Triodos in mind Which one? list of the best financial institutions for eco-responsible savers

Sustainable bank Triodos has been named the best financial institution for environmentally conscious savers, according to a new report from Which ?.

Although construction companies have invaded the top of the firm’s index, Bristol-based Triodos topped the ratings. The second were Nationwide and Ecology Building Society.

Who? ranked 18 banks and building societies based on publicly available information. They have been classified into four categories: environmental reporting, carbon management and reporting – the most important category – transparency and ethics.

The Co-operative Bank finished sixth, while NatWest, Lloyds, HSBC and Barclays languished in the middle of the table.

The cooperative has done well because of a goal of not sending waste to landfills, but its sustainability report didn’t say how it helps customers manage their environmental impact.

Meanwhile, Santander was named the worst performing bank in the index.

Who? said more than a quarter of its members care about the values ​​of the companies in which they invest their savings. But more than two-thirds said they wouldn’t know how to find information on a bank’s green credentials.

Jenny Ross, which one? Money Editor said suppliers need to be “more transparent” to help consumers compare and make informed choices.

“It can be incredibly difficult for consumers to assess the sustainability of a product or business, but when it comes to savings providers, our research shows that building societies and specialty banks do better. work on sustainability and transparency, compared to the big banks. ” she said.

“While interest rates are often the deciding factor when choosing a savings provider, we know that some consumers would consider moving their money if they found out that it has been invested in industries that hurt their bottom line. the environment.

Earlier this month, Triodos topped a global ranking for funding the world’s cleanest energy contracts last year.

The institution, which is based on Deanery Road, has funded more than $ 433 million (£ 310.9 million) in green deals in 2020.

Triodos Bank Managing Director Bevis Watts said: “Sustainability is absolutely at the heart of Triodos Bank and we are happy to allow people’s money to be used as a force for good through our accounts. savings, as well as our current accounts and investments.

A spokesperson for Santander said: “Our goal is to help people and businesses thrive, which permeates the way we do business and is central to our sustainability strategy.

“We are committed to recognizing the impact we have on all of our stakeholders and aim to be responsible in everything we do.

“We have invested in the development of a UK-wide sustainability strategy and over the past year we have shifted our priorities and ambition levels to ensure we accelerate our on the road to becoming a truly responsible bank. “

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Marianne R. Winn

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