Over the last two years, Blue & Green Tomorrow has been scathing of the culture and ethics of major banks. It is bank leadership not the typical member of staff that is entirely at fault.
Payment protection mis-selling, Libor-rate fixing, bank-rolling criminals, avoiding tax, excessive rewards for failure or simply collapsing the global economy are just the tip of the iceberg of banking failure. Banks deserve constructive criticism for irresponsible and illegal behaviour.
Senior management may feel aggrieved by the distraction of ongoing investigations and significant fines, but they are genuinely getting off lightly.Criticising people for banking with, or working for, major banking groups is counter-productive. Convenience, campaigns to children and inertia in later life make the major banks the default choice for most consumers. Being above average payers makes them a good employment choice for school leavers or graduates.
Highly talented, hard-working and ethical people work for most banks. They will be as horrified as anyone at the incompetence and blatant illegality.
Sadly, they are failed by a small clique of astronomically-paid, amoral and profiteering senior mangers. Employees who point out unethical investment behaviour, dubious or aggressive selling practices, deliberate product complexity, dishonest marketing or bullying management do not rise to the top.
The banks’ objective of reducing the cost-to-serve customers, rather than providing a good service, has lead to rampant outsourcing of call centres and getting call times down. Cattle-herding is the closest analogy to major banking group’s customer service – when it comes to either customers or their employees. Rather than seeing customer calls and visits as a valued conversation, it’s seen as a costly interruption or opportunity to sell.
But most major banking organisations are committed to good corporate citizenship and claim to be listening to their customers and employees (Lloyds incl. HBOS, Barclays, RBS incl. NatWest, HSBC and Santander) . They claim to have embedded corporate social responsibility. Many have signed up to the UN Principles for Responsible Investment and the UK Sustainable Investment Forum (UKSIF).
The only thing needed for the triumph of evil is for good men (and women) to do nothing – Edmund Burke
So, why not put that commitment to the test?
If you are a customer of one of the major banking groups above, you should consider the alternatives or you could write to the CEO to express concern over recent irresponsible behaviour.
Here’s the name and addresses of bank CEOs:
– António Horta-Osório, CEO, Lloyds Banking Group (incl. HBOS), 25 Gresham Street, London, EC2V 7HN – taxpayer bailout
– Antony Jenkins, CEO, Barclays Bank plc, 1 Churchill Place, London, E14 5HP – Libor, PPI and tax avoidance
– Stephen Hester, CEO, Royal Bank of Scotland plc (incl. NatWest), 36 St Andrew Square, Edinburgh, EH2 2YB – taxpayer bailout and Libor
– Brian Robertson, CEO, HSBC Holding plc, 8 Canada Square London E14 5HQ – money laundering
– Ana Botín, CEO, Santander UK plc, 2 Triton Square, Regent’s Place, London NW1 3AN – frequently been ranked the worst bank in the UK for customer service
See what they say in response and do let us know.
If you are an employee, why not raise concerns about recent unethical behaviour with your line manager or CSR/HR department. If you are ‘afraid’ of raising any concern at all, ask yourself if you are really working for an organisation that is listening to its employees or is socially responsible.
What do you think of Blue & Green Tomorrow? Complete our short reader survey and be in with a chance to win an iPad mini or a Kindle Fire. Survey closes December 21.
Like our Facebook Page
Is It Possible to Work in Tech Without Harming the Planet?
Zero Waste Living and Its Importance
Investing in a Sustainable Environmental Future for Northern Virginia
Prominent Trends in Seafood Sustainability in 2022
Sustainable Landscaping Tips for Your Property
Can PEMF Help To Improve Plant Growth for Eco-Friendly Gardeners
How the U.S. Government is Promoting Green Energy in the Country
12 Essential Things for Buying Your First Home
Harnessing Sustainability with User-Centric Technology Innovation
Making Your Dream of Having an Eco-Friendly Garden Come True
7 Eco-Friendly Plant-Based Alternatives for Everyday Products
Top 5 Benefits of Eco-Friendly Cars
Why Eco-Friendly Homes Should Have Outdoor Bathrooms
Merits of Sustainability Reporting: What Every Manager Must Know
Low Emission and Clean Air Zones: What You Need To Know
CEO Brian Ladin Explains How The Shipping Industry Is Going Green
A Guide to Eco-Friendly Landscaping
Is the Hyundai i30 A Valuable Investment?
Is Couchsurfing a Good Option for Eco-Friendly Traveling?
How To Set Up A Sustainable Smart Home
- Features11 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy12 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features11 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Features10 months ago
5 Compelling Reasons to Hire an Eco-Friendly Contractor