Can you advise on green banks in Germany? I am looking for a more ethical bank, not the mainstream options.
- I’ve heard of sustainable/ecological alternative like Tomorrow.
- Maybe naive questions. But I’d like to understand what makes a bank ‘green’ and what makes the traditional ones not green?
- Where the banks invest your money, for example not in Oil companies etc. The profits don’t go into pockets of bank execs but are invested in the industry of choice. GLS is a great example and they describe an approach with lots of details.
- Been using GLS for years, probably not the fanciest of online banking experiences, but they’re super nice and helpful, though sometimes a bit clueless. Would recommend.
- I use an online bank called Bunq, from the Netherlands. I personally have only had a great experience with them. Easy to use in Germany, you can get a maestro (EC) and a MasterCard, which is great for international travel (when allowed). I get paid into it and have never had a problem. You do have to pay a monthly fee to get the most out of the service but I am happy with what I received for that!
- UmweltBank, Triodos, GLS are good “green banks”. Actually, plenty of banks in Germany offer a wide range of socially/environmentally sustainable investment products now. It’s good that people start understanding that “it is not an investment if it is destroying the planet.”
- An interesting read, more academic and research-based.
- There are 2 Islamic ethical banks: KT Bank and Insha. Both are not allowed to invest in non-ethical activities.