Money Matters
Money needs to be managed, whether we are earning it, spending it, saving it or investing it. As part of our environmentally considerate living, we need to aware of the ethics and the impacts of our money management in all four ways.
Earning money
At this point we are retired but still running a home-based small business so we are pretty well in control of all aspects of the business. Raw materials are UK sourced and delivered twice a year. Energy for the workshop and car is 100% Renewable from Ecotricity. For packaging materials we re-use cardboard cartons and buy in biodegradable packing materials. The very light business use of the car is all electric with zero ommissions. Most carton orders are collected by the postman who in turn is THE most efficient and environmentally sound parcel delivery service as he passes the house every day in his van and his colleague does the same every day at destination. The marginal additional carbon footprint of using the postal service is very, very small.Spending Money
It should be straight forward in the digital age to select and acquire the most environmentally sound goods and services. Our thinking is that sometimes we just do not allow sufficient time ahead of a purchase to be able to make the best decisions. Snap or window shopping decisions are the dangerous ones. The main decisions on the regular big spend items like food, energy, transport we do this very well and make good decisions and hone them as we repeat the purchases.
However when it comes to very big ticket items like
house improvements (kitchen, bathroom, extension, decoration) it is usually the cost that drives the decisions which deflects environmental issues into the shadows. In theory the very wealthy could be expected to solely buy on envionmental attributes as money is not the driver however, sadly, for the most part they are "#Too Wealthy to Worry".
Saving Money
We have our current and savings accounts with the Co-Operative Bank, knowing that this is part of a mutiple business society which places importance on ethical and transparent trading and reporting, and democratic accountability and participation and has done many good things over the decades in the UK.
They will only use our funds ethically. They are also very much more customer friendly, helpful and accessible compared to the multinationals.
We also have savings with the Government's NS&I
Investing Money
Ethical, Social and Governance (ESG) is all the rage in investment circles as we enter the 'twenties'. Buying into funds and trusts takes a good deal of research and often a selection which initially appeals turns out to be unacceptable because the underlying investments in mining, oil, gas, arms, tobacco, gambling, child labour etc. Treading Softly has spent years finding suitable green and ethical businesses and has a cluch of them for the portfolio. Below are a few 'pointers' to help narrow down the veritable ocean of options available for selection and are correct at January 2022:
London Stock Exchange "Green Economy Mark"
This identifies UK listed companies and funds that generate over 50% of their total annual revenues from products and services across all industries that contribute to the global Green Economy.The term "Closed End Investments" means an Investment Trust which invests in many other companies. Of these, Treading Softly has invested in 10.
Green Investment Guide - 15 Green UK Investment Trusts
These are generally renewable energy (wind, solar, battery storage) investment trusts, of which 8 have been supported by Treading Softly. Clicking on their Investment tab, the Green Investment Guide has other tools to assist in the research.