A government bank which is to focus on providing investments into ethical projects will have a consultation launched today (July 16th).
Announced by the chancellor in his annual Budget report in April, the 12-week consultation will discuss how the body, called the Social Investment Wholesale Bank, will work.
The Cabinet Office has said that the bank will be the first of a "new breed of financial institution" which will look to make investments back into society and environmental funds .
Angela Smith, minister for the Third Sector in the Cabinet Office, added she hopes to see it "ensure that charities, voluntary groups, social enterprises, co-operatives and mutuals grow stronger and are in a better financial position to lead the way in building Britain's future".
British people want to make a profit on equities, but also care about the social, environmental and ethical effects of their investments, according to a recent survey by Friends Provident.
Consultation to be launched for ethical investment bank
Consultation to be launched for ethical investment bank
Thu, 16 Jul 2009
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