Green banking is a relatively new concept, but one that we hear more and more regarding. This expression refers to certain categories of financial organizations which militate in favor of ecology. In this guide, Econologie.com explains what this concept really means. We also present to you some of the green banks present in France.
Green bank: definition of the concept
A green bank is a financial establishment which does not have the sole objective of maximizing its profit at all costs. It also aims to work for the preservation of the environment and respect for the planet. This momentum can be seen both in the way the company (the bank) operates internally, and in the projects it finances.
Green banking is sometimes referred to as ethical banking in a broader sense. In addition to acting in favor of the planet, ethical banks also invest in the common good (the satisfaction of citizens). This is sometimes done to the detriment of other lucrative activities which are thus excluded due to their “unethical” nature.
There are currently a few ethical or ecological banks in France, but the concept is more and more talked regarding. They present themselves as excellent alternatives to traditional banks, with a transparent mode of operation that is attracting more and more customers. If you are looking for a professional online bank that finances sustainable projects, you can turn to a green or ethical establishment. Their credit conditions are most often very flexible to encourage initiatives in favor of the planet. These are mostly online financial organizations, also called neo-banks.
Characteristics of a green bank
Three Main Features make it possible to recognize a green bank and to a certain extent an ethical bank:
- reducing its carbon footprint,
- the financing of ecological or energy transition projects,
- support for the local economy.
A green bank is a company that makes every effort to reduce your carbon footprint. This involves reducing the electricity consumption of its servers, reducing the waste of paper in its premises and the dematerialization of many services and services. The marketing of financial products made with biodegradable materials such as wood is also an action in this direction. Some green financial institutions also provide their agents with electric means of transport to reduce greenhouse gas emissions.
The financing of ecological transition projects is also one of the major characteristics of ethical and green financial organizations. They direct most of their flow of money towards financing needs related to eco-responsible and virtuous initiatives. Several financial instruments intended for individuals, professionals and institutions enable them to achieve this objective: specific savings accounts, green bonds, etc.
Green banks are also known to be real support for the local economy. They participate in the balance of the territory by offering their financial products (mainly credit) to local economic actors. Very small businesses, micro-businesses and local authorities can indeed benefit from the support of these establishments.
Ethical and green banks are also working directly with their customers to raise their awareness of the challenges of sustainable development. They do this through periodic campaigns targeted and disseminated through various modern communication channels.
Which green banks are present in France?
Currently in France, the neo-banks who have opted for an ecological and ethical policy are not numerous. There are currently less than ten:
- Hélios, the French online bank which offers an innovative concept (the funds deposited by customers are used to finance projects for eco-responsible initiatives, any polluting project being systematically excluded),
- OnlyOne, the neo-bank that offers personal support to its customers so that they adopt ecological gestures,
- Bunq, the bank committed to the fight once morest global warming,
- Monabanq, the neo-bank of the Crédit Mutuel CIC group,
- Green-Got, the new establishment that allows its customers to pay and be paid with a reduced ecological footprint.
Are you looking for the best online bank to create an account for your activities or to request financing for a sustainable project? The best way to find a neo-bank that meets your specific needs is touse a bank comparator. You can thus evaluate all the possibilities available to you and make an appropriate choice. Online banking comparators save you time and help you subscribe to an advantageous offer, sometimes with special offers as a bonus.