Co-op Reports Increase in Ethical Concerns

by Gill Montia

Story link: Co-op Reports Increase in Ethical Concerns

Co-operative Financial Services is convinced that UK consumer awareness of environmental issues is increasing, leading to a rise in demand for ethical financial products. The Co-operative Bank has produced research showing that eight in ten consumers would opt for an eco-friendly product, given the choice. In the main, people are trying to do their bit to combat climate change and these findings are supported by research from the UK Social Investment Forum, which has also found an increase interest in ethical and environmental funds.

The Co-operative Bank is a leader in ethical investment, having introduced its Ethical Policy in 1992. Its Financial Services division has just launched a new ethical student account. The bank believes that when choosing a student account it is important for young consumers to assess the whole package rather than allow themselves to be won over by the various free gifts and discounts that the majority of student packages offer. The new Smile account provides 3.04% AER interest and a free overdraft of up to £2,000.