24th April 2025
Domestic animals also encompasses life stock – cows, sheep, pigs, hens etc. When we see prepared dairy produce or meat on sale in shops or restaurants, it is easy to forget or ignore the welfare of the animal that has provided this food. Ethical Consumer regularly produces research on this topic so that we as consumers can make informed choices.
Reshaping how we can talk positively about the climate crisis – part 3: Finance
April 2025
How can we talk about the climate crisis in a way that sounds encouraging?
The climate crisis is an existential threat which is certainly not good news. Its causes and impact are diverse and numerous such that it is hard to pin down ‘This is the cause’ or ‘This is the solution’. It is hard to quantify ‘This is how it will effect you’ and ‘This will be the time table.’
All this makes it difficult to find a way of talking to people about the crisis and how we might respond.
So here are some thoughts that might help.
Finance for a Better Future
We are told that one of the most effective ways of tackling climate change is to redirect the money that funds climate damaging industries such as oil and gas production . Make My Money has campaigned on this issue with both humour (short films and ) and straightforward facts and graphics:
“All of these banks refuse to stop funnelling money to the companies pumping new fossil fuels.
They each talk about climate change, but we need less talk and more action on what really matters:
* Immediately stop providing money to new clients who are involved in expanding fossil fuel operations
* End the flow of new money to existing fossil fuel clients who won’t stop the expansion of fossil fuel operations and haven’t published credible plans aligned to a 1.5 degree global warming limit
* Set out a clear timeline for cutting ties with existing clients that continue to expand fossil fuel operations”
But despite the ease with which we can switch banks, many of us haven’t bothered to take this simple action. Perhaps because there is no immediately visible result. Stop driving to the shops and you straight away see the benefit of not having to refuel your car. Switch your bank and there is no noticeable reduction in oil production, no financial gain. And anyway aren’t high street customers mere minnows in an ocean of big financial organisations?
Is it also that with banking we see ourselves as customers buying a service, not as patrons providing banks with money and probity? Banks like – need – to be seen as upright, trustworthy and moral institutions: people with whom you can safely entrust your money. That is part of the reason that banks will sponsor sporting and cultural events – it improves their perceived reputation as ‘responsible’ companies. And that is why groups have campaigned against such greenwashing bank relationships eg Barclays and Wimbledon Lawn Tennis/ Live Nation music festivals/ National Trust/ Sadler’s Wells.
Turning the situation round, should we be actively expecting our bank – the bank we support with our money and our patronage – to demonstrate how it is using its financial clout to create better world? By way of example let’s look at Triodos. Triodos scored the top mark in a recent survey by Ethical Consumer, scoring 96 out of a possible 100 points. The big five high street banks – Lloyds, HSBC, NatWest, Santander and Barclays scored 6 or less. (1)
Triodos does not provide finance for fossil fuels, nor fast fashion, nor weapons and warfare, nor gambling. Triodos does provide finance for renewable energy, nature restoration, healthcare, art and culture: “We believe it’s not enough to avoid funding harmful practices, so we actively support those building a better tomorrow. Our commitment goes beyond avoiding harmful investments. We proactively seek out and support initiatives that contribute to a sustainable future, ensuring that every loan and investment aligns with our mission.” (2)
For example, “Ember, the UK’s first all-electric intercity bus operator, has increased its fleet of zero emission coaches with a £5.6m loan from Triodos Bank UK. The electric coach operator, based in Scotland, has a fleet of vehicles designed specifically for intercity travel. These buses are zero-emission, contributing to environmental sustainability by reducing carbon footprints and improving urban air quality.” (3)
Triodos also finances “Copeland Park … a social, cultural and creative hub in Peckham, an area of London that is becoming increasingly known as a haven for artistic individuals and collectives. At Copeland Park, traditional warehouses and industrial buildings have been transformed into workspace for a number of creative businesses. The historic Bussey Building, for example, now provides a home for artists’ studios, theatre groups, live music venues, fitness studios and faith groups – along with incomparable views of London.”
In Wandsworth “Beyond Autism seeks to improve the education and health of children diagnosed with autism and/or related communication disorders. A loan from Triodos Bank allowed Beyond Autism to purchase their facility.”
On Mull “NWMCWC was set up by the local community in 2006 to purchase and manage the Langamull and West Ardhu forests in North West Mull. With 2 Triodos loans, we were able to help with a variety of projects, including helping with the construction of a woodshed for timber felled at the woodland.”
And in Wales “NWMCWC was set up by the local community in 2006 to purchase and manage the Langamull and West Ardhu forests in North West Mull. With 2 Triodos loans, we were able to help with a variety of projects, including helping with the construction of a woodshed for timber felled at the woodland.” (4)
In addition Triodos does not use its profits to pay bonuses to its staff. Rather “Triodos believe all our workers should be paid fairly and our focus should be on impact – for the whole Triodos community.” (2)
Choosing – switching to – an ethical banking really does enable our money to create a better future, and can do so in a clearly transparent way, such that we can be proud of what our patronage can achieve.
The following websites help individuals switch to ethical banks:-
(1) https://www.ethicalconsumer.org/money-finance/shopping-guide/current-accounts
NB the other banks recommended in the Ethical Consumer report included Coop Bank/ Smile, Cumberland Building Society, and Nationwide, all scoring 70 or more.
(2) https://www.triodos.co.uk/your-money-has-power
(3) https://www.triodos.co.uk/articles/2024/powering-sustainable-travel-with-ember
17th July 2024
Ethical
The things we buy and use should be ethically produced – that those who produce the raw materials, manufacture, transport and sell the product be fairly paid, have a safe and harmonious working environment, and that at all stages the due amount of taxes are paid.
The Green Tau 