Could you go green with your banking?

The United Nations Climate Change Conference began in Copenhagen on Monday (December 7th) with key figures from around the world - 193 countries are taking part - hoping to agree a set of policies to help us tackle the environmental issues that have been so well reported.

There is also a People's Climate Summit taking place, where around 10,000 participants will discuss the issues that are important to them and then present their key recommendations to world leaders.

However, there is no need for you to be in Denmark to be able to make a difference and help to protect the environment, as by choosing to compare current accounts or simply contacting your existing bank you could be able to make a difference.

Simple measures

A few simple measures could reduce the amount of waste that you and your bank create.

Of course, there are more benefits to making changes than simply saving the environment; you could save yourself time and money too. Many of you may already be well familiar with internet banking and the benefits of being able to keep track of your finances from the comfort of your own home.

You can, of course, also keep track of your statement on a daily basis without the need to call in to your bank and ask for a print off or wait to receive one through the post. The financial benefits of this can be gained from being able to take a look at your outgoings 24/7 but the other benefit can be from the reduction of paper used.

Some of you may want to ask your bank to stop sending you paper statements and instead receive an electronic version. Another option is to ask your bank if they can reduce the number of letters and marketing that they send to you and ask them to call or email you whenever possible.

You may also want to consider if you need a cheque book or paying-in-book for your account, with technology possibly meaning that for many of you these go largely unused.

A HSBC Plus account offers customers new and old the potential to go green with their banking by making these small changes but it should be possible to make some change, if you choose, whichever bank you are with.

What are the banks doing?

Aside from the options provided by HSBC, many other banks will have green measures in place as the pressure mounts from the public to consider issues of waste and the environment.

The Co-operative bank lays out a particularly strong case for sustainable banking. The bank is doing more than simply providing its customers with the option to reduce waste paper and now it has a whole range of policies to attempt to ensure that its business remains as sustainable as possible.

Co-operative also has its own Ethical Policy in place laying out promises about who it will work with and making bold environmental statements such as "we will not finance any business whose core activity contributes to global climate change".

This policy for this year includes statements drawn from the views of its customers following an invitation for people to tell them what they were and were not happy to see their money financing.

The bank's Think credit card rewards you for making greener and more ethical choices in your day-to-day life.

Customers that use the card to purchase any of the products and services from its range of ethical partners receive a lower rate of just 7% per annum for six months 12.9% APR typical/variable. The bank also promises to donate to the RSPB's Indonesian Rainforest Project, meaning that the environment should see a benefit the more you use your card.

Time to make a change?

Whether you are firmly behind stopping climate change or simply want to make your banking more convenient, making a few changes could help the environment and save you money.