We join the ambition to raise the issue of everyone’s financial footprint and to create an awakening in everyday savers and investors about what their money is doing.
Q&A with triodos
Tell us about your organisation
We are Europe’s leading sustainable bank. Triodos Bank’s mission is to help create a society that protects and promotes quality of life and human dignity for all. Since 1980, our sustainable financial products have enabled individuals and organisations to use their money in ways that benefit people and the environment. We believe that when you entrust us with your money, you should know what we are doing with it and so we publish the details of every single loan and investment we make.
Why did you choose to become a pledge partner?
Triodos Bank UK is proud to be a founding pledge partner to MMMM in recognition of our ethical approach to finance and our own UK pension scheme. We understand that our pension investments need to support what our organisation works for and believes in.
And even though the campaign has started with a focus on pensions, we see great parallels with the message about what bank account people choose, and what direct investments they decide to take out. Once everyone starts to grasp about their pension, the next thing they will hopefully do is go to their bank and ask them what they are doing with their money.
Tell us about your pension – what sort of arrangement do you have?
Aviva has been our chosen pension provider for a number of years. Aside from the normal criteria of financial strength, customer service, online proposition etc. we chose Aviva because they have a well-defined and measurable plans and policies around social purpose. Triodos co-workers can choose from a range of SRI and ethical funds, and currently default into a sustainable fund. This default fund is investing in a combination of global equities, bonds and cash. The investment process uses a thematic approach to identify the key structural growth trends that will shape the global economy of the future and the fund managers then seek to invest in well run companies whose products and operations capitalise on these transformative changes.
What challenges did you face when you looked into your pension?
We are aware that when you compare the best providers of workplace group pension plans there is unfortunately not a lot to differentiate them on their commitment to sustainability or positive impact. We think the industry can do more on this front.
What would you share with other organisations that are thinking about becoming pledge partners?
The MMMM campaign needs broad support to make sure it gets the attention it deserves. We join the ambition to raise the issue of everyone’s financial footprint and to create an awakening in everyday savers and investors about what their money is doing.