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United Kingdom

United Kingdom

Bank account for green savers

The ethical bank that runs the Wind Fund is launching a "green" savings account in the UK with Friends of the Earth (FOE). Triodos Bank, a Dutch/British venture which is the UK's only social and environmental bank, announced the move in late June and hopes to raise £10 million for investments in small scale renewables projects. FOE kick started the new Earth Saver account with a £200,000 deposit. The account allows investors to help combat climate change by directing savings to renewables and conservation. From June 24, it offers interest rates up to 5.5% yearly, but gives investors the option of paying interest into the FOE Trust. Triodos Bank's Glen Saunders says, "Savers know where their money is being used and can mobilise their savings for issues they support." A survey by UK investment group Friends Provident shows "ethical investment" to be the fastest growing sector of retail financial services in Britain.

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