There is frequently
lots of talk
around consumers
saying they want businesses to be more ethical but when it comes to the crunch,
do little to act on it.
It was therefore
interesting to see stats published
last month showing that the Co-op Bank has witnessed a 97% increase in
customers requesting to switch to their current accounts in 2012. And the
mutually owned Nationwide also reported a
huge 85% increase in new account enquiries - signalling
a shift in previously inactive consumer behaviour.
Louis Brooke from
the Move Your Money Campaign
says “Since January we estimate that half a million people have switched their
current accounts to ethical alternatives” marking what appears to be a consumer movement towards ethical banking.
Moving to ethical
finance is one of the ways a consumer’s choice can have the biggest positive
impact with finance being so closely tied to all other elements of the economy.
The Independent columnist, Simon Birch, predicts that this current revolution
could well prove to be a significant moment for the wider ethical consumer
movement.
Perhaps this will be
the first wave of consumers really putting their money where their mouth is.
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