What Price Ethics ?

Categories: uncategorized

Date: 11 October 2005 10:43:37

While away with Sport Hater for the weekend we saw a story in the Independent regarding ethical investments. Now I must confess that I am actually a Times reader but bought the Indi as it had a copy of the Indochine DVD for free. As I like the film I thought I'd buy the paper - plus the Times were giving away Cabaret, which I loath.

So we started discussing the issue of ethical investments. As those who know Sport Hater will be aware of her viewpoint I can leave that side alone. Personally I believe that ethical investments are a worthy but poor form of investments. The same with the way that some people choose ethics over everything else.

If I'm saving for my retirement I want too ensure the best return possible. I want too ensure a comfortable lifestyle that will ensure that we do not have to worry about finances after we finish work. I want to be able too do the things that we couldn't manage before. In addition we'll have the money too be able to contribute to good causes.

Now if I have a choice between a return of 400-600% or 90-130%, which should I choose? Personally I'll take the filthy lucre and use it too do good myself.

For some of us this choice is not available. Those in company schemes get no say over their investments.

Another thing that has annoyed me regarding the subject is the love shown for the Co-op Bank. Having worked in the financial services industry I've had dealings with them and their agents. Having an ethical policy is all wel and good but if you don't act ethically what good does it do.

At present the Co-ops insurance/investments division are pushing through a new contract for their staff. There has been very little consultation and the company are using it as an exercise in reducing staffing levels without the need to pay redundancy. So far they have been hit with a 2 day strike, with more planned.

Is this the way a company that makes ethics a big selling point ethical company should act? In fact the Co-op are no more ethical than most other banks or financial services providers.