Ethical Banks
Whether its screening bad investments or proactively funding social and environmental projects, these banks are at the forefront of ethical banking.
Not all banks have profit as their overriding objective. Several banks make it their mission to create social and environmental benefits, by carefully choosing which companies and projects they provide finance to.
We know all too well what an excessive focus on profit can lead to: beyond putting the needs of customers far too low down on the priority list, profit-focused behaviour leads to big banks financing everything from weapons manufacture to the most polluting fossil fuel projects on the planet, as well as causing asset bubbles and financial crises.
Thankfully, there are other approaches that are constantly gaining in success. Whether it’s by adopting an ethical policy that excludes lending money to environmentally or socially detrimental projects, or actively focusing on lending to companies and organisations that have a positive impact, a number of British banks do banking far better.
By moving your money to one of these banks, you can be sure that your savings are being used to create positive social or environmental impact, whilst also generating a healthy return in a safe place for your money. Find out more about the main examples of banks in this category below.
To find out more about our Scorecard, click here
Our top 3
1. Triodos
- MYM score : 92 / 100
Triodos Bank’s mission is to provide finance for organisations with a positive environmental, social or cultural impact. And it has already achieved a lot. The bank has so far financed 376 environmental projects across Europe…
2. Charity Bank
- MYM score : 92 / 100
At some point in our lives we will all benefit from the work of a charity, whether we’re visiting a museum, taking a stroll through a park or looking for care and support at a time of need…
3. The Co-operative Bank
- MYM score : 51 / 100
The Co-operative is often seen as ‘the original ethical bank’, and not without reason. It was the first UK bank to introduce an Ethical Policy back in 1992, which blocks investments in key ‘unethical’ areas such as weapons manufacture and…
