New web tool helps Belgians check their bank's investments
"A great deal of banks have not yet learned from the crisis," claims Deutsche Bank at her web site. Great, that's exactly the way we feel. Disappointing however, that the same bank in 2013 spend only 21,8% of her total assets on classic loans that help real economy and 44,3% on trading.
Bank clients are entitled to transparency
The more CSR declarations, the bigger the investments in dodgy practices, it seems. FairFin launches the online tool Mind the Map, in order to allow bank clients to make their own reality check and trace their bank's investments. Bank clients are entitled to this information. FairFin advises banks to take their clients seriously and be transparent about their investments and the position of ‘sustainability' in their company. FairFin wants banks to finally understand that a proper CSR policy starts with excluding the most harmful of banks.
28 thousand euros for national nature, 280 million euros for deforestation
BNP Paribas Fortis ensures their former (ethically conscious) Krekelspaarders that "BNP Paribas Fortis strict guidelines for activities in and with sectors like palm oil, pulp, the production of electricity from coal, mining and arms." The group BNP Paribas in the meanwhile, invests over 6 billion in harmful mining and 187 million in controversial weapon producers. While BNP Paribas Fortis beats the drum on the 28.000 euros she donated to Belgian nature, BNP Paribas invests 280.000.000 euros in Bolloré, a company that cuts enormous surfaces of wood in Indonesia and Cambodia in order to build palm oil plantations.
Belfius, the bank owned by the Belgian state, claims to be a local bank, collecting savings and distributing to individuals, companies and, especially, public and social institutions. The Dirty Profits research however, proves Belfius operates anything but locally. Through their asset management, Belfius invests for example 75 million in Rio Tinto Group, the world's second largest mining company, active in six continents and responsible for destroying the environment and violating human rights.
New campaign FairFin: turn your money into a super hero!
As long as banks and politicians won't do it, we will do it ourselves. FairFin introduces a new campaign called Turn your money into a super hero, in which citizens and organizations get advice on take action in favor of a sustainable and socially just financial system.