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
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.