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Purpose

Purpose? We need actions, not words!

I guess my discussions of purpose-driven banking are growing. Maybe I just picked up the vibe or created it, but more and more I’m seeing bank CEO’s talking about purpose. Tom Blomfield, CEO and co-founder of Monzo, in Wired magazine: “Why do companies even exist? What are we here for? …

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Transparent climate-related financial disclosure

I write a lot about purpose-driven banking, and many folks came back to me saying that what I had written sounded a lot like community banking. Community banks stand for something, they have a purpose and much of it is directed towards their members’ interests and the local community. And …

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Fed up with talk of a climate emergency?

You’ve probably heard all you need to hear about Davos by now, so I won’t bore you with it much further … except for this. Much of the dialogue for the past year has been about climate change or climate emergency or climate action or whatever you want to call …

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What is the purpose of a bank?

It’s a simple question: what is the purpose of a bank? However, the answers I get are often missing the mark, imho. I get answers like to fund business, to finance progress, to support government, to keep economies stable, to manage risk, to build communities, to allow people to be …

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Financing fossil fuel firms fracks our future

I’ve said on a number of occasions recently that banking and finance is at the heart of the climate crisis. Banks provide the financing for fossil fuel firms who are destroying the planet. The key numbers: Coal supplies a third of all energy worldwide, with the top coal consumers and producers in 2018 being China, …

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What does inclusion mean?

I’ve been reflecting for a while on the shift of power from America to China, as those who read my musings will know. This is typified by the latest Netflix offering American Factory, backed by the Obamas. It shows the cultural clash between East and West and the rise of …

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What does “purpose-driven” really mean?

During my writing about a purpose-driven bank, I tried to find good examples of what purpose-driven actually means. Googling the question the number one result is from the Plato Project, who outline eight great purpose-driven organisations. The list is: Whole Foods “With great courage, integrity and love,” reads the higher …

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