ethical banking

[martin]

any info on this please.

all and any info gratefully received.

thankmartin

[Domitianus]

'Ethical' is such a vague term that it is an imposs question to answer in its current form. I know that a company has listed on the LSE offering Sharia compliant investment. Is that what you had in mind? Or do you mean a bank that doesn't invest in condom manufacturers? Or once that uses recycled paper? Or one that doesn't kill whales? I know of a couple of so-called ethical funds in the City that have invested in stuff that would amaze their shareholders.

[SeanMacGabhann]

martin

You seem to have a one-track mind on the forum about financial matters.... you must be interested in other things??

as for ethical banking, I agree with Dom. I would start with transparent banking as a wish - then I could have a look at the "ethics" behind some of the investments/decisions

[embellina]

I bank with Smile, who are part of the Co-Operative and they say this: We have a strict ethical policy, which means your money stays squeaky clean. We do work to help the environment such as sourcing 98% of our electricity from renewable sources. And, we work in our local communities. We don't do this at the expense of our rates though, so you can enjoy a warm feeling inside as we take care of your heart and your wallet.

There are also banks like Triodos, but they are more for saving.

[Peckhamgatecrasher]

There was a stand at the winter fair that I snaffled a useful shopping bag from. I recall they claimed to be ethical. Their website is www.activatemoney.com. Also think the Co-op goes in for it.

[SeanMacGabhann]

embellina

Smile/Co-op came to my mind as well, but a mission statement isn't the same as reality. I did applaud them when they told a Christian group to take their money elsewhere when they tried to close down Jerry Spinger: The Opera

But if you were a Christian who shared the group's views rather than the co-ops you might have a different view on "ethics"

http://www.christianvoice.org.uk/Press/press001.html

[embellina]

Agreed, Sean. Do they not abide by their mission statement, then? Maybe I'm too naive. I do feel it's better to go with a so-called ethical bank though as surely they do more than a high street bank built on the profits of slavery (and enslaving us to their bank charges and wicked ways!)