Monday 26th March 2007
The Co-operative Banks parent company, the Co-operative Group, has been named as the UKs most ethical company in a new study.
Research carried out by Gfk NOP found that consumers are well aware of the Co-ops longstanding commitment to employee welfare, fair-trade and social and environmental principles.
The Co-operative Bank and sister company Co-operative Insurance are the UKs only financial services companies to have customer-led ethical policies.
Moreover, Co-operative Financial Services Manchester CIS building has recently been covered in 7,000 photovoltaic panels to power the building with renewable energy.
"The findings of our latest report into ethical spending in the UK, demonstrates that ethical purchasing in 2005 was worth nearly £30 billion. The green pound is now becoming mainstream and we are determined to remain the natural choice for the growing band of ethical consumers," said group chief executive Martin Beaumont stated.
"Consumers are much more sensitive to how companies are behaving these days, and companies business practices are much more transparent than ever before," explained Chris Davis, managing director of brand strategy at Gfk NOP.
"The more astute brands, such as the Co-op are being rewarded by customers for taking a proactive stance," he concluded.
Co-operative Bank is part of Co-operative Financial Services, along with the Co-operative Insurance Society and smile.co.uk.
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