Non profit
Spain: Banks under scrutiny
A recent meeting in Madrid has acknowledged the negative impact that unethical financial policies have on society and the environment
di Ges
According to a number of experts who participated in a recent international meeting held in Madrid, the current expansion of capital markets is reflected in a steady increase in investments which is allowing financial organisations to widen their overall impact. But the organisations who organised the meeting are concerned about the effects that badly planned financial policies may have on the environment, human rights and sustainable development, especially in impoverished countries. These organisations denounced the malpractice of specific banks that have publicly committed to corporate social responsibility.
In this regard, ethical financing arises as an alternative to those financial organisations linked to controversial projects or enterprises. Ethical banks are an opportunity to practice a solidarity-based economy and to pay attention to issues such as biodiversity, cultural heritage or working conditions. For ethical banks, profitability is not the top priority.
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