Changing how we think about money

Written by Lisa Stanley Mann on 24th April 2018

Ahead of its annual meeting tomorrow on 25 April, Triodos Bank is asking people to think whether it is really possible to change finance, while financing change.

The bank’s recently published annual results for 2017 show it does seem possible.

The UK arm of the Dutch-owned bank delivered a record year of lending with more than £180 million new loans made to social, environmental and cultural projects across the UK.

And customer numbers in the UK have grown almost 10 per cent.

In 2017, Triodos launched its long awaited current account (read why you should consider #Upbanking here). It also recently launched its own crowdfunding platform.

However, research from the bank, which recently gained a Good Egg mark, reveals many UK consumers want to help to change finance, or indeed simply finance change, but they just don’t know where to go. 28 per cent of people in a survey of more than 4,000 UK adults say they are sceptical how ethical or sustainable companies claiming to be so actually are, and 27 per cent don’t know which companies have an ethical stance or not. 

Good With Money launched the Good Egg for this reason, to help grow the market for ethical and sustainable financial services.

Separate figures from the bank reveal that transparency in banking – knowing what your bank does with the money you entrust to it – is the third most desired factor, after good customer service and a good rate of return.

If you’re after further detail on exactly how transparent Triodos likes to be, check out its impact report, which details the bank’s impact across Europe, reported in line with the Sustainable Development Goals.


The Good With Money pick of guilt-free current accounts is here

Read about the best UK impact funds in the Good Investment Review, here


 

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