Major Survey finds the vast majority of Brits think banks should lend “ethically”

Brits are now putting more pressure on Banks to use social criteria when making loans to companies.

A new study by the non-profit research organization EIRIS found that nearly two-thirds of the UK public thinks banks should follow ethical lending policies when making loans to corporations. Respondents called for the implementation of polices that prevent banks from investing in companies that have poor environmental records, are associated with human rights abuses, and are involved in controversial areas such as arms manufacturing.

The study also found that the vast majority of British citizens think the new regulations aimed at controlling excessive risk taking by banks are not strong enough. A total of 66% of those surveyed thought that the major banks and financial institutions in the UK have have not learned the lessons needed to avoid a financial crises in the future and are quickly reverting back to “business as usual.”

In a related finding, the Green, Social and Ethical Funds in Europe 2010 Review revealed that SRI funds grew by 29% over the year from 683 to 879, with the biggest growths recorded in France, Switzerland, Germany and Belgium.

Read Two-thirds of Brits think banks should lend ‘ethically’, survey finds

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