Ethical options
Ethical Consumer is an independent organisation which reports on the ethical integrity of the policies, products and services of the different companies you buy from or invest your money in. We recommend checking out their on-line reports on banks, building societies and other lenders, as well as product reports covering trainers, food and clothing at www.ethicalconsumer.org.
Want to compare different bank accounts, savings accounts, and ISAs? Visit the Financial Services Authority website www.fsa.gov.uk/tables for a comparison of various providers.
According to Ethical Consumer’s May/June 04 Buyer’s Guide for Banks and Building Societies, the Co-operative Bank and it’s internet bank Smile are the only high street banks offering a credible ethical policy stating where your money will go. Visit www.ethicalconsumer.org for more info and click here* to see how your bank scored.
*(The larger the circles, the more negative reports in this area. Ratings are affected by activities of company as a whole e.g. Co-op bank is rated as part of the Co-op group)
The Co-operative Bank
T: 0845 7212212 www.co-operativebank.co.uk
In consultation with it’s customers, the Co-op Bank has developed a credible ethical policy which determines what
ethical standards govern the types of businesses the bank will and will not offer to invest your money in. Companies are screened for their involvement or impact on human rights, the arms trade, corporate responsibility and global trade, genetic modification, social enterprise, ecological impact and animal welfare.
Smile
T: 0870 8432265 www.smile.co.uk
Smile is an ethical internet bank which is part of the Co-operative bank group. They share the same strict ethical policy giving you the opportunity to invest your money for good and for positive change.
Triodos Bank
T: 0500 008720 www.triodos.co.uk
Triodos Bank only lends to organisations
which create real social, environmental and cultural value – charities, social businesses, community projects and environmental initiatives. Check out their Fairtrade Savers Account.
Ethical Investments
Deciding who to invest your money with is a big decision. Chat to a professional before you take the plunge.
Ethical Investment Services (EIRIS)
T: 020 7405700 www.eiris.org
EIRIS is a charity set up in 1983 with the help of a group of churches and charities which all had investments, and strong convictions of what they thought was right and wrong. They needed a research organisation to help them put their principles into practice when making investment decisions.
EIRIS Services Ltd, a subsidiary company of EIRIS, undertakes most of the research for clients and provides commercial services.
Ethical insurance, mortgages and pensions
Why not consider an ethical insurance policy for your first car, home, next holiday, or accident insurance to cover you for extreme sports! Some of you may be starting to think about buying your first home. Your choice of mortgage lender is as important as your bank account when it comes to investing your money ethically. Starting a pension as soon as you are receiving a regular income is a responsible part of handling your money wisely. Check out your options in Ethical Consumer’s Best Buy Report at www.ethicalconsumer.org and download the Lift the Label Ethical Lifestyle Directory for a list of providers and their contact details.
Step three: talk to God