Lars Pehrson from the Danish bank Merkur Andelskasse marked to Icelanders, who have lost their savings and often living as well in the recent economic crisis, in a seminar on socially responsible banking held during the summit meeting of the Nordic countries that modern banking can still be likened to Formula 1 racing in street traffic.|
For example, among the customers of Merkur Andelskasse are a group of farmers who started an organic farm and created 150 new jobs in the periphery of Denmark. Cultura Bank prefers environmentally friendly undertakings: passive houses, biodynamic farms and projects related to the disabled. Renewable energy is a new challenge for the Norwegian bank. The mentality of Ekobanken is best illustrated by their headquarters, which is located on a farm in a rural area. Some of their projects: Vårdinge Village (art school for the disabled), welfare services for the elderly, a ship for conducting training sessions and facilitating cooperation between former prisoners. The goal of all three socially responsible banks is to promote local welfare and this makes the opening of branch offices abroad very complicated - everything is based on trust and the knowledge of local needs. That is why these recognised banks encouraged Icelanders to found their own banks with similar operating principles. Merkur Andelskasse, Cultura Bank and Ekobanken decided to donate one-third of the prize for the promotion of this goal in Iceland. In addition to a nature and environment prize the Nordic Council of Ministers awarded also a literature prize (Sofi Oksanen, "Purge"), film prize (Thomas Vinterberg, "Submarino") and music prize (Lasse Thoresen, "Opus 42") at a formal ceremony held last week in Reykjavik. Each prize is worth 350,000 Danish kroner. |
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Icelanders are hoping for banking with a conscience
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This year the bank, along with other two, was awarded a nature and environment prize of the Nordic Council of Ministers. Merkur Andelskasse shares the prize with Cultura Bank from Norway and Ekobanken from Sweden. Those three represent a new trend in banking. They merge traditional market economy with value-based banking. As usual, the goal of the banks is to move cash flow and earn a profit, but they only lend money to companies and projects that share their values. It is their task to find agencies and people who are most effective in producing such values. And the venture must be successful at that. |