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Financial ethics

July 2012

Financial ethics

Recently launched in the UK is the Question of Trust campaign, which aims to restore public and professional trust in the financial services. One of its key backers is Keith Tondeur OBE, founder of Credit Action (see p.30 of this ET issue for the Big Interview).
    In another call for a more ethical approach, 17 Catholic bishops from around the world have called on the European Union to tackle corporate secrecy and tax-dodging which, they claim, deprive the world’s poorest countries of more than £100 billion a year.
    The bishops, who include John Arnold, auxiliary Bishop of Westminster, and William Kenney, auxiliary Bishop of Birmingham, asked for better rules to put ‘more morality into the financial system’.
    In a statement, the coalition of bishops said, ‘The greed of a few threatens the very survival of the most vulnerable populations. To end this, new rules are urgently needed that ensure the wealth produced, particularly from the exploitation of natural resources, is not monopolised for the sole benefit of a minority.
    ‘These resources should benefit all equitably and in particular the local people who are directly impacted by the activities of production or extraction’.

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