The environment, a weight criterion for choosing the bank
Friends of the Earth published the 2008-2009 version of their eco-citizen guide "Environment: how to choose my bank? "In partnership with the CLCV.
The association analyzed the environmental and social impacts of the different activities of the major French banks in order to inform citizens of the use made of the money they entrust to their bank, and cause them to change their practices. The guide reveals in its ranking three separate groups of banks: the Nave and the Cooperative Credit to positive impacts, the Postal Bank, Banque Populaire, Caisse d'Epargne and Crédit Mutuel-CIC with low to moderate risk, and the Credit Agricole, Société Générale and BNP Paribas, which prove to be the most risky and why Friends of the Earth provide specific recommendations.
The publication of the guide "Environment: how to choose my bank? 2008 / 2009 "comes a year and a half after the first version. Based among others on the expertise of BankTrack, the NGO international network working on finance including Friends of the Earth are members, the 2008-2009 guide confirms what his predecessor already revealed: too many French banks are involved in controversial projects with heavy social impacts and environmental. Yann Louvel, in charge of Private Finance campaign with Friends of the Earth, summarizes the results: "The major French retail banks have activities and extremely diverse industries, with such disparate impacts. The analysis we have conducted have to distinguish three very different groups of banks depending on the induced impacts of their activities ".
Besides this classification, the "Environment: how to choose my bank" guide also shows how French banks and consumer-citizens present the steps to change banks. Solidarity finance and socially responsible investment products (SRI) are presented, as well as the initiative of the Caisse d'Epargne, which followed a recommendation of Friends of the Earth, and proposed labeling their products banking to individuals in three parts (safety, responsibility and climate). Finally, the guide describes the different solutions for financing its ecological house.