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Is your current account with one of the big five banks: Lloyds, Barclays, HSBC, RBS/NatWest or Santander? If so, you are helping to support the more than £66bn they have lent to companies around the world engaged in oil and gas extraction. But individuals- who are concerned about climate change can move their money to banks and financial institutions that offer fossil-free alternatives.

The scale of support provided by mainstream banks across the world for the coal, oil and gas industry is breathtaking – and it is British banks that are among the biggest lenders. An analysis of Europe’s 20 largest banks in 2014 found that Barclays had the highest volume of “high carbon” loans, as a proportion of its total lending, of any of the banks, while Lloyds had the highest amount invested in high-carbon equities.

“The five biggest banks in the UK are also the five biggest investors in climate change,” says campaign group MoveYourMoney.org.uk.

It also analysed how much the major banks are financing controversial fracking operations. HSBC provides services to Cuadrilla; Barclays handles banking for IGas Energy, the company with the most oil and gas exploration licences in the UK; while Lloyds loaned £10m to Alkane Energy.

But what can individuals concerned about climate change do? Are there fossil fuel-free alternatives? The good news is that switching is now easier than ever – and high-quality accounts are easily accessible.

MoveYourMoney has prepared an action plan. …….http://www.theguardian.com/environment/2015/may/16/how-to-divest-your-bank-account-of-fossil-fuels#comment-52338430