advertising for Barclays and other fossil fuel facilitators. This proposal will now be discussed at their next Annual Representative Meeting.
  • GP Surgeries – Over a dozen GP surgeries have expressed an interest in switching to ethical banking providers and we’re now waiting for the first GPs to finish their transition process. 

Congratulations to all the health workers who have helped to achieve this incredible progress! 

If you would like to contribute to these actions please contact bankbetter@tippingpointuk.org or directly join our Health & Banks WhatsApp group chat to stay in the loop or find out how to pressure your health organisation.

Additional information:

The Hidden Relationship – Make My Money Matter

Bank Better GP Surgery Bank Switching Guide

Bank Better Campaign Handbook