Triodos sees rise in green lending
The sustainable bank, Triodos, has reported a large growth in its lending during the last year, and is challenging more people to think about what they do with their savings. Charlotte Reid has more.
Triodos has reported a 36% growth in lending to sustainable organisations in the UK. During 2011, the green bank increased its loan book to £424m, a rise of £113m. This makes its overall commitments worth £625m.
The areas that saw the most growth were renewable energy and social housing. There was also an increase of 150% in lending to the education sector, and a 30% growth in lending to healthcare. With loans to art projects and organic farms also up.
Dr Bevis Watts, head of business bank at Triodos, called the results “very exciting”. Watts said its annual growth shows a “demand for sustainable finance despite the challenging economic environment.
“It’s also an indication that a sustainable and socially conscious approach can help businesses and charities to flourish, bucking the trends of the wider market”.
Triodos is a bank which lends only to businesses and charities that have environmental and social benefits.
Watts now expects Triodos’ lending in 2012 to grow by at least a further 20%, “But we could do even more if more people took a conscious decision about their savings.
“So I challenge individual savers and businesses to think about what their savings could be doing if their money was deposited with a bank with a more conscious and sustainable approach to lending and investment”.
Triodos’ recent growth shows that people are interested in moving their money to ethical banks.
Blue & Green Tomorrow has recently highlighted Move Your Money month, which begins 1st of March.
Inspired by a similar movement in America the campaign wants people to move their money away from high-street banks as a sign of protest. This should make well-known banks want to change their behaviour and realise why it is important to bank sustainably.
Blue & Green Tomorrow has spoken to a number of financial advisers who talk about the number of ethical investment opportunities available. It is important to start seeing what return your money can get, but what good your money can do.
Even the United Nations is recommending that the way business is done should change so we can have a future worth choosing.
To find out more about ethical investment opportunities then speak to your IFA. If you don’t have one, then fill in our online form and we’ll connect you with a specialist financial adviser.
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