Triodos was one of only two providers to secure Ethical Consumer’s ‘best buy’ rating, topping the leaderboard with 13.5 points out of 14. The independent research singled out the bank’s “exemplary transparency” which they described as being “way ahead of anyone in the sector”. A special May/June issue of the magazine focused on money tackles what is described by Ethical Consumer as a “tsunami of greenwash” from investment managers.
Bevis Watts, CEO of Triodos Bank UK, said: “We are very proud of the portfolio of award-winning impact investment funds managed by Triodos Investment Management, which we offer as a Stocks & Shares ISA.
“We see impact investing as a driving force in the transition to a more inclusive and sustainable world, and we’re delighted that our mission to make money work for positive social, environmental and cultural change has been recognised by Ethical Consumer.”
Shanta Bhavnani and Louisa Gould, who authored this year’s guide, commented: “Triodos consistently tops our tables for its financial products, not least because of its ethical investment policy and complete transparency about all of its loans and investments.
“We think that most people investing in an ISA marketed as ‘sustainable’, ‘responsible’ or ‘ethical’ will assume that it avoids fossil fuels – but it isn’t always the case. Only Triodos clearly excludes fossil fuels across its entire investment portfolio.”
Research published by Triodos Bank UK in March found that three quarters of the UK public (73%) believe we need to collectively invest in long-term solutions to the issues the world is facing – such as investing in renewable energy to bring down energy costs and reduce our reliance on fossil fuels.
Furthermore, almost two-thirds of people surveyed (65%) said that individual investors have a responsibility to ensure their money is being used for good, instead of funding harmful industries such as oil and gas.
In addition to the Stocks & Shares ISA, Triodos’ Pioneer Impact Fund was also ranked second for ethical investment funds, and was one of only two providers to be awarded the ‘best’ rating for carbon management and reporting.