In the UK, we don’t generally like talking about money. We make positive choices to buy Fairtrade or organic, yet we’re often unaware of how our current account or electricity supplier might climate change or social inequality.
For decades, the mainstream banks in particular have benefitted from a lack of accountability, using the money we deposit and the interest we generate for investments that benefit their bottom line and keep shareholders happy.
We don’t choose where this money goes, the bank does. And while it’s sometimes used for good, such as investment in new technologies, it’s often used in areas we would never consciously support: fossil fuels, mining, tobacco and nuclear weapons. The banks don’t shout about this and we, typically, don’t ask. According to research from ethical bank Triodos in 2018,…
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The Simple Things (Digital) - 1 Issue, January 2020