It is our commitment not to provide banking services to businesses and organisations that conflict with our Ethical Policy (PDF).
Due to our Ethical Policy position not to provide banking services to businesses or organisations involved in the manufacture or transfer of indiscriminate weapons, we are the only UK-based bank in the Don’t Bank on the Bomb report Hall of Fame (October 2019) and the Worldwide Investments in Cluster Munitions report Hall of Fame (December 2018).
In 2019, 223 business applications were referred to our specialist team for additional screening. As a result, four potential customers did not meet the ethical expectations set out in our customer-led Ethical Policy. As a result, we decided not to accept them as Co-operative Bank customers.
A consultancy business providing services to companies working in the defence sector was not accepted as a new customer. We considered their activities to be in conflict with our position on the manufacture or transfer of arms to oppressive regimes.
We declined services to a business that was making irresponsible marketing claims about the efficacy and safety of their product.
A consultancy business involved in the supply of equipment used in the extraction of oil was not accepted as a new customer. The nature of the business was considered to be in conflict with our Ethical Policy statement on the extraction of fossil fuels.
We declined services to a business that manufactures equipment used as part of intensive farming practices and which was therefore considered to be in conflict with The Bank’s Ethical Policy.
Our Central Screening Exercise is a risk based review of our existing business customers to ensure they remain compliant with our Ethical Policy. Those considered to present the greatest potential risk of conflict with our Policy are required to complete an up-to-date self-certification form.
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We've always shared our customers' passion for values and ethics. That's why we're different from other banks.
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