| At a time when the entire world's attention is | | | | companies who are involved in activities that can |
| focused on the problems of world debt, with the | | | | range from weapons manufacturing, gambling, |
| Live 8 concerts, the G8 summit in Scotland, the Make | | | | pornography, tobacco, scientific animal testing to child |
| Poverty History Campaign (MPH) and the various | | | | labour, or do they instead direct their investment |
| anti-poverty marches, it seems that everyone wants | | | | towards activities which have a positive social and/or |
| the world's governments to behave more ethically | | | | ecological impact? |
| towards the manner in which international finance is | | | | Most people do not think about where their money is |
| conducted. This is obviously a laudable attitude to | | | | being invested, when they pay into a mortgage, |
| take, and has gained immense momentum with such | | | | pension or savings account, they just think about the |
| a groundswell of public opinion that even the UK | | | | return they will get on their money. This does appear |
| Chancellor, Gordon Brown, has stated he is planning | | | | to be changing however. |
| to participate in the Make Poverty History | | | | Following consultation with its members, the |
| demonstration in Edinburgh during the G8 summit. | | | | Co-operative Insurance Society, which has more than |
| Mr Brown has urged world leaders to follow up their | | | | £20 billion of funds under management, has |
| decision on debt cancellation for the poorest | | | | become the first insurer to launch an ethical |
| countries with a doubling of aid and fairer trade rules. | | | | engagement policy and said it would lobby businesses |
| The Chancellor said, "This is a day for the people not | | | | at every opportunity to improve their ethical |
| for politicians. It is the people's voice that must be | | | | performances. The Co-op already tries to ensure |
| heard." | | | | ethical compliance by making new business customers |
| Whilst the support from such a prominent member | | | | fill out an Ethical Policies questionnaire, which is |
| of the British cabinet with his accompanying | | | | assessed by the bank before agreeing to provide |
| statements that the world was "angry" and | | | | business services. |
| "outraged" over the poverty in Africa, which has | | | | Financial comparison sites such as Moneynet are now |
| continued despite repeated past pledges from the | | | | releasing guides providing information on ethical |
| richer nations, has been welcomed by many who | | | | investment covering all aspects of personal finance |
| believe that the various organised events could have | | | | from bank accounts, investments and pensions to |
| an influence on the leaders who attended the | | | | choices of domestic energy providers. |
| summit, others see his words as hypocrisy. | | | | Other organisations such as the Ethical Investment |
| Human rights lawyer, Aamar Anwar, said "Mr Brown, | | | | Research Service have been set up to provide |
| along with Tony Blair and George Bush, are the | | | | information into companies' ethical behaviour for |
| people who are responsible for poverty and | | | | independent investors, fund managers and charities |
| starvation around the world...The G8 is proposing | | | | alike. |
| spending £30bn on the alleviation of | | | | The world is gradually waking up to the idea that |
| poverty...It sounds like a lot but it is absolute peanuts | | | | responsibility needs to be taken for our actions, |
| when it is compared to the £280bn that was | | | | whether those actions are at the global, national or |
| made available for the war in Iraq." | | | | individual level. Lobbying of politicians and the interest |
| The trouble is that although there has been much | | | | that has been engendered by the Live 8, and MPH |
| talking and finger pointing at the rich and powerful | | | | campaigns can help to make a change, but these |
| Governments of the world, with claims that the way | | | | need to be continued beyond the present media |
| they are running international finances does not stand | | | | furore if we are to make a real change. An ethically |
| up to moral scrutiny, how many people can genuinely | | | | responsible nation is only possible if we also make |
| look at their own finances and state that they | | | | changes on our own doorstep. Until we really get our |
| themselves are doing everything they can to help, | | | | personal finance into perspective, the MPH becomes |
| and that they are ethically above reproach? Does | | | | just another fashion label. |
| their bank or building society lend their savings to | | | | |