Ethical Consumer magazine has rated 31 UK banks and given them each an ethical score. It took into account each bank's environmental approach and governance issues, as well as the sort of activities each bank is funding and the ethical policies they have in place to prevent the financing of harmful practices.
Triodos came out on top, and was recognised for its transparency and positive investment strategy, which Ethical Consumer has called 'stand-out’ and ‘market leading’. Our personal current account rating outranked all the major high street banks, as well as digital-first challenger banks.
Why we're market leading
Ethical Consumer noted that Triodos Bank are leading the field on ethical lending and investment policies. It stated that Triodos’ standards are detailed and comprehensive, covering everything from fossil fuels to genetic modification, and are published on the our website.
We publish information about organisation that we lend to on the Know Where Your Money Goes section of our website. This means that our customers can find out about every single organisation in our lending and investing portfolios, which, as Ethical Consumer noted, isn't something other banks are doing.
We were also given the best rating for environmental reporting, as we don't fund fossil fuels and actively avoid any area that may contribute to environmental destruction.
Ruairidh Fraser, researcher at Ethical Consumer, said: "Banks have a massive impact on the world through their loans and investments. That’s why it’s so important for customers to know what banks are doing with their money and what policies, if any, guide their choices. But our survey of the banking sector showed that this information is still very hard to find. In an industry increasingly dominated by greenwashing, Triodos was the exception. With robust ethical lending criteria and detailed information on the website about all its loans, Triodos leads the field on transparency and was once again a standout Best Buy."
Changing the world of banking
“We’re proud to be recognised as Ethical Consumer’s Best Buy, reflecting our sustainable ethos and market-leading transparency,” says Bevis Watts, CEO of Triodos Bank UK. “However, we want a future where these standards aren’t the exception, but the rule – with all banks showing the level of transparency and accountability that we do.
“If the financial industry is truly going to play a part in tackling the combined threats of the environmental and social issues that we’re facing, we need each and every bank to reflect these values and make real commitments to investing only in areas that contribute to a sustainable future for