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Friday 18th May 2007
Financial institutions would do well to offer customers environmentally-friendly products according to the Co-operative Bank, as ethical spenders are becoming more commonplace.
Natalie Collins, public relations officer for the Co-op, said banks were currently offereing more green products and those that help with climate change, explaining "It's all due to customer demand."
Ms Collins said that her own company now employs a public ethical policy, since over 90 per cent of customers they surveyed said this was important to them. The policy entails giving advice to companies they invest in to help them improve their own social responsibility.
She explained: "There has been a growth over the past few years of ethical consumer spending, but although she did not necessarily believe that eco-friendly mortgages or other green financial products were the future, per se, she believed it was valuable for banks to offer them as an option.
"I know a lot more companies are looking to offer these types of products just from the Budget They are offering more products to help the environment and to help climate change as a whole.
"I think it's something that companies will offer, but not as the norm. I think they'll offer it as a range of products that customers can choose from."
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