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Ethical banks
ScarletBea
Posts: 2,921 Forumite
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
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
3
Comments
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Triodos also offer an ethical S&S ISA, and operate a well run crowdfunding site for ethical/sustainable/social causes.2
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