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Triodos makes ethical top ten

Triodos Bank has been named as one of the top ten ethical companies of the past 25 years

04-08-2014 | Triodos Bank has been named as one of the top ethical brands of the last 25 years.

Readers of Ethical Consumer magazine were asked to name the company they regarded as being the most ethical over the past quarter of a century and Triodos Bank came in at number four.

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"To be in the top ten, amongst the likes of John Lewis and Traidcraft shows that consumers understand what we are trying to do and have set us apart from the other banks."

Huw Davies, head of personal banking, sales, and marketing at Triodos Bank

Other companies that made the top ten include John Lewis, cosmetics retailer Lush, organic vegbox company Riverford and the energy firms, Ecotricity and Good Energy. The Cooperative Group came in at number one.

Huw Davies, head of personal banking at Triodos Bank says that at a time where consumers have a high level of dissatisfaction with banks’ behaviour, it is great to see that Triodos is bucking the trend.

"We are delighted to be named as one of the top ethical brands of the last 25 years.

"To be in the top ten, amongst the likes of John Lewis and Traidcraft shows that consumers understand what we are trying to do and have set us apart from the other banks."

Recent figures from Triodos show that people now place more emphasis on culture and behaviour than they did. The top factors which would influence Britons' choice of bank now, compared to when they joined their existing bank, are that the bank does not pay big banker bonuses (77%), offers good interest rates (62%), and acts with honesty and integrity (58%). Almost half (49%) say a bank's ethical practice would be more important to them now.

So, Triodos Bank is challenging British savers to vote with their feet and move their money somewhere it feels good to save with.

Huw continued, "At Triodos Bank we are 100% transparent. We show our customers every loan we make and exactly how we use their money. We offer competitive and fair financial returns for savers and we only lend to businesses that are delivering a positive social, environmental or cultural impact."

At the other end of the scale, Nestlé - currently subject to the longest ever running consumer boycott – was voted the least ethical. The Swiss company, which also been criticised for its use of child labour and palm oil, and for not labelling GM ingredients, was joined by Monsanto; Amazon; Shell; Tesco; Barclays; Exxon; Wal Mart; Coca Cola and Primark in the least ethical Top Ten.

The Colour of Money

Customer magazine - Autumn 2016

Colour of Money - Autumn 2016

In this issue:The Food Waste War | Introducing Bevis watts | Bristol Energy Cooperative | Kurt Jackson | Satish Kumar | Linton Hydro | Changemakers | Thrive Renewables

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