National ethical investment week 8-14 November 2009
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This year I set myself a New Years resolution. It was to swap my bank from one of the four main High Street banks to an ethical bank. I was alarmed to discover that my bank was supporting things I did not support myself such as military arms, animal testing and poor human rights.
Switching to an Ethical Provider means you can make a huge difference to the world with little inconvenience to yourself!
Many banks invest your money in things which you might not support yourself, such as funding arms, exploiting people or supporting organisations which harm the environment.[amazon-product align=”right” small=”1″]1408101122[/amazon-product]
The money that you deposit in your current or savings account doesn’t just sit there untouched until you require it again – your bank lends it on to others at interest. Banks don’t just lend money to current account-holding customers either, they lend to large corporations, public institutions and even governments.
As Your Ethical Money remind us; if you avoid a certain product on a supermarket shelf because you know it has been tested on animals you should consider asking your bank who it lends to – as it might just be helping to finance such testing. If you have switched to a green energy provider you might want to consider where your ISA is being invested – it may be in fossil fuels. If you don’t buy from a certain store because you suspect their clothes were produced in a sweat shop, consider who insures their premises or owns shares in their company.
If you’re new to the idea of ethical investment, why not use National Ethical Investment week as an excuse to make a green switch? You’ll find lots of useful information on their website. Check out Co-Operative or Smile for current accounts and Triodos for savings accounts in the UK.
What about you – do you invest ethically?
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