The majority of us probably wish that we had a little bit more money, I am not talking vast riches and expensive desserts, just enough to get by comfortably with a bit of money to have fun with. But what would you choose to do with this extra cash that we have come up with in this imaginary world?
Investment is almost a dirty word in some senses, especially if you add -banker to the end of it. However, there is movement of investment which is gaining a bit of steam and will not be lining the pockets of those who have brought the country to its knees.
Ethical investing is the process where people choose to invest their hard earned cash in local community projects. Of course they are looking for a return on their investment (it is an investment after all), but the benefits to be gained are more than financial.
A perfect example of this can be seen in the Butchers Arms. A local pub that closed down was resurrected by the community forming a cooperative, with everyone putting money in to reopen the doors. They will be looking for a return on their investment in a couple of years but for now the pub bringing the community together is more than enough pay out.
Another great example of the community ethically investing in its own future is the Esk Valley Energy group. They aim to invest in hydroelectric power to help lower the impact that their community is having on global warming. They will also be able to sell any energy that they give back to the grid. This will hopefully lead to a return on investment.
With research released last week to coincide with National Ethical Investment Week revealing that 42% of British adults who have investments are “looking to make money and make a difference” and over one in three wanting at least a quarter of their investments to be ethical and green, this may not be on a local level but the thought of ethical investment is definitely in the thoughts of investors.
There are also independent financial advisors who are dedicated to solely focusing on ethical investment such as Gaeia who are located in Edinburgh. With the importance of ethical investment growing and community investment beginning to gain traction this is looking like a much more appealing investment area than perhaps first thought. And with last week being Ethical Investment Week, I made up a little storify to show what was going on. If I had the money to invest in something, I would ensure to check out the possibilities of local and ethical investments.
Have you made investments before? Did you consider if they were ethical? Did you look at the possibilities of local investments? Please let us know your thoughts in the comments.
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October 27, 2023
finance