Bad credit loan customers 'want banks to lend ethically'

Nearly three-quarters of the British public want banks to adopt ethical lending policies, bad credit loan customers have been told.

A survey, conducted by Ipsos MORI, on behalf of non-profit research organisation EIRIS, explored attitudes to green and ethical finance, and found that 73 per cent of respondents wanted banks to stop lending to, or investing in, companies involved in controversial business, such as arms manufacturing.

The research also identified a desire for change in all investment and lending, as 66 per cent of people asked did not think that financial institutions have learned the lessons of the recent global economic crisis.

Mark Robertson, head of communications at EIRIS, said: "It's clear that there's a lot more that financial institutions can do to build trust and persuade us that they have switched away from short-term, unsustainable investing and lending practices."

Last week, UK Sustainable Investment and Finance released an advice document which provided practical tips on how to get involved in National Ethical Investment Week, from November 7th to 13th.