Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913


Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913 Fair Investment
Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913 Fair Investment

Co-op rejects £100million of unethical business

04 June 2010 / by Rachael Stiles

The Co-operative Bank has rejected £100million of business which it said did not meet its ethical criteria.

In its annual ethical audit report, released this week, The Co-operative said that as part of its ethos as an ethical bank, it turned down financing or banking services opportunities to companies which do not comply with their strict criteria, on human rights, arms trade, animal welfare, and environmental grounds.

The business that was turned down includes finance for missile equipment going to oppressive regimes, banking services for a cleaning product company that tests on animals, funding for gas and oil extraction, and the development of two coal mining operations in the UK.

Meanwhile, The Co-operative increased the amount of finance it provides to UK businesses by £800million, with an emphasis on lending to those companies which have an ethical or environmental stance.

Its ethical position and refusal to do business with firms which do not meet its criteria has distinguished The Co-operative from other banks, it says, and is helping to meet a growing demand from consumers for ethical products, such as ethical investment and green banking.

Tim Franklin, chief operating officer at The Co-operative Financial Services, said: “These figures clearly demonstrate that there has been no relaxation in the implementation of the bank’s Ethical Policy and we continue to turn business away that conflicts with our customers’ concerns.”

© Fair Investment Company Ltd

 



  Product Name ISA Option More Info
Ecclesiastical Amity Sterling Bond Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913 Fair Investment More Info >
Income Paid Quarterly.The Fund aims to achieve attractive income from investing in UK Government and good quality sterling fixed interest securities including UK government bonds, corporate bonds, preference shares, convertibles and other loan stock issued by companies which make a positive contribution to society and the environment through sustainable and socially responsible practices. The Fund seeks to avoid investment in certain areas such as companies which have a material involvement in alcohol, tobacco and weapon production, gambling and publication of violent or explicit materials. See latest fund factsheet for details.
Jupiter Ecology Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913 Fair Investment More Info >
The objective of the Fund is to achieve long-term capital appreciation together with a growing income consistent with a policy of protecting the environment. The Fund’s investment policy is to invest worldwide in companies which demonstrate a positive commitment to the long-term protection of the environment. See latest fund factsheet for details.
Environmental Income Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913 Fair Investment More Info >
Focuses on investing in socially responsible companies to an income and long-term capital growth prospects. Save 100% on Initial Charges.
Virgin Money Climate Change Fund Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913 Fair Investment More Info >
ISA Option Only. The Virgin Climate Change ISA invests in Companies (mainly in the UK & Europe) who aim to drive profit growth
Ecclesiastical Amity International Ethical Investment News Co Op Rejects £100million Of Unethical Business 18470913 Fair Investment More Info >
Income Paid Quarterly. The Fund aims to achieve long term capital appreciation and a reasonable level of income by investing principally in International companies. The Amity International Fund seeks to invest in a portfolio of companies which make a positive contribution to society and the environment through sustainable and socially responsible practices. The Fund seeks to avoid investment in certain areas such as companies which have a material involvement in alcohol, tobacco and weapon production, gambling and publication of violent or explicit materials. See latest fund factsheet for details.

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Written by Editorial Team