- Green Lifestyle
Let’s talk about money.
Do you read the stock market prices in the morning while enjoying your first coffee? Not me. I do not know anything about it (not to mention the necessary budget for financial investments). But of course, I would like to do good with the money I earn.
Kristin Oldenburg
Meaning I do not (only) want to donate, support a few NGOs, or buy the “right” thing when I buy something. It’s not just me who feels this way. In Germany, one in two people would now like to invest their money sustainably, according to a representative survey by the consumer advice center*. But it’s not quite as simple as that, at least that’s how it seems to me – and to be honest, I only understand half of the banks’ jargon. But…
There are also “green banks”.
Since 1974, there have been eco-banks in Germany that work with their customers’ capital according to socially ethical criteria. An overview of these can be obtained, for example, from the Fair Finance Guide** or from the consumer advice centers***.
This means, that you can open your normal salary account with such a bank and thus ensure that your money is only used for sustainable, social, and fair companies/projects. The financial institutions have either negative criteria, which exclude investments in for example fossil energies, armaments, or chemicals. And/or positive criteria that define in which industries investments are made.
Among others, examples for eco-banks are the GLS Bank, Umweltbank, Triodos, and Ethikbank – even denominational banks are among them, if you don’t mind the connection to the church. Of course, the account management fees etc. are somewhat higher than with the classic banks, but I think that is bearable considering the other positive effects.
A short note: We are not financial advisors or bankers. Everyone must make such decisions for themselves and take responsibility for them. However, we would like to give you some ideas on how to approach the topic yourself.
So much for part 1 of our morning coffee reading material about finances. The next part about sustainable investments will follow soon. In the meantime, if you want to dive a little deeper into the topic – here’s a list of links. Of course, all our information regard Germany – other countries will certainly have their own approach to this topic.
www.finanzwende.de/
www.fairfinanceguide.de
www.utopia.de/bestenlisten/die-besten-nachhaltigen-banken/
Leave us a comment and tell us what you think about this topic. We look forward to reading your opinions.
Sources:
*www.vzbv.de/sites/default/files/downloads/2021/02/11/nachhaltige_geldanlage_ergebnis_praesentation_aktualisiert_sem_09.02.pdf
**www.fairfinanceguide.de/
***www.geld-bewegt.de/wissen/geld-versicherungen/nachhaltige-geldanlage/produktuebersicht-girokonto-20152
