Ethical Consumer Magazine has rated 28 banks on their current accounts and 46 on their savings accounts, giving them an ethical score by assessing banks on their company ethos, approach to tackling climate change and tax conduct. This year, Ethical Consumer also introduced new categories to calculate bank’s lending policies, loans and investments.

Triodos has been recognised as ‘standing ahead of the pack’ and scoring 96 out of a possible 100 points, with our personal current account outranking all the major high street banks as well as digital-first challenger banks.

“Where you bank matters,” explains Alex Crumbie, researcher at Ethical Consumer. “Banks don't just take deposits from consumers, they provide loans and other forms of finance to businesses all over the world. Many of the big banks finance businesses involved in harmful activities, such as the extraction of fossil fuels or the production of nuclear weapons. If your money is with one of these banks then we urge you to switch to an ethical bank.”

Leading the way

Ethical Consumer noted that Triodos Bank is leading the way in ethical banking through our company ethos, and climate action. Stating that we provide a genuine alternative to mainstream banking through our sustainable lending and investing, citing our commitment to fair and appropriate remuneration including our positive approach to pay ratios. Our commitment to never finance the fossil fuel or arms industries positions us at the top of this category.

Alex Crumbie adds, “For those that wish to switch, Triodos is a great choice. Yet again, it is one of our Best Buys, scoring 96/100 in our ethical rating system.”

Talking about the new research, Roger Hattam, director of retail banking at Triodos Bank UK, says, “We’re proud that Ethical Consumer has awarded ‘Best Buy’ status to both our current account and personal savings accounts. Against the most comprehensive methodology to date, Triodos's scores reflect the strength of our commitments to transparency, climate action and remuneration.

“This ranking gives consumers absolute confidence in making banking decisions that align with their values. Our recent research shows that the UK public think that funding positive change is needed now more than ever, with younger generations especially being ready to move away from big banks that do not meet these expectations.”

Triodos was also top scoring in the climate category, which was achieved due to our commitment to calculating our emissions. Rather than funding fossil fuels - which we strongly stand against - we actively finance innovative solutions to acclerate the energy transition before 2030. The majority of high street banks lose significant points for their involvement in funding fossil fuels.

We were also recognised for our transparency. Triodos is the only bank to  publish the details of all the customers in our lending and investing portfolio on the Know Where Your Money Goes section of our website. So, our customers know exactly where their money goes.