Do you know how your bank is using your money?
Your bank or pension provider makes money by lending or investing funds in other companies and organisations. And the money in your bank account or pension is part of those funds.
Bevis Watts, CEO of Triodos Bank UK, told us that pretty much 5% of every pension fund that tracks the stock market is invested in British American tobacco. And it doesn’t stop there.
Banks and pension funds are investing in fossil fuels, arms, palm oil production and other industries that may not align with your values.
It’s not always easy to find out how your money is being used. A recent analysis of the websites from the biggest UK banks found that they present ‘a confusing and conflicting account of their sustainability initiatives to customers’.
Luckily, Triodos Bank UK is different.
‘We’re regarded as pioneers for the last 40 years in sustainable finance. What that means is that we only use people’s money for things that can demonstrate positive environmental, social or cultural benefits.’
– Bevis Watts, CEO Triodos Bank UK
Triodos uses their funds to invest in sectors like renewable energy and organic farming, education and day nurseries, microfinance and fair trade producers.
Learn more about Triodos Bank UK in our profile Banking to Make the World a Better Place