Individuals and organisations can change accounts and investments to banks and building societies considered to be ethically sound. There is no single definition of an “ethical” bank, but factors may include:
– not investing in governments or businesses which fail to uphold basic human rights or have links to oppressive regimes
– not investing in the arms or oil trade;
– actively financing companies, institutions and projects that add social, environmental and cultural value in their work;
– promoting equitable partnership in developing countries.
– supporting local environmentally sustainable initiatives
Fair-trade products ensure higher prices for farm produce in less economically developed countries. The resulting financial security permits local farmers to provide reasonable wages and conditions to workers. Indigenous cultures, local industries and environmentally sound agricultural techniques are less compromised by these fairer trading deals. Fair trade suppliers sometimes invest in infrastructure and education in the communities where they buy their raw products.