Bristol’s Triodos Bank leads UK ethical finance ranking

Bristol-based Triodos Bank has been named as a leader of a group of ‘vibrant ethical alternatives’ in the UK finance sector by an independent research body. Triodos topped Ethical Consumer’s rankings for several products, including its new personal current account, cash ISAs and ethical investment options.

Research shows that more than 70% of us think that banks need to be more transparent when it comes to disclosing where they lend money. Triodos leads the way as the only commercial bank in the UK to offer total transparency to savers and investors, publishing details of every organisation it lends to, which includes backing for Bristol organisations such as Better Food Company, Bristol Energy Coop and the Soil Association.

Ethical Consumer, a not-for-profit co-operative founded in 1989, has developed an ethical rating system based on research of more than 40,000 firms, brands and products. They publish a monthly magazine, with the most recent edition focusing in-depth on finance and money. Triodos was awarded two ‘Best Buy’ recommendations in the current account and savings rankings.

In contrast the major high street banks including Barclays, HSBC, Lloyds, Royal Bank of Scotland/NatWest and Santander fared poorly, with none achieving more than five out of 15. Ethical Consumer is calling on these banks to adopt clear policies to avoid lending to coal and tobacco sectors and to provide full transparency about who they lend to and why.

Triodos is a European bank with operations in six countries and has had its UK presence rooted in Bristol for over 20 years. They operate under a mission to use money to make positive change in society.

Triodos customer Kat Brealey, from Bristol, recognises the importance of this opportunity for social impact, saying that the Triodos Current Account was a chance for her to make a clear statement about the kind of world she wanted to live in: “For me, switching to a Triodos Current Account is just another piece of the puzzle in terms of being proactive about trying to live according to my values – so once the option became available, I wanted to take it. These days I’m keen that my money doesn’t just ‘not do bad,’ but actively does good – which is why the Triodos model appeals”.

Triodos also takes an innovative approach to investment. As well as offering socially responsible investing (SRI) funds via Stocks & Shares ISAs, earlier this year Triodos became the first British bank to launch its own crowdfunding platform.

The website is currently open to everyday investors that want to invest from as little as £250 in established charities or businesses that have been extensively screened by Triodos for social and environmental impact. Since it launched the site has already raised more than £11m for five renewable energy and community projects, including a number of projects and organisations based in the South West.

Visit: www.triodos.co.uk