The results for the world's most ethical companies are in. . . The story of banking can change. And it starts with banks considering social and environmental values as core to their business.
For the second year running Charity Bank has been listed in the top 10 ethical companies in the world, according to research carried out by The Good Shopping Guide in 2015. Other companies to make the top ten include retailer of natural and beauty products Neal’s Yard and renewable energy company Good Energy.
How does it work?
The Good Shopping Guide’s researchers monitor the ethics of companies across sectors from banking to bottled water. They rate banks on their environmental and social performance, “penalising banks which have invested in projects that have caused outrage among environmental and human rights campaigners.” The results are tallied in league tables which help people choose ethical companies over unethical ones, and use their purchasing power to favour a banking sector with firm social and environmental standards.
Charity Bank currently holds the top spot in the Good Shopping Guide index of ethical banks and building societies. Ecology Building Society and Triodos Bank follow in second and third place, whilst Santander, Bank of Scotland and Citibank are placed gold, silver and bronze in the least ethical league table.
Other accreditations to look out for
The Guide is a good point of reference and not the only one out there, which is great news: evidence of the demand for ethical and social businesses.
Another ethical signpost to look out for when you shop is the B Corporation certificate, which rates businesses independently and against rigorous standards of social and ethical performance. Charity Bank started the trend in the banking sector as the first European bank and sixth organisation in the UK to become a B Corp this year.
There’s also the Social Enterprise Mark, which raises the bar when it comes to profit distribution, independently certifying that a business is committed to reinvesting at least 50% of its profits into a social purpose (we ticked this box too). We are the only bank to be accredited as a social enterprise.
"The story of banking can change. And it starts with banks considering social and environmental values as core to their business."
Championing ethical banking
We also took the banking for good model to the Charity Times Better Society Awards last year, where we beat Barclays, CAF Bank, C. Hoare & Co and Swedish bank Handelsbanken to Bank of the Year.
Of course, we’re proud and it sounds good: Bank of The Year, Most Ethical Bank in The World. But there’s a serious point here: The story of banking can change. And it starts with banks considering social and environmental values as core to their business.
Ethical Bank? Prove It!
We invite you to look inside our Ethical Bank? Prove It! report to see inside Charity Bank and explore the evidence for our status as one of the world's most ethical companies.
Inside our report you will find out more about:
- what we do
- the safeguards and practices that define our approach
- who owns Charity Bank
- the ethical banking movement and where we fit in
- our internal values and what it’s like working here
- the data that helps us measure the impact our loans are having
- examples of where our savers’ money goes
- why we’ve joined movements like the Living Wage and the B Corporation.
We hope you'll take a look inside.
More importantly, we hope that you will join the ethical banking movement and use your savings to tell a better story.