📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Ethical banks

Options
ScarletBea
ScarletBea Posts: 2,921 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
edited 12 December 2022 at 2:24PM in Savings & investments
If anyone's interested in this aspect of the financial sector, a report has just been published.

https://www.theguardian.com/money/2022/dec/12/us-banks-named-as-being-among-least-ethical-uk-operators

"Goldman Sachs and JPMorgan Chase both scored poorly due to their records on the environment, human rights and paying tax"
"
Triodos Bank, which describes itself as “one of the world’s most sustainable banks”, has been awarded a “best buy” for current and savings accounts"
"
Only Triodos, Co-op, Nationwide and Cumberland building society did not lend to problematic areas, according to the study."
"
Goldman Sachs’s Marcus savings account, which has attracted significant interest from UK consumers on the back of attractive rates, also emerged with a poor Ethiscore. Of the savings accounts that were rated, it was one of 22 which received the middle or worst ranking for the likely use of tax avoidance strategies. “The biggest banks all fail miserably on tax,” claims the report. Three financial institutions – Charity Bank, Ecology building society and Triodos – were awarded best buy status in this category."

This is the entity which ran the study, but I think you can only read it by subscribing:
https://www.ethicalconsumer.org/money-finance/shopping-guide/ethical-savings-accounts
Being brave is going after your dreams head on

Comments

  • Albermarle
    Albermarle Posts: 27,924 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Triodos also offer an ethical S&S ISA, and operate a well run crowdfunding site for ethical/sustainable/social causes.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.