bank

A Hippocratic Oath for Bankers

- Adam Clare

Bankers destroyed the economy and in too many countries those responsible walk free despite the damage they wrought. Iceland jailed bankers at fault in their country, but what can we do to ensure that bankers behave in the future?

Doctors take the hippocratic oath in order to practice medicine, now it’s being suggested bankers need something similar. We don’t want bankers to be like people with MBAs.

In contrast to a rigid moral regime that most ethical systems call for, the theory of virtue recognises that people’s needs are all different and as a result, argues for the fulfillment of those needs in all of their distinctness. Applying this theory to banking reform means that our banks should, to the best of their abilities, attempt to meet people’s diverse financial needs, and should not simply focus on self-enrichment or basic transactional services.
…
This bankers’ oath would symbolise a turning point for the profession and make a much-needed encouraging signal to the public. Lawyers, doctors and architects all hold a professional motive to not only do the best for their client but also adhere to the well established principles of that profession. In medicine, the Hippocratic oath provides a centre-piece for personal responsibility in the profession and their overarching principles. Banking is no different and in the post-crash era, should strive towards professionalism.

Read more.

Scotiabank Looks to Reward Eco Companies

- Adam Clare

Banks have a horrible reputation because of their inability to predict economic behaviour, this was highlighted by the ongoing economic claptrap that started roughly seven years ago. Canadian banks have also received a tarnished reputation because of their ongoing unethical investments in the Alberta tar sands. Perhaps as a reaction to this, Scotiabank launched an awards program in 2010.

Their EcoLiving Awards is focused on bringing attention and finances to companies that are improving the efficiency of households. This can range from better windows to new technology systems. You can nominate a company at their website, so if you know a Canadian company that makes the world a little more sustainable on the home front you should nominate them.

“The Scotiabank EcoLiving Awards showcase outstanding leaders in home energy efficiency. If you have a great idea or solution, we want to hear from you,” said Kaz Flinn, Scotiabank’s Vice President, Corporate Social Responsibility. “We know that Canadian homeowners are likely to consider making their home more energy efficient or environmentally friendly with renovations. These awards bring forward new and innovative ideas.”

The Scotiabank EcoLiving Awards recognize winners in three categories:

  1. Business Leadership ($50,000) – a business or individual who is leading the way in home energy efficiency products, services or solutions. Focused primarily on executing a proven idea or program.
  2. Innovators ($15,000) – a business or individual demonstrating innovation in home energy efficient products, services and solutions. Focused on introducing exciting new ideas for products or programs.
  3. Student Leadership ($10,000) – a full-time college or university student who demonstrates promise for the future of home energy conservation.

Find out more at their website.

RBC Cares About Water

- Adam Clare 1 Comment

The Royal Bank of Canada has launched a series of grants for charities to promote all good things about water. There project is called Blue Water and they want you to promote good water stewardship. It looks like a great project that they have created, it would be really great to see RBC promote good water usage in their wretched tar sands investments.

You can also take a short quiz about your water knowledge.

Here’s a video about the work they did with National Geographic:

Building Green Homes is Cost Effective

- Adam Clare

The Federal Reserve Bank of Boston has done a study on the real cost of building a green home and they have busted the myth that building green is too costly. The bank has concluded that building green doesn’t break the bank, so to speak.

The intuitive view of most people might be that building green is going to be vastly more expensive and complex than building to the most basic standards required by local code. It follows that we assume affordable housing probably isn’t going to be green. But a recent article in the Communities and Banking magazine published by the Federal Reserve Bank of Boston (FSB) this spring busts the myth that affordable housing and green housing are opposite and mutually exclusive concepts.

The myth doesn’t hold up locally either. We’ve looked at a study of green housing and the energy savings it creates for residents of the Seattle Housing Authority. And in Portland the Housing Authority built its first HOPE VI project green as well. We’ve also looked at the study of housing and health where there is growing evidence that along with materials the location of housing can have an effect on resident’s health – and health care costs. And we’ve considered the savings that building green can create for schools and their communities.

Seed Bank Saves Seeds

- Adam Clare 1 Comment

The ‘doomsday vault’ is getting more attention and love to save seeds. They’ve created a new, expanded, goal to save 100,000 seeds. This is good news because having a well-kept seed bank to preserve biodiversity can prove invaluable if some of the plants die out or are struck by a horrible disease. THink of it has a global insurance policy on plants.

Countries participating in the programme including Ireland, have assembled extensive duplicate seed collections to match those held at home. These are then to be delivered to the vault which will hold them in perpetuity at -18 degrees, something that should keep them safe for thousands of years, Dr Fowler said.

By the end of February there will be about 400,000 varieties in the vault.

Ireland’s seeds are expected to arrive either later this month or by April, Dr Fowler said.

The ongoing project is separate to this new initiative to rescue threatened seed collections in 46 countries, he continued.

Many countries struggle to maintain their seed banks to an international standard, leaving them at risk of partial or even total loss.

“There are a number of small seed banks around the world where the facilities are pretty poor. The seeds are basically dying in their packages,” he said.

“If we sit and wait we will have another wave of extinctions in agricultural biodiversity.”

Trust staff will visit 49 institutes where seeds are held, using funding provided by the Bill and Melinda Gates Foundation and the Grains Research and Development Corporation.

Scroll To Top