Spend good, do good

This comment article is written by environmental campaigner Roger James

Do you want to make your money count? Does sustainable and ethical investment really work? And how can you invest according to your environmental, ethical and social values to make a positive difference and a good financial return?

Good Money Week, previously National Ethical Investment Week, is a major opportunity to answer these questions. The week is launched next Sunday with a brand new website featuring news, events and ways to get involved in the campaign to raise awareness of, and build the market for, sustainable, responsible and ethical investment and finance.

Bristol is a leader in this field from the days of Methodist John Wesley when his sermon ‘The Use of Money’ outlined his basic tenets of social investing – not to harm your neighbour through your business practices. The Quakers were among the first to advocate divesting in the slave trade.

An Ethex report in 2013 found that Bristol is the top place in the UK outside London for ‘positive’ investing – investments that offer a return while doing good. Bristol hosts many leaders in the ethical finance sector. These include the Bristol Credit Union,  the Bristol Pound, Christian Aid, Ethex, Fairtrade South West, Family Wealth Mediation, Shared Interest, Stewart Investment Planning, Triodos Bank and The Schumacher Institute.

There are many strands of ethical finance: where you bank and where you invest as well as what you buy can all make a positive difference to people and the planet.

Responsible investment has in the past mistakenly been perceived as a niche area but its influence is growing. The just released The European Sustainable Investment Forum’s ‘Sustainable and Responsible Investment Study’ shows that all responsible investment strategies have grown at double digit rates between 2011 and 2013, faster than the broad European investment market.

Ethex found that there are now more than one million ‘positive’ savings and investments totalling £1.6billion. This week has also seen another type of success as the University of Glasgow became the first university in the UK (and Europe) to divest from the fossil fuel industry. Glasgow University Court voted unanimously to divest the university’s £129million endowment fund from fossil fuels. Naomi Klein, the Canadian author and fossil fuel activist stated that this divestment was a key step forward in tackling climate change.

Good Money Week is promoted by The UK Sustainable Investment and Finance Association (UKSIF), the membership association for sustainable and responsible financial services. They promote responsible investment and other forms of finance that support sustainable economic development, enhance quality of life and safeguard the environment.

UKSIF will be co-ordinating a range of activities including a call to Government to produce a Sustainable Spending Scorecard, social media campaigns, a ‘write to your MP’ action and a hustings and reception on the Terrace Pavilion of the Houses of Parliament

This special week is a great opportunity to become part of this increasingly influential and vital movement which can create real, positive, long-lasting change. The UK has a very large financial services sector so it is vital that we seek to influence this major sector of the economy to be more ethical and sustainable. There is a lot of help from experts like the Ethical Investment Association (EIA) and Good Money Week resources to help us all.

ShareAction is a groundbreaking charity that promotes Responsible Investment by pension funds and fund managers. The EIRIS Foundation and Ethical Investment Research Services is a great resource and a leading global provider of independent research into the environmental, social, governance (ESG) and ethical performance of companies.

Corporate Watch research and campaign on finance and corporate issues. If you want to know a lot about a corporate you can sign up to Corporate Critic who give a comprehensive check on ethical or environmental performance. You can keep up with all the latest info on Twitter via @goodmoneyweek #goodmoneyweek #mymoneymatters