Ethical Banking & Investment

This is a difficult area, since there are very few organisations with completely ethical policies. However, interest in ethical banking and investment is growing very quickly, and several organisations are making moves in the right direction.

The following information has been collected from Vegan Society members or is based on research by the Ethical Consumer Research Association and doesn’t represent any endorsement or recommendation by the Vegan Society.

We’re always on the look out for more information, so please let us know if you come across any ethical/vegan-friendly banks, building societies or investment groups.

GUIDES

The Ethical Consumer  http://www.ethicalconsumer.org

Unit 21, 41 Old Birley St, Manchester M15 5RF

Tel: 0161 226 2929

The Ethical Consumer has a free ethical buyer guide to ‘Money & Investments’ (covering internet banking, cash ISAs, ethical investment, insurance and mortgages) and a 2009 research report on current accounts and savings accounts.

BANKS AND BUILDING SOCIETIES        

The following were the highest scoring organisations in the Ethical Consumer’s 2009 report on current and savings accounts:

Banks

Triodos, Charity Bank, Northern Rock, Co-operative, Smile (Triodos and Charity Bank do not offer current accounts)

Building Societies

Ecology building society, Norwich and Peterborough, Coventry, Cumberland, Leeds, Nationwide

(all except Ecology and Leeds offer current accounts)

Co-operative Bank and Smile      http://www.co-operativebank.co.uk  08457 212 212

http://www.smile.co.uk

The Co-operative Bank is the only high street bank with an extensive ethical policy, shared by its sister company, internet bank Smile.  Both banks only received a mid score from the Ethical Consumer (mainly due to the nature of the products sold in Co-operative supermarkets) - however, they both received the fourth highest score of all the banks included in the report.

Triodos    http://www.triodos.co.uk

Brunel House, 11 The Promenade, Clifton, Bristol BS8 3NN   

Tel: 0117 973 9339 or 0500 008 720

32 Annandale Street Lane, Edinburgh EH4 4LS   

Tel: 0131 557 5528

Triodos say that they only invest in ethical businesses and are completely transparent about which companies they invest in.  They describe themselves as, “genuinely transparent and only lending to and investing in organisations that benefit people and the environment”.

Charity Bank    http://www.charitybank.org

194 High Street, Tonbridge, Kent TN9 1BE

Tel: 01732 774040

100% of depositors’ money is invested in supporting charities and communities.  Charity Bank offer affordable loans only to organisations with a social mission.

Ecology Building Society    http://www.ecologybuildingsociety.co.uk

7, Belton Rd, Silsden, Keighley, West Yorkshire BD20 0EE

Tel: 0845 674 5566

Ecology say that they, “only lend on properties and projects that minimise environmental impact or which help promote sustainable communities and lifestyles”.  They offer savings accounts and mortgages.

INVESTMENT

Financial Advisers

Barchester Green Investment  http://www.barchestergreen.co.uk

Barchester House, 45/49 Catherine St, Salisbury, Wilts SP1 2DH

Tel: 0800 328 6818

Specialists in ethical investment and sustainable financial planning advice.

The Ethical Investment Association  http://www.ethicalinvestment.org.uk/index.html

Holywell Centre, Phipp Street, London EC2A 4PS

The Ethical Investment Association represents financial advisers with specialist expertise in matching the values of individuals and organisations with their financial requirements.

The Ethical Investment Co-operative  http://www.ethicalmoney.org

0845 458 3127 or 01748 822402

A collection of independent financial advisers who give advice for free (they receive commission from certain banks etc.). A list of their offices is available from the above address.

Ethical Investors Group  http://www.ethicalinvestors.co.uk

Montpellier House, 47 Rodney Road, Cheltenham GL50 1HX

Tel: 01242 539848

EIG can help with ethical investments. Also has the Ethical Fund Directory which rates funds according to Environment, Animals and Social criteria.

Ethical Screening

The Ethical Investment Research Service http://www.eiris.org

80-84 Bondway, London SW8 1SF

Tel: 020 7840 5700

Offer a screening service on a wide range of ethical issues for private investors.

Investment Funds

Aegon Asset Management http://www.aegon.com

AEGON House, Edinburgh Park, Edinburgh EH12 9XX

Tel: 0870 600 0337

Claim to offer socially responsible investment funds.

Please note: If an ethical fund is part of a larger institution you may wish to be careful that the larger institution does not invest in unacceptable companies.

INSURANCE

Animal Friends Insurance (AFI) http://www.animalfriends.org.uk 

Minton House, London Road, Amesbury, Wiltshire SP4 7RT

Tel: 0844 55 70 300

Not-for-profit pet insurance provider.  100% of net profits donated to animal charities.

Naturesave Policies Ltd  http://www.naturesave.co.uk 

58 Fore Street, Totnes TQ9 5RU
Tel: 01803 864 390

Green provider of various insurance products for individuals, businesses and charities and non-profit organisations.

The Environment Transport Association (ETA)  http://www.eta.co.uk

68 High Street, Weybridge, Surrey KT13 8RS

Tel: 0845 389 1010

Describes itself as an ethical and green provider of motor, cycle, travel and home insurance and breakdown cover.

The Co-operative Insurance    http://www.co-operativeinsurance.co.uk 

08457 46 46 46

Car, business, home, life & health and travel insurance and breakdown cover.  The world's first insurance company to launch a customer-led “Ethical Engagement Policy”.