Friday, 22 June 2012

Ethical banking

The money in your bank account funds projects and companies. Some of those might be things you disagree with, such as a arms sales, or tobacco. Very few banks are up-front about what they do with your money. An exception is Triodos Bank - on their site you can view all the projects they fund on a map, and entering your postcode shows those local to you.

The banks you use have an impact on the world, for good or bad. If you are interested in making sure your money is used ethically then there is some excellent information here. Ethical consumer also give a summary of current and savings accounts on their site (you need to subscribe to see the full reports, but EC are an excellent source of information and well worth joining).


Sam Oakley said...

Triodos' facility is brilliant and they are totally to be commended for their transparency and forward thinking in this.

However, it also had an unfortunate side-effect of making me feel frustrated at how you can never really find the perfect solution. As a veggie/vegan household, it was a bit grim to see one of our closest local projects is an organic beef/lamb/pork farm. I am focussing on the positives of it being organic & local! Triodos are still light years better than the alternatives...

CIN said...

I know what you mean. It does make me wonder, though, what other banks are funding that are just as bad (or worse) but hidden from you. The good thing with an organisation being open is that you can then contact them and state your opinion. As soon as there is secrecy (e.g. about animal testing) then it makes it hard to even object, because you're not given the opportunity to. A good example of how governments don't really want any form of real democracy, they only want to go so far as to have a system whereby they can claim it justifies their power, but without going so far as to empower people to object to their decisions. Sorry, I've gone off-topic there!