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July 12, 2007

Eco-friendly financial products need close scrutiny

by Gill Montia

Story link: Eco-friendly financial products need close scrutiny

The Ethical Investment Research Service (EIRS) is advising consumers to take care in assessing the details of the various eco-friendly financial products available.

Stephen Hine, head of international relations at the EIRS believes that consumers need to ensure that they have found a bona fide package and not one that is simply cashing in on so called eco-conscience, which is a growing social trend.

Mr Hine is recommending that consumers look closely at the details of any particular product on offer and assess the extent to which it would make a difference to the environment.

For example, they should ask themselves whether any return going to an environmental cause would be more beneficial than if they gave directly to an environmental charity.

He also suggests that those looking to invest in a green fund should seek help from a financial adviser.

The number of green and ethical financial products on the market is increasing, only last week Barclaycard launched its Breathe credit card, whilst pledging to donate half the profits from the card to help reverse climate change.

 

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