Choose your Bank Wisely

In my last blog post I have written about the power of money and the responsibilities involved.

Eco- and ethical banks are becoming increasingly popular. Unfortunately, mainly in the private sector, which is definitely a very good development. However, I see great potential when this transferred to a business context.

I would like to remind you of the example of replacing a coffee machine and the associated savings on capsules from my first blog entry.

Eco or ethical bank institutes have set themselves guidelines (which can vary in severity) about what they do with their customers’ money. For example, most of them do not invest in arm dealerships, genetic modification and don’t slow down the energy transition etc.

 
 
 
Eco and ethical bank institutes have set themselves guidelines. For example, most of them do not invest in arm dealerships, genetic modification and don’t slow down the energy transition.
 
 

Ethical banks mostly do not invest in businesses related to genetic engineering, animal testing, child labor or human rights violations.

If you have already changed your bank privately or at least got an additional account for your savings with an eco or ethical bank, this is fantastic and, in my opinion, very progressive. But just imagine what happens if companies which sometimes have a lot of money would do that too.

The dimensions are probably unimaginable. If I imagine how many companies indirectly support the arms industry or companies that violate human rights, for example, because they have their capital at a bank that has no sustainable principles in their investment strategy and is only looking for profit without losses, I am getting desperate.

So if you work in a company where you have the opportunity to choose your house bank, please think carefully about who you want to make the money available to.

You can find a small summary at such banks here.

Sources:

https://www.greenchoices.org/work-money/money/banking 

https://utopia.de/ratgeber/alternative-gruene-bank/ 

https://madamemoneypenny.de/gruenes-geld-nachhaltig-investieren/

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