Bristol Credit Union
is well equipped to take advantage of the expected changes in credit union
legislation thanks to a subordinated loan from The Co-operative Loan Fund.

The Legislative Reform Order due to
be laid before Parliament in October will give credit unions the flexibility to
accept local community groups, companies and social enterprises into membership
and to extend membership to new groups of people, such as housing association
tenants and employees of nationwide companies. This will allow large numbers of
people to benefit from credit union services for the first time.

Bristol Credit Union is using the
loan from The Co-operative Loan Fund as resource capital that will be used to provide
members with greater lending opportunities and investment capital over the
coming years. The loan is the final part of The Co-operative Loan Fund’s
2004 initiative, in which over £200,000 was allocated to help support credit
unions in the UK.

Bristol Credit Union was developed in
2005 and 2006 through a partnership of smaller community credit unions, and it
is now proud to offer financial support to the city of Bristol and its surrounding area. The members
of the credit union share a common bond of living in and around Bristol and this
has resulted in the city becoming more inclusive, and benefitting from greater
economic activity and a lower risk of financial exclusion. There are now over 4,500
members in Bristol Credit Union, plus local organisations, landlords and advice
agencies who work alongside the credit union to benefit its savers and
borrowers.

In addition to the wide range of
savings accounts on offer, Bristol Credit Union also welcomes loan applications
from its members, who are safe in the knowledge that by law, their interest
rates will be lower than two percent per month on the reducing balance of the
loan. It is credit union policy to meet the borrowing requirements of as many
members as possible, depending on the available funds, and the loan from The
Co-operative Loan Fund will ensure Bristol Credit Union have sufficient money
to meet the needs of its investors for the foreseeable future.

Speaking about the loan, Bristol
Credit Union Chief Executive James Berry said: “Bristol Credit Union is
delighted to receive this loan from The Co-operative Loan Fund, as it
represents a vote of confidence in us and our future development plans. The
loan enables us to maintain a comfortable capital to assets ratio through an
expected period of fast growth, and helps us to develop further services for
our members, many of whom are financially excluded. Bristol Credit Union has
over 4,500 members across Bristol,
working together for mutual financial benefit. By building a strong capital
base we can help members by encouraging further saving deposits, and
investigate mortgage lending too. It is great to work with an organisation that
understands credit unions and co-operatives.”

The loan is very unusual in the sense
that it is subordinated, which means that in the unfortunate event that credit
union suffers severe financial problems, The Co-operative Loan Fund ranks below
the credit union savers on the creditors list. In addition, the credit union
only needs to make interest-only payments for 10 years and then repay the lump
sum, which relieves a lot of pressure for Bristol Credit Union.

Ian Taylor
at The Co-operative Loan Fund added: “This is the third subordinated loan
we have made to credit unions, and in the current financial climate we believe
it has come at a crucial time. The money will be used to ensure Bristol Credit
Union can support its members and help them overcome the difficult financial
times ahead. We are pleased to be able to offer our support to an organisation
such as Bristol Credit Union, which puts its member’s interests first and
promotes a strong community ethos.”

“Ethical” is fast becoming a brand name – a cleansing agent
that can be strapped to a product or service to alleviate the guilt of consumption. Does it mean that the mythical ethical
consumer is emerging, a consumer who tries to act and buy ethically in all
aspects of their life? Or does there
simply exist a growing demand for “ethical” products? For the two are not the
same.

The Co-op’s latest annual “Ethical consumerism” report now
shows that the ethical sector in 2005 was worth £29.268 billion, a growth of
11% on 2004 exceeded the sales of ‘over-the-counter’ beer and cigarettes. Whichever way you look at it, something is
changing amongst consumers.

The hidden ingredients

Recent legislation in the food industry introduced universal food
labelling; specific ingredients, whose quantities must be revealed are clearly
listed on all food sold from the shelves of our supermarkets. Now we know exactly what we are putting into
our bodies and if we choose to, we can make better educated decisions about our
diets. Suddenly it makes sense why my
Mum banned me from drinking Ribena all those years ago. The labels show clearly what has physically
gone in to the product: salt, sugar, fat and protein. Of course, there is more to it than they can
display, but it is a vast improvement on the rather
cryptic link between Coca-cola and some of its original ingredients. But what about everything else that went in
to producing that product? Where are the raw materials sourced from? In what conditions are they grown, mined,
raised, fished and processed? What about the number of miles it travelled to
get on the shelf? What about what the
producer does with the money? What about
the “ethics” that brought that product to market?

What is ethical?

Ethical practice is about more that just fair-trade, it is more than organic, it involves holistic appraisal of every aspect
that goes into the trade and industry behind a product or service, in Marxist
terms it is the “means of production and distribution”. There is no one definition for “ethical”, as
an adjective it’s very nature is open to interpretation, although there is no
doubt that to be ethically led means to be trying to “do the right thing” at
all points of the supply chain. As of yet, however, the consumer cannot easily
get a fair appraisal of the ethics that lie within and behind a product as
easily as they can find the ingredients that lie within it. So the question must be: Do consumers really
know in what proportions they are demanding “ethical”?

What measures the ethical quality of a product? Minimal environmental impact? I think so.
Respect for fellow living creatures?
Probably. Fair treatment of all
labour involved in the production process? Definitely. So the key to a truly ethical product lies in
the production process and the “worker” is core to that as we are, mercifully,
not entirely mechanised yet. It would be
fair to say then, based on ethical demand requiring suppliers to adhere to
these practices, the worker is going to come off quite well. Fair wages, workers rights and limits on the
amount of hours worked are just some of the benefits available. However, we haven’t addressed price yet.

Addressing the price

Price, whilst the least tangible of all costs that we can relate to a
product, is more often than not, the deciding factor in the relative success of
any product or service. Price,
traditionally, drives both demand and supply.
Price as a financial measure is ultimately a measure of the relative
cost of a product. It is a generic
summary of the resources that have been consumed bringing the product to
market; it is not necessarily related to or indicative of the “ethical” cost of
a product. Waitrose now boasts that its
products are “honestly priced” and, in case you hadn’t noticed, their locally
produced organic products are not cheap.

Organic food will probably always be more expensive than
non-organic, the animals have more space and the intense battery and shed
systems are banned; the avoidance of pesticides and chemical fertilisers means
that more human labour needs to be utilised for the same kilo of production so
organic farmers will always have to charge more, until of course the full
environmental cost of agri-chemicals becomes factored into industrial farming
by legislation. Fairtade coffee on the other hand is very different, in
non-Fairtrade coffee the amount paid to the grower of the beans makes up a mere
7% of the total cost, for Fairtrade coffee including the minimum price and the
social premium this rises but to only 11%. Yet this small rise is not reflected
in the increased cost of Fairtrade coffee over non-Fairtrade, why? When the
Co-op first introduced Fairtrade coffee into its range, it had a 1p difference
in price from the rest of its coffee range. One conclusion to draw is that some
of the traditional large retailers are cashing in on ethical consumerism to
increase their margins.

Take the cost of two different tomatoes; one is 20p, the
other 35p – one is from Africa the other is from Somerset. One was bought from Tesco Express, the other
from an independently run local produce shop.
One is sprayed in pesticides; the other has been exposed to the elements. One was grown on land that is patrolled by
thugs and funded by a bank you have never heard of; the other was grown in a
field about two miles north of Hove in a farmers field whose family had owned it for generations. The food labels, if tomatoes carried such
things, would be identical. It’s the
“Tale of Two Tomatoes” and if they had ethical labelling they would read very
differently indeed.

Does ethical demand really exist?

So perhaps, as with the latest food labelling laws, the public need to
be exposed to a standardised measure of the ethical costs of a product, or
should we say the ethical compromises made to ensure that it could be
successful according to its derived financial price. We can then see if ethical demand really
exists. If effective ethical demand
really does exist it will not be price driven, it will driven by the other
costs normally associated with supply.
Fashion too would be relative to what was achievable within ethical
parameters, not simply within the realms of possibility.

What can I do about it?

At Ethical Junction we believe that ethical demand does exist. But, like the fundamental economic problem,
it is not a perfect world. Moving in the
right direction is all anyone can do to create an ethically driven supply and
demand chain – lots and lots of tiny steps in the right direction – millions of
consecutive ethically driven decisions that help to shape the economy. And this can only be done if we co-operate.

Ethical Junction represents more than one thousand enterprises that have
signed up to do just this – which is move in the same
ethically guided direction. Choosing an
Ethical Junction member as a supplier helps build the chain and consequently
feeds into the development of core ethical principles held by thousands of
people.

Ethical Junction (www.ethical-junction.org) is a not-for-profit community interest
company that has established itself as the UK’s leading network of ethical
businesses. Ethical Junction was established in 1999 and has an active network
of over 1,100 companies and organisations that operate ethically and
provide a range of goods and services which are environmentally friendly,
sustainable, fairly traded and socially responsible.

15%
off Peak District self catering accommodation for two people -
from £237 per cottage for two nights short break before 27 August

Set
in a peaceful location close to Buxton, Derbyshire this farm occupies
a stunning position in one of the Peak District’s most breathtaking
valleys. It is equipped with the latest in green building technology
including ground source heat pumps which collect solar energy stored
in the ground and provide hot water and heat. Excellent walks, pubs
and cycle network plus organised activities (indoor and outdoor rock
climbing, caving, trekking, canoeing, kayaking, archery) arranged in
conjunction with local licensed activity centre.

Plus:
Guests who arrive using lower carbon transport options, are offered
free collection from Buxton bus or train station and a complimentary
breakfast box containing locally produced bread, butter, milk, honey,
jam and yoghurt.

More
info:
http://www.responsibletravel.com/PDdeal  

For more offers and travel discounts see the rest of the newsletter here

A new organisation is helping people tolive happier and more fulfilling lives, despite the challenges of the creditcrunch.

Life^² (www.lifesquared.org.uk) is offeringcourses, guides, public talks and advice aimed at helping people to ‘live well’ – to live happy, wise lives inthe modern world.  It is currentlyrecruiting for new participants to join its ‘just think… ‘ scheme – an innovative8-week group course that people run themselves without a tutor in their ownhomes.  It aims to help people to standback from their lives and find ways of making them better – including living inline with their values and living the lives they want.

One participant on a recent ‘just think…’
course commented ‘the course has been really useful in reflecting and focussing
on my life and making practical plans to work towards a future I hope to
realise.  It has been great to meet and
discuss these with the group who have been very supportive and encouraging’.

Life² Director, Richard Docwra, noted that ‘in
modern society, we’ve become obsessed with the idea that the only way to be
happy is to earn more money, get more status or acquire new things.  Our courses and guides show that this is not
only untrue, but also that constantly striving for this material success can
actually cause us problems in health, stress and happiness.  Our courses and guides help people to help
people to stand back from their lives, understand the world better and work out
how they really want to live.  On
reflection, many people find that the most important things in life often don’t
involve money – such as good relationships, having more time and having a sense
of purpose.  This is a particularly
important message during the credit crunch, when people have less money and
career stability and are looking for ways of making life better’.

The Life² website and shop can be found at www.lifesquared.org.uk.  

Supreme Creations were awarded the BITC ‘Responsible Supply Chain’ Award by HRH The Prince of Wales at Clarence House.

Winners of the top Business in The Community Supply Chain award in this year’s Awards for Excellence, Supreme Creations has been showing the big boys how it’s done. The accolade recognises the company’s pioneering product development and commitment to creating secure working conditions and sustainable communities for its 2,000-strong workforce.

Guardian Article yesterday
Supreme Creations, the world leading
ethical manufacturer of reusable bags has been campaigning against
single use plastic bags for years. We have not just campaigned, but
provide a range of alternatives for promotional, retail and packaging.
We now offer the widest range of reusable bag alternatives in the UK.

Long
lasting reusable bags will strengthen your marketing message by making
it a positive one: environmentally friendly and extremely useful; two
excellent things to be associated with your brand.

Quick link to the largest range of bag styles, colours and options.

Call
0845 230 5996 or email kiran@supreme-london.com for the WIDEST CHOICE
OF ECO-BAGS FOR PROMOTIONS, RETAIL & PACKAGING & OUR LOW PRICE
PROMISE.

The
winners of the fourth annual Observer Ethical Awards, in association
with Ecover, were announced on the 3rd June at a ceremony hosted by Colin
Firth at the Kensington Roof Gardens in London. Sir David Attenborough
received a lifetime achievement award from Observer editor, John
Mullholland.

Readers
of The Observer selected leader of the Green Party, Caroline Lucas, as
Politician of the Year; Human rights campaigner, Peter Tatchell, was
awarded Campaigner of the Year. Ethical bed manufacturer, Warren Evans,
won Local Retailer of the Year and the Good Energy Shop collected the
prize for the Best Online Initiative of the Year.  

Lucy
Siegle, Observer columnist and chair of the judging panel, said: “Four
years in and still is a great honour to be the chair of such a valuable
and exciting event. The Observer Ethical Awards are now well
established and celebrate and reward those who to make living in a
sustainable way possible.”

The
Observer Ethical Awards are instrumental in bringing green issues to
the forefront of consumer minds and making businesses reassess their
attitudes towards sustainability.

The
remaining categories were voted for by a celebrity judging panel that
included Ken Livingstone, former Mayor of London; Ben Okri, Author;
Rick Edwards, TV Presenter and Deborah Meaden of Dragon’s Den.

Ketan who is technical director of Ethical
Junction and Kate, who is EJ’s administrator, recently got married.
The couple are both vegans so they had an all vegan wedding (everyone
really liked the food!) and they set out to use as many Ethical Junction
companies as possible as part of their wedding. Kate and Ket would like
to give a big Thank You to all of the Ethical Junction companies that
they were able to make use of for their products and services as part
of their wedding.  

They gleaned tips, practical advice and
inspiration from both Green Union and Ethical Weddings. Their rings
were ethically sourced from Fifi Bijoux

Kate, the Bride made her own dress and
jacket using organic fabric from Greenfibres, and wore shoes from Beyond
Skin, her necklace was from Natural Collection, her handbag was from
Feel Good Handbags, her make up from Beauty Without Cruelty and Inika.
Both the bride and groom used skin care products from Green People and
Simply Soaps, hair care products used were from both Faith In Nature
and Daniel Field.

Ket, The Groom wore an organic linen
suit (unfortunately not from an EJ, a gap in the marketplace there people!).
Ket’s shoes were from Natural Collection. The beautiful faritrade
roses that were used for the buttonholes and the bride’s bouquet were
from Imogen Stone (Kate kept the fairtrade tags on the rose stems).  

Paper for the invites, place settings,
and table names was from the Exotic Paper Company and envelopes from
Eco-Craft. All the alcohol was from Vintage Roots (organic and vegan).
A Lot of Candles who is part of the company A Lot of Chocolates supplied
organic candles.

Ket’s band played to the guests as part of the evenings entertainment, and is currently having a bass guitar custom built by Simon Lee Guitars .

The couple used gift lists from Greenfibres,
Our Green Wedding List, Natural Collection and Bishopston Trading. The
honeymoon destination later in the year is to be at Bloomfield House. 

Kate and Ket would like to say, “Thank
you to you all 22 Ethical Junction members for making our day so wonderful and memorable.” 

5 June
2009

World
Environment Day (WED), 5
June, 2009, is an initiative aimed towards building worldwide awareness
of environmental issues and climate change and is a principle vehicle
for the United Nations to enhance political attention and action

(http://www.unep.org/wed/2009/english/). This year’s WED slogan is
‘Your Planet Needs You-UNite to Combat Climate change’
which reflects the urgent need for an internationally binding policy
on climate change. Although a significant part of the fight against
climate change is the implementation of an international policy, it
also requires individual and corporate actions.

As part of Article 13’s
ongoing commitment to the United Nations Global Compact (UNGC) commitment, and
specifically our efforts to support the environment and climate change,
we robustly monitor our own environmental impact, as well as show advocacy
and support for its protection. Below are examples of our actions, reporting
and review measures:

• We conduct a monthly audit
  of our usage of paper, electricity, and fuel, seeking to improve our
  impact on the environment. We believe that these small actions contribute
  a positive impact and are in keeping with our corporate sustainability
  and responsibility status.
• Secondly, we volunteer members
  of our in-house team for conservation work, as part of our efforts towards
  the protection and management of environmental resources.
• Thirdly, we create awareness
  and highlight the latest information on environmental technologies,
  policies and conferences through regular advocacy and information dissemination.
• See our UNGC pages for our latest actions and 2009 KPIs

   (http://www.article13.com/csr/ungc_iip_values.asp).

A small selection of
Article 13 resources includes:

• Article
  13 Climate Change Resource centre: http://www.article13.com/csr/climate-change-cont.asp
• Article 13 environmental case
  studies:
• Aviva – reducing and offsetting
  carbon emissions http://www.article13.com/A13_ContentList.asp?strAction=GetPublication&PNID=1376
• 3M – Development of a life
  cycle management approach http://www.article13.com/A13_ContentList.asp?strAction=GetPublication&PNID=1312

For information on how
Article 13 can assist you in auditing your company’s practices, developing
environmental action plans, and reducing your business related environmental
impacts, contact Fiona Banyard on 020 8840 4450 or email fionab@article13.com

Money Matters

Putting the Eco into Economics

- global crisis and local solutions

David Boyle

28th May 2009

Published by Alastair Sawday Publishing

Visitwww.sawdays.co.uk to buy a copy

£7.99• Paperback •  ISBN 9781-906136-20-8

From
hedge funds to hyperinflation, credit cards to credit crunch, David
Boyle’s new book demystifies the economic system that has us all caught
in its tentacles. 

Now,
more than ever before, we are worrying about money.  With our
mortgages, savings, credit card bills, loans and pensions, we are all
implicated in a system that operates ostensibly in our name.  But for
something we all use so much of, money is extraordinarily elusive; it
is coins and it is debt, it is a plastic debit card and it is infinite
numbers of bytes in cyberspace.  But where has all the money gone?

Money Matters is
essential reading for anyone who feels in the dark about the economic
situation.  It will brief you for the current financial debate and will
make you look at everything from your bank statement to the coins in
your pocket in a whole new way.

The
book covers the origin of money, the banking system, the stock markets,
trading, the global flow of e-money, debt, mortgages, interest, tax,
pensions, the global currency of oil, forgery, great crashes of the
past, the dot.com
explosion, the credit crunch of 2007 and the 2008 crash, and the
emerging ways to trade in the future, such as Ethical Banking, Local
Exchange Currencies, the Transition Town Movement, and sustainable
finance.

David Boyle has
written widely about money from a green and ethical perspective.  He is
a fellow of the New Economics foundation and editor of their newspaper,
Radical Economics.  His books include Why London needs its own Currency (2000), Virtual Currencies (2001), The Money Changers (2002) and The Little Money Book (2003).

A new report, out today, shows that discriminating customers now insist on more evidence of the integrity of so-called ethical companies touting for their business.

I’d say this is entirely reasonable – I certainly would like to know that my hard-earned folding stuff is being well spent – especially in these days of cash constraint.

Also, if we can’t expect high standards of integrity in the ethical marketplace, where can we expect them?

The report shows that one feature now held in high esteem is validation of a trader’s credentials by a transparent, non-profit, professional organisation that is well-establised and trusted in the marketplace. I swear I heard about just such an outfit only the other day…

You can read about the report here: http://www.environmentalleader.com/2009/05/05/lohas-consumers-want-proof-and-third-party-verification/

Enjoy

Rob Weston

Schmeditor