Facebook flotation values the company at $104 billion
18 May 2012
The Co-operative Bank launched its Ethical Policy in 1992 after customers indicated that they would like to see their funds invested ethically. With this in mind, the policy was set up to reflect the ethical concerns of the customers rather than the management.
The bank chose to base its Ethical Policy on the concerns of its customers, on the basis that it is their money that is invested, and they should have a say in how it is invested.
Some industries have a huge and obvious impact on the environment and society, whilst the impact of others, such as the financial services industry, is not always immediately apparent. The Co-operative bank recognises that their impact, through the provision of financial and banking services to a wide range of business customers, can be more far-reaching and profound than the direct impact of their actual operations, so they ensure that this impact is managed.
More than a decade later, the bank continues to be the only high street bank that gives customers a say in how their money is used and which encourages customers input into the ongoing development of its Ethical Policy.
