Home
>
Personal Finance
>
The World is Not Enough - Calling for a More Ethical Approach to Personal Finance

town car ride to ohare Marengo Park Ridge taxi to Midway Naperville south of 95 limo Midway Lincoln Stretch limo rentals Deerfield travel from O'Hare Carpentersville .. Drug testing

The World is Not Enough - Calling for a More Ethical Approach to Personal Finance

At a time when the entire world's attention is focused on the problems of world debt, with the Live 8 concerts, the G8 summit in Scotland, the Make Poverty History Campaign (MPH) and the various anti-poverty marches, it seems that everyone wants the world's governments to behave more ethically towards the manner in which international finance is conducted. This is obviously a laudable attitude to take, and has gained immense momentum with such a groundswell of public opinion that even the UK Chancellor, Gordon Brown, has stated he is planning to participate in the Make Poverty History demonstration in Edinburgh during the G8 summit.

Mr Brown has urged world leaders to follow up their decision on debt cancellation for the poorest countries with a doubling of aid and fairer trade rules.

The Chancellor said, "This is a day for the people not for politicians. It is the people's voice that must be heard."

Whilst the support from such a prominent member of the British cabinet with his accompanying statements that the world was "angry" and "outraged" over the poverty in Africa, which has continued despite repeated past pledges from the richer nations, has been welcomed by many who believe that the various organised events could have an influence on the leaders who attended the summit, others see his words as hypocrisy.

Human rights lawyer, Aamar Anwar, said "Mr Brown, along with Tony Blair and George Bush, are the people who are responsible for poverty and starvation around the world?The G8 is proposing spending ?30bn on the alleviation of poverty?It sounds like a lot but it is absolute peanuts when it is compared to the ?280bn that was made available for the war in Iraq."

The trouble is that although there has been much talking and finger pointing at the rich and powerful Governments of the world, with claims that the way they are running international finances does not stand up to moral scrutiny, how many people can genuinely look at their own finances and state that they themselves are doing everything they can to help, and that they are ethically above reproach? Does their bank or building society lend their savings to companies who are involved in activities that can range from weapons manufacturing, gambling, pornography, tobacco, scientific animal testing to child labour, or do they instead direct their investment towards activities which have a positive social and/or ecological impact?

Most people do not think about where their money is being invested, when they pay into a mortgage, pension or savings account, they just think about the return they will get on their money. This does appear to be changing however.

Following consultation with its members, the Co-operative Insurance Society, which has more than ?20 billion of funds under management, has become the first insurer to launch an ethical engagement policy and said it would lobby businesses at every opportunity to improve their ethical performances. The Co-op already tries to ensure ethical compliance by making new business customers fill out an Ethical Policies questionnaire, which is assessed by the bank before agreeing to provide business services. Financial comparison sites such as Moneynet are now releasing guides providing information on ethical investment covering all aspects of personal finance from bank accounts, investments and pensions to choices of domestic energy providers.

Other organisations such as the Ethical Investment Research Service have been set up to provide information into companies' ethical behaviour for independent investors, fund managers and charities alike.

The world is gradually waking up to the idea that responsibility needs to be taken for our actions, whether those actions are at the global, national or individual level. Lobbying of politicians and the interest that has been engendered by the Live 8, and MPH campaigns can help to make a change, but these need to be continued beyond the present media furore if we are to make a real change. An ethically responsible nation is only possible if we also make changes on our own doorstep. Until we really get our personal finance into perspective, the MPH becomes just another fashion label.

Richard works in Edinburgh for Bigmouthmedia, occasionally writing for the personal finance blog Cashzilla, and drinking too much coffee.

Additional References:
The Make Poverty History Campaign
Moneynet Ethical Investment Guide

limousine chicago service

In The News:

The Boy Scouts of America is trying to recruit a new generation of kids to join its troops with high-energy, high-tech activities that include thrill-inducing zip lines at a new adventure camp, apps and a television show.

The next iPhone or iPad from Apple is surely around the corner, and Google is getting into everything from cloud computing to car making. But what the cards hold for $100 billion behemoth Facebook is far from clear, experts say.

Rumors of the hairy humanoid known variously as the yeti, bigfoot and sasquatch have persisted for decades. Now scientists are hoping to make more of a case for the creature -- with the help of genetic testing, Reuters reported.

Scotty has finally been beamed up. The ashes of the actor James Doohan, who played Scotty on the 1960s television series "Star Trek," were launched to space this morning (May 22) on a SpaceX Falcon 9 rocket.

Cows are a red herring. The most dangerous potential source for methane release lies underneath thinning permafrost and glaciers in the Arctic. Ecologists have just mapped the seeps where methane is bubbling up, and they found more than 150,000 of them.

At a time when black magic was relatively common, two curses involving snakes were cast, one targeting a senator and the other an animal doctor, says a Spanish researcher who has just deciphered the 1,600-year-old curses.

Presidents Barack Obama and Bill Clinton, U2 frontman Bono and more honored the memory of late Apple founder Steve Jobs Monday in New York City at the 16th annual Webby Awards.

Humans' close relationship to dogs has so far obscured their history so much that it's not yet possible to use genetic data to tease out the details of their domestication, new research indicates.

A Jurassic mom's almost certainly painful death is perfectly preserved in a rare fossil skeleton, one of the many unique items that will go on display in the Houston Museum of Natural Science's $85 million dinosaur hall when it opens to the public June 2. We take a first peek at the exhibit.

A Jurassic Mom's almost certainly painful death is perfectly preserved in a rare fossil skeleton, one of the many unique items that will go on display in the Houston Museum of Natural Science's $85 million dinosaur hall when it opens to the public June 2.

The rise of Kickstarter's crowdsourcing platform means consumers can now vote with their dollars, investing in unique new projects that they believe in, from smartphone watches designed from e-paper to coffee joulies that keep your drink at the perfect temperature. Here are the 12 most funded design projects.

Jodie Foster may have seen proof of alien lands in the 1997 Robert Zemeckis film "Contact," but the real life astronomer the filmmakers based their sci-fi odyssey on didn't find so much as a tentacle.

A first-of-its-kind commercial supply ship rocketed toward the International Space Station following a successful liftoff early Tuesday, opening a new era of dollar-driven spaceflight.

Many scientists say it's just a matter of time before we find evidence it exists, and now, anyone can get in on the hunt -- as long as they have a computer.

The private rocket company SpaceX is officially "go" to make a second try at launching its unmanned Dragon capsule early Tuesday, May 22, from Florida's Space Coast.

The Supreme Court refused Monday to hear an appeal from a Boston University student who was slapped with a $675,000 penalty for illegally downloading 31 songs and sharing them on the internet.

The European Union has given Google "a matter of weeks" to propose remedies to antitrust concerns arising from its alleged dominant position in the online search market.

A Maryland student was awarded the top prize at the Intel International Science and Engineering Fair on Friday for developing a urine and blood test that detects pancreatic cancer with 90 percent accuracy.

Microsoft recently announced plans to strip the Windows interface to its basics -- flattening surfaces, removing reflections, and scaling back distractions. Here's a brief look at the Windows interface over its 27-year history -- and how it will look tomorrow.

Microsoft's So.cl social network opened to the public at large this weekend. The experimental research project combines social networking and search, the company said -- and the company swears it's not meant to compete with Google+ or Facebook.

The World is Not Enough - Calling for a More Ethical Approach to Personal Finance

Personal Finance Personal Finance