B2 – Upper Intermediate
We keep our money in the bank. The bank uses our money to invest in or fund other businesses.
Now, the question is, do you have any idea as to what your money is being used for or are you just very green about it?
Listen to this audio and read the transcript about how banks invest our money to fund other business, at times, even dirty practices and find out how our money can help save the environment.
Be ready to answer the questions that follow.
https://www.bbc.co.uk/learningenglish/english/features/6-minute-english_2023/ep-231019
Vocabulary Questions:
- What does “green” mean in this context, “No, I don’t. I have to admit I’m very green about money, and I don’t mean green as in environmentally friendly.”? Give 2 synonyms and use “green” in this context in your own sentence.
- What does “to jump on the bandwagon” mean, “It was always viewed, I think, as a niche thing, something for those that had very clear views on the world, social views. That’s now broadened hugely, and there’s great concern about greenwashing so who’s jumping on the bandwagon? – that’s a huge concern amongst investors.”? Use this expression in your own sentence.
- What does ”to put the spotlight on someone/something” mean, ”This in turn puts the spotlight on how pension funds are being used, for example whether they support large oil corporations or renewable energy companies.”? Use this idiom in a sentence.
Discussion Questions:
- What might be reasons public interest in ethical banks has ballooned in recent years?
- Are you aware about where your bank invest your money in? Talk about it.
- How common are ethical banks in your country? Why do you think this is the case?
- What are your thoughts on Richard Curtis’ campaign “Make My Money Matter” which is essentially doing one simple thing, moving your pension to an environmentally sustainable fund? Would you consider doing such financial move? Why or why not?
- They say that the most effective way to fight climate change is to move your pension into ethical investments. Share your opinion on this.
- Share your thoughts on this, “Luckily, the customer is always right, and by managing our money ethically, we can all help a little.”.
2 replies on “How Green Is Your Money”
1.
In most cases, this is due to greenwashing by banks and customers. Everyone wants to be part of the solution, not the problem.
2.
This doesn’t worry me, I think banks are a different type of business. They lend you money to get more money back, they invest in the kinds of things that will get you more money back.
3.
In the last years are more popular and this is because of everyone want to be part of the solution. Finally, you must control the use of your savings by these companies but not always is possible.
4.
In my opinion there will always be people telling you what you should do, what you should think. And I’m a little tired of these types of evangelists. They need to mind their own business, Richard Curtis is a very rich person and he can make changes but he needs to initiate them.
5.
No, I’m not at that moment. A few years ago I was thinking about moving my money to a company that provides loans to small businesses but finally I decided to avoid the risk in my investments.
6.
I think they are completely wrong, our small savings are not going to change anything. Only large countries and companies can make these changes.
7.
The customer is not always right, customers often prefer bad companies and usually do not choose based on ethics. The large food holding companies own the entire market, you cannot choose, most of the products are owned by three companies. This is the illusion of choosing
You did nice work in expressing your thoughts about ethical banks by writing your answers here.
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Happy writing!