By Jane Sandwood
Ethical investment is the new hot trend in global finance. Ethical, or sustainable investment now accounts for US$12 trillion every year, according to the Forum for Sustainable and Responsible Investment, reflecting the wants and needs of a market who would like their wealth generation to do a bit of good for the world around them.
As with all things, there is a link between smart technology and apps. What’s interesting is that some of the more “basic” and user-friendly services are also some of the most conscientious, and most are available on the App Store.
Daily banking
Ethical investment tries to contribute to progressive or environmentally causes and away from controversial or ‘problem’ sectors. This can include fossil fuel and tobacco, but also extends to areas such as gun manufacturing. Many responsible single investment platforms will not pay into any gun-related funds, given the ongoing gun control debate. Leading the charge towards widespread ethical investment of this manner is Monzo, the personal online bank that is surging in popularity. According to The Guardian, they won a 2019 award that hailed some of the most responsible investors, alongside some other notable names in British business. In the U.S, small scale banks are achieving the same.
Expanding services
Banks are often the best option for true high quality ethical investment, and many are expanding apps to make that happen on your smart device. US Bank are among the most notable, according to money management website Fool, but others are making the effort to include ethical investment. How do you know how to choose? Advertising is a great way forward, as all of the relevant smaller banks will focus on their track record of ethical investment.
Aside from that, research around and look at where your money is going. Investment firms are obligated to tell you exactly how your money is attributed across different funds, and this gives you the opportunity to see if you really are being given an ethical service
From the grass roots
The drive towards ethical consumerism and investment has been led from the grass roots, and this has come full circle. Crowdfunding platforms like GoFundMe have inspired services like tickr, which is a more conventional investment platform that seeks to push funds only into worthy causes that meet progressive or needy criteria. These apps allow micro-saving – where you offer a small amount every day, or week, and this is contributed to a larger fund.
This makes it a suitable venture for small-scale investors who want to make a difference with the amount that they are able to contribute. Getting apps like this, especially with change round-up, is a quick and easy way to make money and have a positive impact on the planet.
Investing is still a great way to make money. Sadly, some investors have a poor track record when it comes to treating the world around them in a responsible manner. As with all of the best technology, you have the power to use it at your fingertips.
