Triodos Bank tips for sustainable banking in 2011
With more than a third (37%) of people last year making a resolution to be more green or ethical, sustainable and ethical bank Triodos today offers a selection of tips on banking more sustainably in 2011.
1. Resolve to make your money work for positive change
Do you know how your bank is using your money once it's deposited? According to research, since the financial crisis two thirds (66%) of people now want to know more about how their money is being used and 92% want their bank to have proper ethical principles. Triodos Bank is the only bank to tell all its savers and depositors exactly how their money is being used and the positive impacts it can deliver. On its website knowwhereyourmoneygoes.co.uk Triodos has listed every single organisation borrowing money to achieve a more positive social or environmental return. The Triodos Online Cash ISA currently pays 2.00% (2.01% AER).
2. Don't just give to charity in 2011- invest in it
Giving to charity is an admirable resolution, but there are other ways to give even more to charities. Save in one of Triodos Bank's range of Charity Saver accounts and Triodos will donate 0.25% of the average annual balance directly to your chosen charity.. Many of these charities are also customers of Triodos Bank so the money invested has the potential to achieve even more. And, as the remainder of the capital deposited goes towards funding other businesses Triodos lends to, the money saved can work even harder.
3. Teach your children or grandchildren how money can be used for good
If you're a parent or grandparent you may want to give your child or grandchild a financial start in life and open a children's savings account for them. Many financial providers offer savings products for children, but Triodos Bank's Young Saver account allows children to start saving for their future in a positive and ethical way. Through knowwhereyourmoneygoes.co.uk, children can see and experience how their money is being used; it offers a clear connection between a child's savings and how they make a difference.
4. Make a resolution to save the planet
Increasing numbers of people are realising the impacts of climate change and the need to ensure a more sustainable future. Savers in Triodos' range of Climate Change Bonds can be assured that their money is only being used to help organisations that share their ethical and environmental principles. Saving £2,679 in one of the Climate Change Bonds will help Triodos Bank to finance the creation of enough renewable energy for one average UK home for the next 20 years.
Huw Davies, head of personal banking at Triodos, commented: "Recent years have seen a rise in ethical consumerism but as a nation we are only just beginning to consider how we can use our money more consciously too. With so many well-intentioned new year's resolutions now is the time not only to sort out your finances but also to consider ethics.
"Ethical and sustainable banking offers an alternative, so that customers can know their money is generating a decent return as well as helping deliver a more positive impact on society and the environment. This actively conscious use of money is essential to ensure our sustainable future and our planet's, both for 2011 and beyond."