9 tips for ethical investors 13 May 2013
Here are some tips to help make sure your investments benefit you and the planet.
1. Establish which issues are important to you
Do you want to invest in companies with no involvement in GM or animal testing?
2. Decide how much risk you want to take
you want to take. Shares are more risky than leaving money in a bank account, but the rewards are potentially much higher.
3. Get help from the experts
Contact an ethical independent financial adviser (IFA). Research IFAs with the Ethical Investment Association, the Ethical Investment Research Service, and the UK Social Investment Forum.
4. Discuss all your options
Your adviser may suggest you change your bank account, set up an ISA or start a pension fund. You may want to look at a green mortgage or moving your house contents insurance policy to an ethical provider.
5. Consider moving your bank account
Consider opening a bank account with the Cooperative Bank. For every account opened Friends of the Earth receives £15. We get a further £2.50 if you use the card in the first 6 months. Find out more at Move Your Money.
6. Consider moving your savings account
Opening a savings account with Triodos Bank. It only lends to people and organisations that make the world a better place. If you open an account and deposit £100 or more, they'll donate £40 to Friends of the Earth.
7. Membership schemes
Become a member of a credit union or join a time bank or local trading scheme such as LETS.
8. Do an annual audit
Make sure your money is doing what you want by regularly checking on the interest rates of your bank accounts, the status of your mortgage loan and the ethical performance of the companies you are doing business with.
9. Make a will
Make sure your money goes to the right people and places. To request a Friends of the Earth legacy pack, please call Lesley Braden on 0207 566 1667.
Read more about money matters
This article is based on an extract from Save cash & save the planet.
© Adrian Arbib
